Accounting Software – From Manual Capturing to Cloud Systems
Accounting software has been around for many years but is now going through some major changes with more and more people choosing to go online with cloud accounting systems.
Cloud Accounting Software
Cloud accounting systems are online systems that are available from any computer or device with internet access. No files are stored on your office computer and the information is available to anyone you grant access to. This means that it is also far easier to exchange information with your accountant.
These systems have also made the capturing of information a lot easier by allowing users to upload bank statements. With the advent of cloud accounting, a number of new players have entered the accounting software business such as Xero. You can find more about Xero accounting via wlp.com.sg/xero-small-business-sme-accounting-firm.
From Manual to the Cloud
It seems a long time ago now when bookkeeping was done by hand with books, pens and maybe a calculator. In those days keeping records of the finances of a large company was time-consuming and tedious and was certainly not environmentally friendly with the large quantities of paper that had to be used for journals, cash books, etc.
Then as computers became more popular accounting software developed and made a huge difference to the lives of bookkeepers and accountants. Now you could capture information once and have it accessible across all your different journals, trial balances, ledgers, etc. This drastically improved the time required to capture books and improved the accuracy of the information presented.