I’ve got Xero, I don’t need an Accountant

Hands up if you, as a Bookkeeper or Accountant, have been told that you no longer serve a purpose now that software is here 🙄

I’m not addressing the people in my audience who already have a professional working on their accounts – it would be like preaching to the choir!

So, is accountancy another sector being replaced by automation and software systems? Err…no. There’s no comparison to the value and knowledge that can be imparted by a living breathing professional.

If you’ve ever phoned an automated system and hung up in frustration, you won’t question that suggestion at all!

First and foremost – the software cannot help you to take advantage of the latest lucrative tax breaks and incentives.

It’s intelligent, but it isn’t that clever 😉

Sure, it can keep accurate records of your income and expenses, and it can help you with your tax return, but that only takes you so far when you’re planning the next year of business.

In the last few years and especially during the pandemic, accountants and bookkeepers took on a slightly different role beside their clients. Instead of just crunching numbers and keeping records, they became business advisors, turning the regular data into a steadfast business strategy. That is invaluable.

Ever changed software systems? There’s a big reason why you’re quick to say “no”. Transferring all of your existing data onto a new system and making sure those records are up to date for immediate use is HARD WORK. It can be extremely time-consuming to reconcile each transaction, add your existing contacts, and set up your invoices.

Having an accountant or bookkeeper to regulate this data avoids that grunt work falling to you. And believe me, you won’t have time.

“But my software is now really accessible”.

That’s brilliant! The development of more user-friendly, simplistic dashboards and an improved customer support experience makes most software systems much easier to use, and keeping those records up to date will reduce the fee that your accountant will charge…but it still doesn’t replace them.

Reinvest those savings into interpreting those figures.

Where should you make cutbacks? Which areas of the business need further funding? What grants should you be applying for?

Do you use software in managing your finances?

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