Today, our world is the world of information; accounting, and consequently, bookkeeping is the heart of this information epoch. Our information age is a time of immediate access to the data. Information affects our lives and the opportunities we have. To get more benefits from the available information, we need to have some knowledge of the information system.
The information system consists of collecting, processing, and reporting the information with the purpose of making the right decisions. Providing information about what a company owns, what it owes, how it performs is an important aim of accounting.
Bookkeeping is a part of accounting that is also known as recordkeeping – the recording of the company’s financial transactions. In addition to the recordkeeping, accounting also identifies and communicates information about financial transactions and includes such processes as analysis and interpretation.
Using technologies is an important aspect of a successful modern business. Technologies also play a key role in accounting. Times, when bookkeepers were filling the ledger manually, are far behind. Today, even small companies use various software solutions, including bookkeeping programs and accounting systems to manage and control their business activities and financial operations. Computerized bookkeeping programs eliminate many of the paper "books" used to record financial transactions.
The modern technologies have changed the way of financial information storing, processing, and summarizing. Nowadays, planning, consulting, auditing, and other financial services are closely linked to accounting. These financial services require sorting the financial data, identifying key factors, interpreting meaning, analyzing implications.
The right decision can be made in the case of having the right financial information only. Computerized bookkeeping programs allow reducing errors in the financial reports and their quick correction.