Technological advancement in all areas of life means the growth of cloud accounting software which has led to the major question ‘will bookkeepers become obsolete?’
And the answer is Yes if they don’t adapt to the changes they may find themselves thrown out of business.
The traditional bookkeeper
A traditional bookkeeper had a duty to receive financial documents like receipts, bank statements among other financial transaction documents after the close of a month from their clients. They were then supposed to feed in the key relevant information in an accounting software, reconcile the accounts and balance the accounts. This would often take longer to finish. Today, everything is on cloud software and if you need your financial transactions at any time you just need to log in to an automatic bank feeds and the balances will be delivered to you shortly. Unlike the former bookkeeper requirement, its essential to be knowledgeable in accounting and be very fast in data entry as well as accounting software knowledge because the detailed information is stored in the cloud and the calculations are done by cloud bookkeepers.
A good cloud bookkeeper should be knowledgeable about accounting software, eliminate data entry and stand out with customer service especially in taking their time to interpret to the customers the financial information.
What to do as bookkeeper today
Develop a solid understanding of accounting
It’s not only about QuickBooks, take your time to understand the debits …