Detailed Overview of Specific Technology

Out of the three technologies listed above with accounting, I believe that the accounting software is the most important for this particular career. It allows for things to go more smoothly and for the work to be done more efficiently and quicker. Without it, the accounting process would seem far longer and would be much more frustrating to complete without the help of the supporting software. This software does four main things.

It produces the business forms that are needed in accounting, these include invoices, statements, checks, and other purchase order forms, cash register receipts, etc. which are all used daily in accounting. The second thing it does is it calculates whether or not a business is making money. It shows the calculation and makes it far easier to discover whether or not the business is successful or not. It does this by simply keeping track of revenue and expenses. The third thing it does is it shows the financial position of the business, which is usually shown by the balance sheet. That means it lists the firm’s assets, liabilities, and the difference between the two things, which is its equity. The final main thing that accounting software does is it keeps a detailed record of the most important assets for a business or firm such as cash, customer accounts receivable, and inventory of liabilities such as amount owed to vendors, employees, government, lenders, etc. This allows for much easier organization when the software does most of the work for the accountant.