A Bloomberg Report published two years ago estimates that half of the U.S workforce will be replaced by automation in the next decade or two. Cloud accounting automation is replacing the need to have receipts, invoices and bank statements input manually into a system by a human being. So does this mean bookkeepers themselves are in danger of being replaced by the convenience of cloud accounting? The answer is no.
Cloud accounting software is big news these days and as a result, there have been rumblings that bookkeepers won’t be needed. I beg to disagree. Just because you are moving to a cloud based accounting software, that does not mean that by being in the cloud your books are now magically done. Bookkeeping is much more complex than simply entering the numbers.
It is naive to think however, that you can stick your head in the sand and ignore cloud accounting as a passing fad. The role and day to day tasks of the bookkeeper are changing immensely as a result of it. The key to surviving and thriving is to evolve with the technology.
The main change for bookkeepers and accountants is they will need to become cloud and Apps savvy. Now that you aren’t spending all day sifting through receipts, you have time to really get to know the myriad of products available to the client. You’ll know what works best for their business and be able to offer your expert advice and guidance through the process of using cloud accounting. Demand for bookkeepers that can advise on the ever-changing and updating software available will go through the roof.
Next is moving into the role of consultant and expert advisor. Computers can quickly take in and organize the numbers, but they won’t be able to make sense of them and to translate what they mean for the business.
You will need to really know your client’s business. Custom-tailoring their new bookkeeping needs will mean you must have a deep understanding of their business. With this information, you will be an invaluable guide as to what the numbers mean for your client.
The role of the bookkeeper will be streamlined by cloud accounting and bookkeepers will have to accept the technology and adapt their businesses but it is by no means in danger of going extinct. In fact, you will grow your practice. Streamlined bookkeeping is a wonderful opportunity to be able to help more clients and to provide expert bookkeeping consultancy.
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