When we think about the profession of accounting, we imagine people buried behind their calculators and account books. Nowadays this image is faded, the age of online technology has introduced the accounting field to the embrace of accounting software. Bookeeping is very popular for their bookeeping services and consultancy.The question we can now start asking is whether or not, digital development is an hindrance to the profession of public accounting?
Using software doesn't have to jeopardize the public accounting profession. Instead, it can be used as a quicker solution, assisting experts in checking if accounting is guaranteed. The accountant is still crucial for the creation of businesses, tax calculations, as well as social and legal treatment in society. The consultancy office is probably best if held by a trustworthy person who knows all the ins and outs of the industry.
Like many other traditional industries, digital technology improves accounting. Research reports that companies that are not progressing in using accounting software hardly survive without updating current methods. However, digitization does not automatically mean that machines simply replace people. Instead, it will level the playing field for people to handle their own accounts and improve public access to documents, thus reducing errors. This results in a new approach to your practice.
In addition to the software's practical uses, it allows significant advantages. The software quickly and accurately calculates the information and saves the company precious time. Updates are made periodically to provide clear accounting and optimum analysis. Firms are fond of accountant software because it is easier and can quickly find out which accounts the company has and can edit entries and documents in real time.
According to the 2017 digital transformation indicator of accounting firms, 74 percent of the firms surveyed confirmed that their practice has already been digitally transformed. Only about 7 percent of participants in the survey indicated that they had not completed this change.
Automatic tasks Software (quickbooks, myob, Xero etc.) improves efficiency and saves you time on low - value tasks such as:
creation of online pay stubs,
sending balance sheets after customer appointment, etc.
You achieve reactivity for your customers by updating information in real time.
Software like quickbooks can automate some more of your time - consuming tasks, this way you give your customers more time and leverage their expertise in a consultative position. In this way digital methods improve the accountants ' relationship with their customers. In fact, 92 percent of companies give motivation to customer relationships (+ 11 percent compared to a year ago). The software is a genuine tool for customer care. You customize your relationship with your clients and your loyalty.
According to a consultation study, the majority of dematerialization is advanced, with more revenue per employee.
The process of digitizing the profession can lead to two new roles:
New production accounting tools, but also to enhance integration and customer relation marketing;
A new organization: the cabinets are transformed into higher value - added tasks and a new task distribution.
The software used for accounts also provides you with cloud security for your data and your customers. You can, without fear, transfer, share and archive your documents.
The accountants' tools in Xero for example, go beyond the key accounting features. They are real business management tools to manage your CRM, accounting, document management portfolio, etc.
Management tools are talked about, but also analysis software can also be used with management software, and often inseparably. This accounting software is a real asset for companies that wish to keep their own accounts. Accountant professionals are just as important, however, but they work more for financial planning. Common procedures such as accounting, account consultation, lettering to customers / suppliers can be performed through the software.
Accountant software enables companies to keep all transactions and to transcribe them for a certain time. Some think that such a software is anything but an evil algorithm that replaces an accountant to track the confidential transactions of suppliers, contractors, shareholders and corporations. Others think this software is only an internal development tool, made readily available by respectable software firms.
Quickbooks is the software dedicated to auditors, making it the leading software for small business accounting. More than 100,000 accountants and over a million business owners worldwide place their trust in their digitized solutions. It automates accounting tasks, giving them significant time savings and enabling them to provide their customers with real added value.
Xero is a cooperative account management platform published and designed for digital management by accountants in your company. This device automates simple tasks like processing and confiscation of components and bank records. You therefore allow time to form stronger bonds with your clients when advising them in their business plan. It also provides its clients with access to real-time business visibility through records and strategic options.
Myob customers represent over 650 chartered accounting firms. The solution provides an interface between your company and your customers using a simplified online dyi accountant software. It provides high - quality customer support granting you full access to the accounting information of your clients,turnover, issued invoices and credit notes, VAT management, etc. in a few clicks.
The real difference with an accountant, including business administration, is the communicating party. If accounting issues arise, both can indeed reach those affected efficiently. There is just a more personal and human side of the business when accounting tasks are carried out by a person. Sure the software gives us convenience but an expert can physically participate in company presentations to ensure the financial statement target. The professional accountant will also certify that the annual reports are consistent, impartial and rational, which is a key step in the company's development. We can barely do without these specialists, even if software is gradually replacing them.