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How Is Technology Affecting The Future Of Accounting?

By Ruoro Kairu 

Nearly every industry has been revolutionized by the progression of technology and the internet.

Take the transport industry for example, in the olden days, you had to manually find a taxi, or have the driver’s number. Today, you can order a taxi from anywhere in less than a minute. Same goes for shopping, within a few minutes, you can stock your house without leaving the couch.

Accounting has not been left behind during the spread of the internet and the advancement of technology.

A decade ago, most companies would have physical accounting books. Today, there are multiple software that you can not only store your accounting data, you can also access them from a remote location.

So, what do these advancements mean for you as an accountant?

1. A lower error margin

One of the key qualities of an effective accountant is being detail-oriented. When you have a keen eye, you’re able to make out even the tiniest of error and rectify. However, you may not be able to see every mistake.

Years back, most of the accounting books would be filled in manually. Today, however, there are software that are not only automated, they also perform intricate calculations and arrive at an accurate figure.

A simple error in accounting can be translated in a way that could affect the whole organization. In this instance, embracing technology can make the accounting profession more accurate in its data recording and interpretation.

For an accountant, you need to familiarize yourself with the major accounting software, such as QuickBooks, in order to be efficient in your workplace.

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