The short answer?
The long answer?
Computer software will never replace your accountant.
We do small business bookkeeping, we prepare individual and corporate tax returns for our clients, and we also consult on small business best practices. Can your QuickBooks subscription do all of that? How about Freshbooks? (Nevermind about Freshbooks, because they do not even allow your accountant to reconcile accounts or make journal entries anyways — vital accounting practices.)
Small businesses, no matter how technologically integrated, are run by humans. And it takes that human touch to understand the entrepreneur’s struggle, which is why we feel so secure in our industry. There will always be a need for human review and consultation. There will always be mistakes that at their core are attributable to human error. The behavior of humans will not be coded.
Many accounting programs boast the memorability of their algorithms. They claim to know what goes on in your life as a small business owner. The programs are designed to learn your habits. But as much as we are creatures of habit, there are exceptions to the rules. Buying lunch for the office once a month at your local taco house doesn’t mean that every transaction at that establishment should be classified as an “Office Expense”. In fact, you also wined and dined your biggest prospect there just last week, which we classify as a “Marketing Expense”.
Technology has come so far in streamlining our processes and adds a ton of value to our services. Which is why we research software additions to our firm extensively. The first thing we look for when investigating the newest, shiniest cyber-tool is ability to collaborate with our clients. We ask whether or not it will expand the paths of communication.
Utilizing technology can reinforce the relationship. But these tools will never replace the personal care by your accountant, who shares the small business experience with you. Don’t remove them from the equation.