Accounting is a science of keeping records of all business transactions throughout one fiscal year and using this record to monitor the milestones in the budget. In the past accounting practices were done offline which was full of tremendous effort, risk of data loss, fraudulent audits, and many alike massive complications. To cope with this accounting software was introduced and the code was written quite intelligently to tackle every possible loophole in such a sensitive system.
The History of Offline Accounting Practices:
The journey of offline accounting was started even before the industrial revolution but no exact date is available as its possible date of commencement. In prehistoric times Mesopotamia and Egypt are considered the founders of accounting and it dates back to between 3300 and 2000 BCE. In the 13th century, Europe happened to be responsible for book-keeping, and merchants used to keep records of transactions via book-keeping. In 1458 AD Benedetto Contrugli invented the double-entry accounting system, and this system furthered the book-keeping system. This was a revolution in the history of accounting because the system had changed forever.
The Age of Offline Accounting Practices and its Issues:
The double entry system opened a new era of making ledgers, journals, and business statements. This all was initially performed on paper and thus keeping records for a long time was difficult and no data backup option was available then. The advent of computer technology was a historic moment for the world absolutely. It revolutionized accounting as well and Software was to be coded to meet the accounting needs of the companies. These softwares are still acting today and many latest softwares have been coded as per the market trends. But, for these softwares a company has to have a robust IT department with equipment like servers, network switches, routers, bulky hardware and big data centers to save and store the data. Despite of many other like befits of offline accounting there needs to have big hard disks to store the backups on daily basis.
Cloud Computing for Accounting and Backup Plans:
Cloud computing has a miraculous impact on the businesses and has absolutely shaped up the global village. The personnel and professionals working for the same organization can work together under one umbrella anywhere. The cloud accounting softwares are usually based on AI principles. The backups are usually taken and saved in a big data center environment which provides the unique opportunity to store the big data for future planning and speculations. At data centers usually three copies are made. One is primary and the other two are the backup of the backups. This all is done in a well-managed environment with state-of-the-art hardware and software components.
Many cloud storage companies are offering the services but most of them are expensive. Therefore, it is obligatory to go for economic but technologically advanced cloud accounting software companies. Our recommendation is Alams Global which has experience and good memories of happy clients. Alams offer generic, robust and flexible solutions for cloud accounting.