History of Accounting Software: From Paper to the Cloud

Accounting has existed for centuries, and bookkeeping has always been a respected profession. In days past, bookkeepers used paper ledgers and filing systems to record transactions including debits, credits, revenue and expenses. In the late 1800s, machines began to play a role, and with the invention of computers in the 20th century, accounting was transformed entirely. Adding machines introduced in the 1880s did not have any computer features or storage facilities; nevertheless, they simplified the counting process and were used extensively by accountants and bookkeepers. Tabulating or punch-card machines recorded data by punching a unique pattern of holes into cards. These machines could read the pattern to call up that information.

Computerised Online Bookkeeping Software

Bookkeeping software started to become more generalised and user-friendly in the late 1970s with the first spreadsheet software made by Visicalc. This made it feasible to carry out financial modelling on a computer. In 1978, Peachtree Software devised an accounting software package that could work on early personal computers. Soon after, a growing number of businesses started to see the value of buying a computer. It was possible for businesses to computerise their accounting systems at a fraction of the cost of purchasing an expensive mainframe. The first online bookkeeping software for the masses was offered by Peachtree in 1981 with an integrated office suite including a standard word processor and a spreadsheet. In 1983, Intuit launched the Quicken line of accounting software for individuals to use. Intuit designed an interface that was easy to use for non-accountants. By 1985, PCs and accounting software has become an integral part of many business offices worldwide.

Small Business Accounting Software – Easy to use & Affordable

The internet heralded further changes and small business accounting software was again transformed. It was now possible for accountants to manage and audit accounts electronically. There was no longer the need to be physically present, and they could now handle multiple jobs at once. It was even possible to run audits at long-distances. Today, cloud computing allows the storage of large amounts of data online. This makes it easily accessible as accountants can work with the accounts wherever they are, on any computer, or mobile device.

Best Accounting Software & Security

Xero accounting software is a fine example of an intuitive set up which is straightforward to use. It incorporates security features to negate any online threats, such as hacking, malware or spyware attacks. The software has all the modern day functions that make accounting easier. Gone are the days of bulky ring files and stacks of paper. If all the documents, records and accounts are stored correctly, they will be at hand with the simple touch of a button, wherever you may be on the planet. Xero accounting software can be tailored to your business’s needs, cost-effectively and its main advantage is that it is easy accounting software to use.

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