What is the Future of Bookkeeping?

What is the Future of Bookkeeping

What is the Future of Bookkeeping?

Bookkeeping is something that every small business must do and there is no escaping from it – unless you don’t mind the ATO knocking on your door.

However, the world is changing rapidly and the days of bookkeeping being done using a pen and a double entry notebook are on the way out.

Now even using an Excel spreadsheet is considered archaic to some. If you want to be successful with your bookkeeping, you need to work smart.

How Technology Makes Bookkeeping Easier

Bookkeeping used to be a time-consuming process that required a lot of attention to detail, and a proactive approach.

It was also very time consuming and would take up a lot of time manually entering every transaction when it came around. This is now no longer the case.

Today, you can automate a lot of these tasks, importing transactions in batches, and then classifying them so that your books are accurate.

Reporting is easier, and importing transactions from your bank account into QuickBooks, Wave, Sage or other software programs is a lot easier than it used to be.

Do Your Books Anywhere

Another area that has improved a lot in recent years is the accessibility of bookkeeping software.

Accounting software used to be so expensive and if you wanted to make the most out of it you had to spend a lot of money on training.

Now, there are affordable cloud versions of the software that are very easy to use and that do not require special training.  

Cloud-based software makes some of the more complex parts of bookkeeping far more accessible and is one example of how, in many ways, the future is already here.

A Client-Centric Approach

Now that bookkeeping is so much simpler for the average business owner, what does that mean for the future of bookkeeping as a job?

It’s fair to say that those who want to continue to work in bookkeeping will need to take a more client-centric approach.

They will need to expand their offerings and adapt their workflows so that clients can see value in hiring someone to do something that is becoming increasingly perceived as “playing with numbers and charts”.

That is the approach that we take at NumbersPro.

We spend a lot of time talking to people and explaining expenses, helping businesses scale, and generally taking more of an advisory role.

Rather than simply totalling up income and expenditure, we are now pouring over the data that is available in QuickBooks or other accounting apps, and interpreting that data for you.

We understand that today, there is more to bookkeeping than just crunching the numbers because any old software can do that.

It is now more about interpreting the data that comes out and acting as a listener and an advisor for the client which is important.

We also understand that there are some smaller businesses that will be happy having someone to farm their reporting off to because they are strapped for time and want to focus on the things that they do best.

We are happy to work with clients to figure out what will serve them best.

The Profession is Evolving

The proliferation of technology, AI and automation has reached the point where it’s not just menial jobs that are being forced to evolve, but even knowledge-based jobs.

Bookkeepers are starting to offer more and more services that complement the basic ‘managing of the books’, and that is what we are here to help you with.

If you looking for a trustworthy and reliable bookkeeping service at reasonable prices, then look no further than Numbers Pro.

We offer a blend of truly personal service and expertise, so please call us today on 03 9510 2120 or contact us through our website https://numberspro.com.au/contact-us/

Share this post


Numbers Pro

send