Did you know that one of the first things printed on a Gutenberg printing press was a treatise by Luca Pacioli, one of the fathers of accounting? Originally penned in 1494, it is mind boggling to think how far Accounting has come since that point.
Considering that automated spreadsheet sums weren’t available until the 1970s! This makes the majority of modern accounting practices less than a century old! Before computerized programs all entries had to be written and balanced manually. This was, as you can imagine, time consuming. It also left more room for human error and when mistakes were made, they were often impossible to find! In a large company, the Accounting department was often huge, with each individual being assigned one role in the great machine that kept everything financially balanced.
Fast forward to the 1970s and the use of computers in the workplace. With the wide spread use of MSDOS companies were able use software like Great Plains to automatically input numbers for calculation. As technology changed, so did software. Imagine being an Accountant and starting your career in the 70s. By now, every system you originally learned on is outdated.
What is the point? The point is the value that is to be had with having a partner in account management. No longer are Accountants just crunching numbers, they are crunching numbers, advising businesses on best practices and able to impact their company’s bottom line. A good accountant can be a business’s best friend when it comes to growth. Imagine not being aware of a change in tax law, or that there are new requirements for payroll in your state. Having a team member dedicated to looking out for your best interest can mean the difference between success and failure.
As we covered in our Basic Accounting Principles blog post, there is a lot to cover to successfully navigate the accounting sphere, and that can get overwhelming. Fortunately we no longer live in the age of the printing press anymore and can use the tools that are out there to assist but if you want an extra boost, Pacific Crest Group is here to help!