Accounting software: a Quick history

The field of accounting has come a long way since the days of Fra Luca Pacioli and Leonardo Da Vinci in the 15th Century. It’s become more sophisticated yet simpler at the same time. This means that business owners are able to take a lot into account when recording business transactions, but this information can be processed faster, easier and more accurately with the help of accounting software.

Your business can have its transactions closely monitored and assessed with the use of accounting software packages currently being offered by QuickBooks. We believe in providing accounting made easy for any small or growing business.

Contact us on 0861 726 657 today and find out more about the packages we have on offer.

How accounting software packages from QuickBooks came to be

First established in 1983 by Americans Scott Cook and Tom Proulx under the name Intuit, this company aimed to provide accounting computer software to simplify financial management for companies.

Here’s a brief history of how QuickBooks came into existence and how it grew to take up 94.2% of the total market in 2008:

  • The first program from Intuit, called Quicken, was designed for individual financial management. It was incredibly successful and led to the development of a similar program for small businesses. The reason for its popularity among business owners is because it required no formal accounting training.
  • However, after some concerns from accounting professionals about the programme’s lack of an audit trail and not conforming to traditional accounting rules, Intuit developed new programmes that addressed these concerns. The new programs included audit trail capabilities as well as double entry accounting functions and other new features.
  • The Basic and Pro versions of Quicken accounting software packages were developed in 2000. This was followed by the development of industry specific versions in 2003. These programmes took into consideration the workflow processes and terminology used in specific industries.
  • 2002 saw the launch of QuickBooks Enterprise Solutions, which was designed for medium-size businesses. Over the following few years, new versions of the software were made that could be used in different regions of the world.

With such a solid history and the ability to adapt to changes in the accounting industry, QuickBooks has become a leader in accounting computer software for small businesses internationally.

Get the best in accounting software for your small business from QuickBooks today.