Technologies have impacted greatly on the job of the accountant and even consultants. If you are still in the stone age as an accountant, please put on your technological parachute and migrate quickly.
Also, we are happy that we are in the era of accounting software utilization in book-keeping and financial reporting; yet thousands of companies have not taking advantage of these; in fact, some companies still use manual records while others maintain memorandum records in Excel, which are not good enough.
With the technologies in vogue, I would recommend that…
- If you are an accountant in a company, seek to computerize your system using accounting software.
- If you are a consultant, encourage your clients to migrate.
But there are clients who do not even want to make the investment for an accounting software. How do you handle these type of clients?
Install your own license of accounting software – not a good idea at all. You or the client may run into trouble in the future.
Then what would you do for clients who cannot purchase software?
Here is my advice…
Design an Excel program that works like accounting package just like I have done for some clients. This will automatically update & prepare your General Ledger, Trial Balance, Statement Of Financial Position and , Statement of Profit or Loss, just as you post transactions.
If you need assistance, I can handle that for you based on your own business requirement, with modules that facilitate extraction of analytical information about your business operations. Nothing Is IMPOSSIBLE!!!
In addition to designing a simple Excel accounting program, you can integrate with Dropbox cloud application for multi-user access. If your computer crashes, your accounting information is safe in the cloud. You can actually do this yourself or you learn how to do so by learning from my Advanced Excel Course as well as my Financial Modelling Course
I hope this post is very useful to you? Let me have your comments