Nowadays there is literally no business that could work without the involvement of a computer and cloud-based technology. And accounting is not an exception: in recent years new online accounting solutions have emerged from nothing and became the leaders of the market. Business owners open for changes love the software because they are not only user-friendly; they automate almost everything that once required endless hours of tedious work. However, as frightening as it may seem, accounting automation is good for both business owners and their trusty accountants.
Cloud accounting software radically reduces the time a business owner and his/her co-workers have to spend with manual data entry. The software’s capability of learning patterns and the many add-ons from time-trackers, payment processors to expense reporting tools and payroll software, make it the equivalent of a well-equipped car. In other words, business owners can finally concentrate on their respective businesses while the software basically prepares everything from invoices, quotes, bills, bank reconciliation, payroll, and, what’s important for you, business reports. Furthermore, automation reduces the possibility of human error as the software will immediately tell its owner when something seems wrong – which you can also do due to the continuous data flow between the regular and the accountants’ versions of accounting solutions.
The aforementioned data flow is crucial for accountants, especially if you are handling the books of more than one client. Thankfully, the automated accounting solutions help you in everything possible: your dashboard works as a ledger where you can see the up-to-date cashflow of each of your clients with transactions that are reconciled, or can be done in a jiffy, and reports that are auto-created so you just have to check them. Plus, if you have permission, you can quickly modify the necessary data anytime from anywhere. You also have the option to create papers for taxing purposes, which, thanks again to automation, happens really fast.
Yes, accountants were, are and will be needed – and there is a very good reason for that. An accounting solution only reduces data entry, gets the job done faster, and produces another bunch of data, so business owners can immediately see how the business is performing. But it still lacks the human factor. Accountants, especially those who are highly involved in business plans, are familiar with specific goals of business owners and they not only provide dry information about the performance of the business, but can take into consideration personal and emotional factors too. So unless they start disobeying you like teenagers, software will never be able to make such complex decisions like a human accountant does and will do.
The only thing you have to do is accept the changes – that many parts of your work will be replaced by automated programs. But as a financial advisor whom a business owners trusts, your future will remain bright and prosperous.
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