Accounting Data & Its Evolution

In the early part of my career I always wondered about volumes of data and its evolution to meaningful information.

Why was it so difficult in the 1960s to take raw data and enter it on the "clunker" general ledger machines? Data was posted on large cards or paper tape for conversion to a detailed list of general ledger transactions, that added to nil.

In those days the most senior accounts clerk was the general ledger operator. Their responsibility was clear-cut. Have a general ledger listing completed and handed to the Accountant by say the 10th working day of the month. The trainee Accountant (University Commerce graduate) commencing in the accounts department needed to understand the process, systems and output of the general ledger department.

Then came the time-sharing computer in the late 1960s. What was this crazy thing called a computer? The word computer was derived from the word compute... to calculate, figure, work out, add, subtract, divide, multiply etc. In those days it was a tool for the accountants, the financiers, the scientists - i.e., the calculators. Time-sharing by computer bureaus became the norm.

From the 1980s we had desktop computers, followed by personal computers and now tablets... all with software programs and applications.

Accounting application software was developed to capture data from source documents. The data entry of transactions showing on customer invoices, supplier invoices, merchant statements and bank statements is still undertaken manually.

Jump to 2012 and digibookxâ„¢ develops OCR (optical character recognition) technology and a patented mapping process that revolutionises accounting data entry... no more physical data entry... just scan source documents and map to the appropriate account code. The benefits are huge... saving you TIME and MONEY.

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