subject: Accounting Records Go Digital - What Are The Benefits? [print this page] With the current trend in technology -the computer and the internet particularly, even accountants go on-line. But what does an accountant do? The conception is that these professionals take charge of the financial matters of the business. But even if you are an individual not engaged in any business, the accountant can be a good help as financial adviser and counselor.
Accounting financial statements are already computerized. Gone are the days when the bookkeeper has to keep track of every transaction and enter them in the journal, after which the preparation of the trial balance flows. Today, there are lots of software that can be used by any accounting firm to record the transactions of any client.
The world of accountancy has turned fully automated. Although not all accounting offices have upgraded their system, high class ones did it and to the advantage of clients, especially businessmen. With the use of communication technology, the employees, consultants, management, suppliers and even potential clients can be brought together.
Accounting firms term their new approach as digital edge. Here, the client and the accounting firm can work together without either of them leaving the office for consultation. Several important issues can be implemented such as document sharing, software applications, billing, bookkeeping, payroll and tax. Such digital edge is just simple, smooth and functional. This functional operation environment is done with ease and accuracy.
How is this managed? The client will simply call the accounting firm. Then both will log-in to a virtual private office. This is a portal that can be accessed by the firm and the client - exclusively. Then the details of transactions, applications, bookkeeping and exchange of documents can be undergone - all in real time and without departure from the office or home. Under the digital edge technology the client can store any kind of documents and files without worrying on its safety. These records are secured and can be made available for on-the-spot retrieval. And this is done anywhere, anytime you want.
Benefits derived from this digital edge can bring profitability to the firm.
Time constraint can be eliminated, where requested information can be provided to remote users on a real time basis. The other benefit toward profitability is elimination of several prohibitive expenses such as long distance, international calls, conferencing sites and pay per use videos. Business can do inquiry from his actual vantage point - therefore the digital edge is useful to remote users as the can get rid of geographic constraints.
If you have done banking through the internet, you can now access your accounting record via the internet also. If you are one business who is always on-the-got, your digital edge technology can save a lot of time and money.
