Bookkeepers – What is your Future?
The world continues to change rapidly as technology develops to improve the automation of mechanical tasks and to deliver us information via digital means.
The Software companies are rightfully bringing these changes to us. It was refreshing and encouraging to see Xero not only recognise the role of Bookkeepers in effective use of their software but to invest significant time in proving that Businesses with good Bookkeepers perform better. It's great to have MYOB openly encouraging the role of Bookkeepers before 100's of Accountants.
Software companies are increasingly recogising the significant positive role of Bookkeepers.
Why is That?
Bookkeepers know the business. Good bookkeepers know Business Software. They should and are bringing the best technology and the best use of that technology to business. Bookkeepers should be assisting the journey to automating mechanical tasks and (begin or) continue to invest their time in Business System and Performance Improvement.
Our first graphical representation of the changes being brought to us was:
This shows that as technology improves, our requirement to spend time in simply performing the processing diminishes (as we use Invoice Recognition software to read the Suppliers Invoices, Electronic payment gateways both to receive and spend money, bank feeds to speed up the reconciliation process) then we will be able to;
- Provide more certainty to the business (by verifying that they are actually complying with their tax and other requirements) and
- Provide more information and therefore understanding to the business management about what is going on in the business.
A basic premise is that business owners only want to spend a (limited) certain amount of time and money on their bookkeeping process. If we can alter the investment of that time away from processing and into Certainty and Understanding I believe business will perform better.
Another thought develops the journey.
Bookkeepers already do “Business Process Consulting” helping business to put the best solutions into the business. Todays rapid development of technology is bringing us better solutions and more integrated solutions. Bookkeepers are in the best position to perform these multiple Business Improvement roles.
Data-entry personnel: it is said “your future is limited”. The change and reduction in performing mechanical processing is here. Upgrade to become a Bookkeeper that helps set up technology driven business systems, that enables quicker smarter reporting.The accountants and others who are claiming bookkeeping is dead is because they think bookkeeping is the processing of what has already happened in the business. We know better.
Bookkeepers Strategy Suggestions
Invest time in knowing the right and best way to use your chosen accounting software. Develop or obtain knowledge on how to use other technology to enhance business process
- Obtaining simple websites for your clients
- Adding a “shop” or ordering function on that website
- Enabling the website to talk straight into the accounting software
- Enabling a Mobile to generate Sales for some businesses
- Use that same mobile to receive the payment immediately
- Using Invoice Recognition Software to read suppliers invoices
- Sending Sales Invoices by email or other technology
- Enable payments by an automatic payment gateway connected to the Accounting Software (software companies lift your game, its not that hard, you are doing it for Super now, do it for every other payment I have to make (We are getting there slowly))
Bookkeepers don’t be worried – even the software companies are now promoting YOU as the preferred option to make their software work better. They have worked out that if a business has a good bookkeeper then their software performs so much better.
ICB member resources include detailed strategy plans and solutions