Question

How might computerized accounting, such as QuickBooks, change the face of business?

What are some of the different programs, besides QuickBooks, in the marketplace?

Answer 1

The innovation in computer technology has resulted in a revolutionary accounting impact. The manual and bulky general ledgers and journal books are a past thing; and are replaced by computerized accounting which has made the entire process more error-free and much simpler. QuickBooks is the top rated small business accounting software with a choice for small business accounting with features such as online bank syncing, custom invoicing, and automatic backups; and has changed the face of business. It helps to organise the business and makes it easier to meet HMRC requirements. Today the accountants no longer faces the painstakingly carry each balance into the accounting books and then manually type it. The QuickBooks provide the statements out with increasing efficiency and speed. Payroll, year-end tax return preparation, payroll tax preparation, and W-2 processing have became computerized which results to higher accuracy and saves time.

Apart from QuickBooks, there are numerous commercial accounting software such as Turbo-Cash, Sage, Wave, Xero, Zoho or Fresh-Books in the market that can handle the entire accounting for a small- to mid-size business's accounting requirements. These provide several advantages over manual accounting, such as cost-effectiveness, increased efficiency, higher accuracy, more reliability, easier access, better scalability, mobility, backup and recovery, stronger security, customizability and automation