Kash is King - The Official Kashoo Blog

Accounting, business and technology insights for those who are blazing their own trail to success.

Accounting and Technology - Fun Facts

Posted by Amrik Randhawa on August 8, 2012 at 3:25 AM

Did you know that accounting technology has been around longer than the profession of accounting itself? Were you ever taught to use an abacus in school? Way, way back, the abacus was the first “calculator”, after people realized they would quickly run out of fingers and toes to count with... the abacus is still so technologically advanced that many people still use it for everyday transactions.

From about the 15th century through the mid-20th century, people in Europe and the Americas who performed accounting functions used paper and pen to do their bookkeeping. Bookkeeping clerks initiated accounting as an actual profession in Britain in the mid-1800s by offering enhanced services to their clients.

Leonardo DaVinci invented a prototype of a computational machine that used thirteen wheels to register numerical digits. Adding machines were invented in the late 1800s. It wasn’t until the 1940s that the first computing machines were introduced for businesses to use, and they took up an entire room although their computing power was miniscule compared to what is available today on your smartphone! By the 1970s and 1980s, calculators and personal computers brought the power of digitized number crunching to a much wider consumer base, although at first, they were still used primarily by bookkeepers, scientists, accountants, and businesses.

In the last couple of decades, however, the computer has revolutionized the way people and businesses keep track of their money and their financial transactions. Today, you can do all of your banking online, prepare your taxes electronically, and invoice your clients and pay your bills with the click of a mouse.

But just as the abacus is an accounting tool, so is your accounting software application. Kashoo Small Business Accounting allows you to upload your banking transactions, invoice your client, generate your financial reports, and track your cash flow all from one safe and secure online application. Data entry errors are reduced; access to your data is ubiquitous from any Mac, PC, smartphone, or iPad. Your data is secure with encryption and redundant daily backups. Kashoo is a full-featured double-entry accounting application that will allow you to easily and seamlessly merge your accounting functions with the latest in today’s technology. Use your abacus for a paperweight.

Topics: Accounting, Financial Technology