How Accounting Technology Can Benefit Your Business
Innovation and invention are born out of need. The need to help, the need to change the world, and the need to fix problems.
In the 1880s, William Seward Burroughs invented the first adding machine because he didn’t want to continue to count numbers at his bank job tirelessly.
The product took the world by storm. It was the first mainstream calculator. Almost exactly one hundred years later, in 1987, Microsoft created Excel. This is likely one of the greatest innovations in the history of accounting and is still widely used today throughout hundreds of industries.
Since then, many inventions and innovations have been made that have helped businesses thrive and jobs become less cumbersome. For example, accounting technology and the creation of cloud-based platforms like QuickBooks Online have helped businesses push forward and do more without spending countless hours working on accounting tasks.
Accounting technology has shaped businesses for years and will continue until the end of time. However, in 2022, where are we at when it comes to accounting technology? Specifically, how can accounting technology benefit your business?
That’s the question we’ll be answering today.
Accounting Technology In 2022
If you’re still using paper invoices, printed or Excel spreadsheets, and have stacks of files cluttering your office, it’s time to make a change and let accounting technology work its magic!
Save Time
In today’s world, just about everything can be done online and in the cloud. With the click of a button, invoices can be sent, bills can be paid, and accounting transactions can be automatically imported and categorized.
Time savings are one of the most impactful ways accounting technology can benefit your business.
Not sure if you’re ready to move to the cloud?
Well, there’s a reason 80% of small businesses utilize cloud accounting to help them run their business. They can automate certain tasks, and you can integrate various platforms like Gusto, Bill.com, and Expensify with QuickBooks for a more streamlined and efficient workflow.
Think of what you can be doing for your business with the hours saved per month and total days saved per year by utilizing intelligent, revolutionary accounting technology.
Save Money
As a small business owner, every dollar matters. Even though 60% of small business owners admit that they don’t know a lot about accounting and financial processes, they might not have enough money to hire an in-house bookkeeper or accountant.
With the ability to connect anywhere with cloud-based accounting software, you can hire a virtual accounting professional (like us!) to handle the tasks you aren’t comfortable with.
Virtual accounting professionals work on YOUR time and work the amount needed, which may be a little or a lot depending on what you need to be done.
Pro Tip: Read our latest article on the reasons to outsource your payroll processing services for more insight!
You save money by reducing overhead costs of hiring a full-time in-house employee and also save money by allowing your accounting professional to help you find ways to reduce costs by having organized financial statements.
Partner With Redmond Accounting To Find Out How Accounting Technology Can Benefit Your Business
To continue growing your business, it’s important to ensure that your accounting processes set you up for success. Here at Redmond Accounting, we are 100% virtual accounting professionals who can work with small and medium-sized businesses anywhere in the nation!
We stay up to date with the latest accounting trends and even partner with top accounting software companies when it comes to support, education and training!
To learn more about how we can help you schedule a consultation to discuss your accounting needs!
