Our friends over at Accounting-Degree.org put together this excellent infographic on how accounting has been changed over time by technology. This graphic begins with a short background on the father of modern accounting, Luca Pacioli, who was the first person to describe the systems of debts, credits, journals and ledgers. Then it goes on to some of the more modern approaches to accounting as well as some facts and statistics on accounting technology and cloud-based accounting software.
Oddly enough, some of the challenges that accountants struggled with before computers came into play are some of the same problems many of our clients continue to struggle with today. Manual entries, mistakes and “missing” money and tedious error-proofing are all too common today even though modern technology solves this issue.
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