If you run a business of your own, you will find a computer based system of tracking your accounting activity to likely be indispensable-
certainly!
I once used to design and program custom accounting systems for small and even larger sized businesses and I can tell you
that the business has much changed over the years in that software has become quite cheap in fact! And with windows based functionality
on your inexpensive computer hardware (prices have come down tremendously I can tell you!), you can do for yourself with very little
investment indeed - relatively speaking. I especially designed great software for retailers and wholesalers needing point of sale and
or order entry systems that were integrated with their General Ledger, Accounts receivable, Accounts Payable and Inventory Control
systems too - most of all! On the other hand, simply having a timely "Income statement" (click on link for a sample of the report - also known as
a P & L or Profit and Loss Statement) and a similarly informative "Balance sheet" is what most have always sought and have often had to
wait too long for, and paid invariably too much for - given the use of "outside accountants" rather than internal resources in the way of a simple
computerized bookkeeping system, which they can maintain on their own and get information from "on the fly" and as often and quickly as
needed instead.