Evolving technology in accounting

16 Jun 2017

The modern world is evolving, and technology along with it. The days of using pen and paper to balance the books and verify ledgers are long gone for many accountants. With new software integrating its way into the lives of many accounting practices, those in the industry are now required to identify which methods best suit traditional practices.

The advancement of accounting software

Alongside the development of new devices, software has improved in leaps and bounds in recent years. The intelligence and accessibility of computerised software has helped to minimise the issue of human error, and transform the way accounts and returns are finalised and submitted.

In fact, the development of computerised accounting software has revolutionised the way in which many accountants work. Software such as Xero and QuickBooks can offer virtual IT, large-scale data analytics, and the ability to back up data without physically needing to store it. Cloud storage enables secure file access from anywhere in the world.

One potential negative which can be associated with accounting software is the issue of data security, and in the light of recent cyber ransomware attacks it is essential to ensure that your chosen software provider has adequate protection.

Your online future

Websites have also increasingly become an important and beneficial tool for businesses, and nowadays having an online presence is considered by many accountants to be an essential part of their marketing strategy. Many prospective clients will conduct research online as their first port of call when looking for services. This makes having an attractive and easily accessible website, with clear branding and a coherent marketing message, more important than ever. As technology continues to develop apace, people are also increasingly using a range of technical devices as business tools, including mobile applications such as tax apps, and this is transforming the way in which accountants provide their services.

In today’s fast-paced digital environment, it is important to move with the times.

Did you know that we offer a fully branded taxapp, designed in line with your firm’s current website and marketing materials?

The specialist team at Practice Track Online can provide you with an app which is personalised to your brand, complete with up-to-date tax content and useful tools and resources. For more information, click here or call us on 0116 258 1242.

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