Long gone are the days of hand-written ledgers and piles of documents making up your business’s bookkeeping. Online accounting and bookkeeping have come a long way and dominate the current industry. Technology is constantly changing, and with the emergence of cloud-based accounting tools, it’s becoming easier to manage your books.
Technology has Transformed Accounting
Technology has played a massive role in the accounting industry over the last thirty years. With the introduction of computer-based accounting software in the 1990s, like QuickBooks and Peachtree Accounting, bookkeepers noticed that tasks were being completed more efficiently with increased accuracy.
When the internet became mainstream, online accounting emerged as the latest trend, offering remote access, real-time collaboration and easy access to your financial data on the go. Online accounting also offers enhanced security protection, with tools like multi-factor authentication and encryption to keep business’s financial information safe and secure.
Technology has taken accounting from a tedious hand-written task to a streamlined process that can be done from anywhere with impressive security measures, even using an app on your phone.
Automation and Cloud-Based Technology
Technology has introduced automation into the accounting industry, and cloud-based technology offers your financial information the moment you want it.
Since the early 2000s, cloud-based accounting software like QuickBooks Online, Xero, Wave, and ZohoBooks have emerged as top software solutions, offering features like cloud storage and automatic bank feeds.
Automation has helped accountants reduce repetitive tasks, minimizing human error as data entry can be done automatically. These solutions tend to be more cost-effective for business owners because there’s no investment in hardware infrastructure, and software updates typically come free of charge.
Embracing Online Accounting Technology
Adapting to these new technologies allows accountants to do the best job possible for your business. Not only do they allow you to have customized options that specifically fit your business needs, but digital record-keeping is better for the environment.
Have Confidence in Your Small Business Accounting Services
Hiring an accounting professional that utilizes technology can be fantastic if you’re a small business owner. You have remote access to everything you need and can trust that your books are handled efficiently and correctly. Accounting By Sal knows your finances are the most essential part of your business, and our expertise lies in taking care of all your needs, from accounting services to tax preparation to new business setup.
Learn more about our done-for-you accounting services and how we’d make a great partner for your business.