People usually find it hard to relate the tedious numbers in Accounting and the advanced program in Information Technology. However, it is undoubtedly that IT is essential to accounting in many ways.

For a large firm (i.e. Apple), it will be impossible to store all of their cash flow statements, income statements in a warehouse. The implementation of information technology can help company to store the accounting information into databases and make it easier to find the information whenever they are needed. Also, it enables the company to back-up the important data in case they lose it.

The recent development of “cloud” signify another advancement of the combination of accounting and technology management. This advancement significantly reduce the cost of buying hard-drives and some software by providing online storage spaces where you can have an access to it no matter where you are.

Click on the picture to view a short video that explains the advantage of using a Cloud Accounting Software.

Source: http://smallbusiness.chron.com/effectiveness-information-technology-accounting-applications-2102.html