Business owner here. Balanced accounting is still very much a thriving industry and when you’re dealing with large amounts of money, net 30 terms or paying with checks means those dollars spend a few more days/weeks in your account accruing interest for you.
Balancing the checkbook isn’t a chore anymore not because we don’t use checks, but because technology makes the balancing bit so much more automated. I enter one transaction and the software automatically creates the necessary debit and credit entries in my books.
Business owner here. Balanced accounting is still very much a thriving industry and when you’re dealing with large amounts of money, net 30 terms or paying with checks means those dollars spend a few more days/weeks in your account accruing interest for you.
Balancing the checkbook isn’t a chore anymore not because we don’t use checks, but because technology makes the balancing bit so much more automated. I enter one transaction and the software automatically creates the necessary debit and credit entries in my books.