The world of digital is here to stay, with continually improving processes for keeping track of data, finances, payroll and more. Only very small businesses or those with less computer savvy skills would still use manual bookkeeping. Accounting software has come a long way from the days of the early computer models that were very expensive and took up an entire room. In 1953, General Electric was the first company to use a computerised accounts system. The options have developed exponentially since then.
It wasn’t until the mid-1980’s that personal computer systems became affordable for the general public and for small businesses. With the advent of the personal computer came all types of programs and software to be used with each operating system. Certain software was only for a particular computer. The software had to be uploaded to the computer, so it was a limited resource and not very cost effective.
Keep reading to learn more about why more businesses are moving away from manual bookkeeping.
Cost Effective and Convenient
Fast forward to the 1990’s up to the present day, where the ease of use, cost-effectiveness, internet portals, and cloud accessibility are the norm for businesses of all sizes. Employees can access accounting data from any computer or device connected to the internet. Some businesses have cloud data, so the user signs into their account and voilà, instant access.
Manual accounting methods have become time-consuming and almost obsolete for the 21st-century worker. While some die-hard Luddites continue to use the traditional methods of double-entry bookkeeping that has been utilized for centuries, digital systems are here to stay. The amount of time that is saved with a computerized system for all expenses, payroll and reports that can be sorted into any category type is astounding to the novice. Once the system is in place, there is no contest between the two types of accounting.
Cloud Storage and Access
The latest wave of new technology and innovation is the use of cloud storage and access. First, the software was limited to certain computers at work. Then servers were the norm, where each computer in a certain network was connected to a server. Now, the server system is being replaced by a “cloud” storage, where any computer can have access with a user ID and password and secure internet connection.
The cloud allows employees to work remotely which is an added bonus. Save time and money with a worker who doesn’t need to commute or works odd hours, the cloud makes the necessary information available to all employees no matter where they are.
Software Package Features
For small and medium-sized businesses accounting software packages have developed into comprehensive cloud-based technologies with a monthly fee for businesses to securely access their data online. Integrated solutions such as payments with mobile devices and cutting-edge apps have made it easier than ever before for businesses to stay in control of their finances.
Bring Your Business into the Future
Modern technology has improved and streamlined so many different elements of business in recent years. From communications to reporting to stock control and order fulfilment, software and technology have stepped up to the plate, making life easier than ever for business owners. With the positive effects of modern software on so many aspects of your business, why should your accounts be any different?
Accounting software is now more cutting-edge than ever, with mobile apps, cloud storage and access, and all types of reports, payroll, and tax support available. It can be smart to use it to maintain your financial accounts. Once a computerised accounting system is in place you will wonder how you ever managed without one!
