Integrated Accounting Vs. Traditional Accounting: 5 Traditional Troubles

Integrated Accounting Versus Traditional AccountingTraditional accounting systems are isolated from operations, and that causes some problems:

1. Traditional accounting information is dated. With manual accounting, accounting information is never up-to-date except for the instant that someone manually closes a period. But integrated cloud accounting is automatically and continuously updated by operations for a complete, accurate, real-time picture of where business stands.

It requires a lot of time and labor to manually take all of the information from operations and re-key it into an accounting system.

2. Traditional accounting takes too long. It requires a

lot of time and labor to manually take all of the information from operations and re-key it into an accounting system. With integrated accounting, the information flows automatically from operations to accounting to eliminate rote tasks.

3. Traditional accounting invites errors. Manual data entry is always an error opportunity. So re-keying information from order management to accounting for every order is bound to lead to mistakes. Integrated accounting removes error opportunities by removing manual re-keying.

4. Traditional accounting requires manual sorting. Not only do professionals have to re-key accounting data in traditional systems, they first have to identify what it is and sort it into cumbersome batches. Integrated accounting systems know what’s A/R, what’s A/P, and what belongs where so information is automatically posted to the right place.

5. Traditional accounting means missed opportunities. You can’t take traditional accounting with you. Integrated cloud accounting opens a world of opportunities. Accounting is tied back to orders, so it’s easy to invoice and receive payment right on the spot – even if that spot is miles from the office.

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