The evolution of bookkeeping

I just got super excited today over the ease at which I could export data and create reports to tell one of my clients just how their business sales were tracking.  At the drop of a hat!  It made me revel in the evolution of bookkeeping from using counting machines, cash book ledgers, calculators, excel, computer based accounting packages and finally the cloud.  At each progressive development stage, the financial clarity we can achieve in a business got clearer and clearer.

Bookkeeping has been around as long as the civilised world with the primary role of keeping track of your numbers.  Bookkeeping and businesses have both evolved to take advantage of the technological advances in accounting.  No one can deny the introduction of the calculator made the job of bookkeeping easier.  But it was the introduction of the computer and accounting software packages that revolutionised the way businesses managed their finances.

We said goodbye to ledger books, writing paper invoices, cheques, pencils, erasers, filing in returns by hand and the trusty calculator.

We said hello to online banking, the cloud, bank feeds, email, filing our taxes online, real time accounting and a paperless way of working.

As accounting technology continues to evolve, keeping track of our money and budgeting has become easier and easier.  Not only that, bookkeeping is now a fast paced and dynamic profession that requires fast paced and progressive people.  With the introduction of the cloud based accounting systems such as Xero, accountability is at an all-time high with Directors, shareholders and managers all having access to the same financial information and in real time.  Businesses are transparent and those that have kept up with the evolution of bookkeeping are seeing the benefits first hand.

With the extensive information accounting systems can now generate, I am finding the role of a bookkeeper and accountant is also evolving to become a business consultant as well.  It’s an exciting time to be in this industry with all the changes!

The advantages of embracing technology has always meant increased speed and efficiency.  If embracing technology means:
  • Fewer mistakes (and mistakes are easier to find)
  • Greater accountability
  • Faster calculations
  • Less hours spent on bookkeeping (and more time in growing your business)
  • More time to interpret data
  • Meeting your compliance deadlines
Why wouldn’t you?!

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