Why are bookkeepers important?
Bookkeepers have always been an integral part of successful, growing businesses, but their value is often discounted. To someone without an accounting background, the profession may seem straightforward and fairly static. While it is true that the foundations of performing the business' accounting rarely changes, the bookkeeping profession has been constantly evolving and expanding. This is due to software innovations.
Bookkeeping software helps to reduce the time it takes to record the business' income and expenses, while simultaneously improving the financial transparency and controls.
Our team of bookkeepers and senior accountants ensure that you're always organized, on top of your taxes and have accurate accounting.
Innovation in bookkeeping - a stagnant field
It's hard to believe how different things were for bookkeepers just 20 years ago.
We now have come to expect a remotely located bookkeeper, who can provide on demand reporting from your cloud based accounting system, and make payments anytime electronically. Now, imagine just a few decades ago. Instead of having your current bookkeeper and process, your business required a small team of processing clerks. They laboriously entered transactions into master files, ledgers and journals. All the while secretaries spent hours processing invoices, checks and other communication on typewriters. Then, management had to painstakingly go through each invoice and either approve or deny it. Lastly, a manager needed to sign the check, which then needed to be put into envelopes and mailed.
Related reading: Bookkeeper salary and duties
How bookkeeping has changed
Thanks to advances in processing by the banking industry, innovation in software, and the desire to reduce labor, the bookkeeping profession has moved away from hand written journals. We now use efficient, multi-functional cloud based accounting and payment systems. These systems are not independent, but instead talk to each other. This further reduces the labor and effort it takes to successfully integrate and use bookkeeping software.
Today, bookkeepers live inside cloud based systems like QuickBooks Online that are seamlessly connected to systems like Bill.com, Expensify, Gusto and other systems. These systems simplify just about any back-office function that you can imagine.
The not too distant future of bookkeeping
Not only is it important to have a bookkeeper that can thrive in this modern, cloud-based atmosphere.
You will need someone who is ready to continue following down the path of constant innovation. Just imagine the near future where QuickBooks is connected to social media. Platforms like Facebook, WhatsApp, and LinkedIn, as well as other travel, productivity, and customer engagement applications. All helping you reach millions of new potential customers.