| Modern accounting practice has seen a great deal of | | | | bookkeeping than the old local, pencil-and-paper model. |
| change in the past thirty years, both as a result of new | | | | Also value billing is forcing accounting specialists to |
| techniques made available by accounting software | | | | become more efficient, since it is no longer possible to |
| companies, and also due to the internet. In ancient | | | | cover up inefficient work merely by putting more time |
| times accounting consisted of keeping books in big | | | | into the project. The shift from clients paying |
| ledgers, and was overseen by professionals with | | | | accounting firms per billable hour to a system of fixed |
| specialized training in accounting practice. Nowadays | | | | fees forced this change, to the benefit of clients. |
| accounting is considered a general business activity, | | | | Another great advantage of a hosted accounting |
| and clients, employees, and the general public look to | | | | package is the short time required to transfer |
| the accounting details of the businesses with which | | | | information between the client and the accounting firm. |
| they are associated. Much more transparency is | | | | Immediate, seamless transfer of information is much |
| required in today's business climate. | | | | faster and more efficient: the accounting firm has real |
| In line with the development of Information Technology | | | | time access to the client's sourcing documents and |
| and advances in computer science, accounting is now | | | | can access any information it needs from the client's |
| web based and has come a long way in little time. | | | | side at any time. Online accounting also permits the |
| New software and online accountant services - | | | | accounting firm to access client's data from remote |
| considered experimental just a few years ago, are | | | | locations with just a few clicks on a web browser. |
| now a runaway business. One reason for the growth | | | | Time-sensitive financial data is instantly available to the |
| of online accounting has been the rising trend of | | | | accountant and client. Because the client has |
| outsourcing accounting work in response to changes in | | | | immediate access to necessary information and |
| the labor market. Outsourcing accounting and | | | | time-sensitive documents, problems and questions can |
| bookkeeping is usually quite a bit cheaper than hiring | | | | easily be identified and resolved. This means increased |
| and supervising in house labor. The internet is seen as | | | | profits and happy clients. |
| the basis of more cost-effective and efficient | | | | |