Online Banking To Grow 300% in Next Five Years

The number of US households using PC banking services is expected to grow to almost 25 million by 2004, according to the GartnerGroup, a leading authority on Information technology consulting.

According to the GartnerGroup study, 86% of those using online banking cited "Anytime Access" as the prime motivator for usage -- even depite the reservations many still have about online banking.

Up from almost 7 million households at the end of last year, this fast growing trend poses some interesting challenges to the write up and bookkeeping services offered by many CPA firms. As online banking gets easier and more comfortable for consumers and businesses, and as the numbers of users continue to grow, we will be moving closer towards a paperless society. Online bill paying may be great for the environment, but poses quite a challenge for the audit trail.

CPAs who wish to remain the quarterback in the team of business and financial advisors to their clients need to be up-to-speed on the capabilities of online banking services, and take the lead in helping their clients embrace this new technology.

Upcoming CPE Webinars

Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.