A Loveletter to Ledger Books
We had a chat with a new client this week who got us feeling very nostalgic. Why? Because they have large physical ledger books that are filled out manually and it made us somewhat pine for years gone by. Many of our accountants (we’ll name no names!) learned their craft on these traditional systems.
If you’ve ever watched your family members painstakingly tally up their financial transactions in a manual ledger book for their small business, or indeed used one yourself, you can appreciate the incredible transformation that the accounting industry has undergone in recent years.
Gone are the days of manual calculations and ledger books. Nowadays, accounting software and other technological tools have revolutionized the way accounting is done, making it more efficient, accurate, and convenient than ever before.
Balancing the (Ledger) Books
Back in the day, accounting was a time-consuming and tedious process. You had to manually record every financial transaction, perform complex calculations on paper, and double-check everything to ensure accuracy. It was a daunting task, especially for small business owners who had to balance running their business with keeping their books up-to-date.
Fast forward to today, and things have changed dramatically. Small business owners can now leverage the power of accounting software to streamline their bookkeeping processes, making it easier to manage their finances and stay on top of their business performance.
With accounting software, you can automate repetitive tasks like data entry, invoicing, and reconciliation. This not only saves time but also reduces the risk of errors and discrepancies. You can also generate real-time financial reports and access analytics to track your business’s performance and make informed decisions.
Got your head in the clouds?
Cloud-based accounting like ours allows you to access your financial data from anywhere, making it easier to collaborate with your accountant or bookkeeper remotely. You can also easily integrate other business tools like open banking or payment systems to further streamline your operations.
The accounting industry has come a long way from the days of manual calculations and ledger books. With the advent of accounting software and other technological tools, small business owners can now manage their finances more efficiently and accurately than ever before. So, if you’re still stuck in the old-school way of doing your books, it’s time to embrace technology and watch your small business thrive.
We’re excited to receive our new clients books in to our HQ by post and digitise them fully. It’s secure, easy to use and far more efficient. So if you’re a ‘paper person’ and can’t bring yourself to move away from those volumes, we still have an awesome solution for you. Just pop your paperwork in our purple envelopes and we’ll do all the tallying for you, all fully Making Tax Digital Compliant of course!
