Trends in Bookkeeping - The Advancement of Technology

I first learnt the art of bookkeeping in high school when I had to buy specially lined notebooks to complete journal entries. In both high school and college, I learnt very traditional, paper-based bookkeeping from traditional, “old school” Accountants where absolutely no short-cuts were allowed. 

Fast forward to 2024 and now, in the world of bookkeeping, technology has advanced how bookkeeping is completed and the role a bookkeeper plays. The fundamentals of bookkeeping are as standard as they’ve ever been, debits are debits and credits are credits. However, the approach to bookkeeping has advanced. 

Now, when a person decides to become a bookkeeper, the skill set they need to learn is as much about learning to use technology and deciding which technology is the right fit for them as much as it is about learning the fundamentals of bookkeeping and accounting. Data entry has become faster, automated, and streamlined. Software has replaced the repetitive nature of data-entry and now does the hard work of getting the information into the system. As bookkeeper’s have adapted to this technology, they now have taken on the role of a problem solvers and analyzer. Taking the information provided and creating solutions and new approaches for business owners to use.

Here are links to some great articles that capture in detail, the advances of technology in bookkeeping and how to choose some options:

https://online.mason.wm.edu/blog/the-role-of-technology-in-modern-accounting 

https://www.efficientlearning.com/cpa/resources/accounting-technology-trends/