How the Digital World Has Changed Accounting

Technology is constantly changing, and these days, everything seems to be more and more digital. It’s perhaps not a surprising statistic that there are now more mobile devices in the world than human beings — 8.7 billion in comparison to 7.6 billion. Digital technology bleeds into everything we do. You can get a ride through use of an app, work from home through use of your computer or smartphone, and connect with friends from all over the world. So naturally, accounting has changed to suit the digital world, as well.

Fortunately, while some are still skeptical of the fast moving digital technology in our society, the changes to accounting have been overwhelmingly good. Today, it’s more precise and convenient than ever.

Cloud Based Accounting

The biggest change in accounting over the years has been the switch to cloud based accounting. Through cloud based accounting, your accounting software is able to be accessed from any device. No more rushing back into the office to fix an accounting error or suffering through the sniffles because the whole team is needed. Now all your accounting information is stored securely in the cloud and can be accessed remotely — meaning you can login from home, from your vacation, or even while stuck in standstill traffic.

Cloud based accounting typically has easy to use interfaces and convenient customized options. It also isn’t dependent on your office computers or internet running properly, so even if you’re having IT struggles, you can step outside and access your accounting from a mobile device.

Better Accuracy

As technology advances for accounting, so does the accuracy of your accounting software. Twenty years ago, everything relied on manual data entry, and a simple typo could have disastrous effects. Today, data entry methods are easier than ever. You even have the ability to scan in accounting documents and let the software fill in all the correct forms based on the image of the document. While this isn’t 100% error free and it’s still a good idea to look over anything entered into your accounting software, the margin of error is much more narrow than it used to be.

A Change In Training

In many ways, accountants no longer need the training they once did in terms of crunching numbers. As accounting technology has become smarter, it’s also become easier to perform tax prep and business accounting analysis without spending years getting a degree in accounting. In other ways, however, accountants need more diverse training. For instance, accountants should have a good sense of IT as the two fields are becoming more and more combined. They do still need to have an understanding of business and a good head for numbers, even with more and more convenient software, but this is an area that’s becoming more diverse every day.

Fortunately, as technology advances and accounting becomes more digital, so do the resources you have to keep up with the latest in accounting. At TCA Darwin, we can offer help choosing, implementing, and training for some of the best cloud based accounting programs available. We also offer remote IT support when you need it and help with software migration so you can move all your old accounting documents onto your new cloud based system. Contact us today for more information or to book an appointment.