Computerized Bookeeping
Accounting software has been at the forefront of a rapidly changing accounting profession over the past few years.
It was not that long ago, for instance, that accountants spent most of their time at client offices providing basic bookkeeping services, using nothing more advanced than an adding machine.
New Bookkeeping Packages
Today's accountants are able to provide interested clients with software training to acquire computer skills, which they can use to maintain basic bookkeeping chores on an in-house basis.
This is made possible by user-friendly bookkeeping and accounting packages, many of which run in an easy to operate Windows environment.
These software packages provide individuals and small businesses with a number of options. Some include basic bookkeeping modules, such as accounts receivable and accounts payable, cheque reconciliation, sales and invoicing, automated bill paying, inventory and purchase orders, and payroll.
They also span to provide more sophisticated accounting functions which provide financial charts and graphs to analyze profit,inventory margin, cost of goods sold, and cash flow.
Largely because of the capabilities provided by this software, accountants and their clients now have more flexibility with respect to collecting and analyzing financial data at any interval during the year.
The job of reviewing client files has also been made that much easier, freeing the accountant to devote more time to their clients' strategic planning issues.
Note to users: All information provided is of a general nature. Although we endeavour to ensure its accuracy and timeliness, no one should act upon it without appropriate professional advice after a thorough examination of the facts of the particular situation.