There are many reasons that businesses outsource their bookkeeping to Bookkeepers Hereford way and some of the most common reasons are the cost and time savings that they can bring to a business. Whilst cloud accounting software is a relatively new phenomenon, bookkeeping itself and the principles that these systems are built on have been around for many years.
Bookkeeping has its roots in ancient times in the UK with the earliest known record keeping practices coming from the medieval period. During this time merchants used handwritten ledgers to keep a track of all their transactions. One of the most well known forms of ledgers was that of the Doomsday Book which was completed in 1086. The survey was commissioned by William the Conqueror as a way to assess and hold a record on the taxes and landholdings within the country.
During the Industrial Revolution a number of changes to financial recording occurred. Due to the increase in the number of factories and industrial businesses that were thriving across the country, there was a need for business finances to be managed both accurately and efficiently to allow for business growth.
As mentioned above, modern technology, such as cloud based accounting systems has allowed for more businesses to get a good understanding of their business finances. This has given business owners the information that they need to be able to continue to grow their businesses.
