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Sometimes you find it’s the simple systems that work the best. Back in the day, manual ledgers were the accounting hero for most SMEs. The retro green ledger book, ruled up and reconciled each period, may have been labour intensive, but it worked, pure and simple.
More importantly, the regularity of the work allowed accountants to spot trends within their clients’ data, and to keep track of potential future problems, not to mention the kudos they received for translating green ledger book balances into a GL system, preparing P&Ls and balance sheets, and spending time with their client.
Not only demonstrating their value as accountants, they were performing an advisory service.