6 Unconventional Ways Technology Is Improving Accounting

Accounting is more than preparing taxes. Accounting is helping people with their finances in order to buy a house or a new car, set up their estates, plan for their future, or receive help with financial troubles. As the world around us changes, and our financial problems change, accounting too has changed. Here are six unconventional ways technology is improving accounting to keep up with economic changes.

The Internet

The Internet is a huge tool used in accounting today. It’s used to access client’s records, stay in touch with clients, hold meetings with multiple parties, and have one-on-one meetings with clients from anywhere in the world.

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Social Media

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If you think Facebook and Twitter are just for keeping in touch with your friends, you have a lot to learn. Businesses are getting into the practice of using these social media networks to promote their companies and organizations, provide easily accessible information to their clients, and recruit new employees. Other social media networks, such as LinkedIn, are also great ways accounting firms can connect with their clients and employees.

Websites

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These days, it seems everyone has a website. Accounting firms can use this great tool to not only advertise their business, but to keep clients up-to-date on what’s going on with the firm, offer online-accessible benefits, such as an easy way for clients to update their personal information or check on their finances and tax forms.

Education

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A degree in accounting will still get you in the door at most accounting firms, but having a masters degree in accounting will get you a lot further. Thanks to technology, earning your degree has never been easier. There are so many online programs offered now that you can complete most of, if not your entire degree, online. You’ll even have access to resources and people who can help you along the way, find job boards to find and apply for jobs, and learn about the different fields of accounting along the way.

Saving Time

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With all of the new online tax forms, accountants can file their clients’ tax forms faster, easier, and more efficiently. This allows them to take on more clients every year, and build their business. If an accounting firm can bring in more clients during tax season, they can offer them many different services throughout the rest of the year, and have plenty of time to devote to their individual clients.

Saving Money

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With the use of the above-mentioned uses of the Internet, accounting firms can help more clients in less time, therefore saving money on resources. Using this technology to keep clients’ files in electronic format will also save the firms money. Without printing costs, firms can cut back on their outgoing funds, and concentrate more on their incoming funds.

With so many changes in technology, accounting is improving every day. As technology continues to grow, accountants and their firms may find they have more resources at their fingertips than they ever thought possible. These six unconventional ways technology is improving accounting is only the tip of the iceberg.

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