Is bookkeeping becoming extinct??

“Bookkeeping is a growing profession – it is demanding, exciting, challenging and above all, rewarding. It is about understanding how a business works and then providing accurate figures that enable the business to know exactly how well it is doing. Bookkeeping today is far more than entering data and reconciling the bank. Bookkeeping is thinking about the needs of the client, thinking about the processes to get a result.”

— www.icb.org.au/About-Bookkeepers/What-is-Bookkeeping

 

 

My girls (Years 7 & 8) have been taking part in a Business Study Unit at school this term … I’ve been following it with interest.  Not that they thought I might be able to help them with anything … we all know Mum knows nothing, right?!

I was completely floored when one of them said they had been told that bookkeeping wasn’t going to be around for long.  Apparently with all the massive advancements in technology, the bookkeeping profession is diminishing and is not a stable career choice.  WHAT THE???

So I’ve just sent a ..”For your information…” email to the school, offering my services to come in and educate not only the students, but the educators.  And it occurred to me … this isn’t the first time I’ve heard this, and if it so seriously offends me, perhaps I should do something a little more widely proactive.

As a Registered BAS Agent and modern day bookkeeper, I am constantly learning and researching to grow my knowledge base, experimenting and trialling new technologies looking for solutions for my business and the businesses of my clients.  It’s what I do … and I LOVE the challenge of it!  Do people really still think a bookkeeper sits at a computer all day typing bills and sales invoices??? Really!?

Research shows that bookkeepers are embracing and adapting to new technologies faster than many other professions.  Our role with our clients is continually evolving due to, not only changes in technology but, legislation and policy changes as well.  So the industry is not diminishing in any way, moreso it is evolving and adapting, and technology (including things like Artificial Intelligence, bots and increases in automation) can only ever go so far in the services arena.

Bookkeepers are at “the coalface” of small business and, with the right skills, knowledge and application, are in the position to have a major impact on the success and growth of their clients.  Yes, I will find that $0.20 variation in the bank reconciliation but … I will also save you a couple of hours of downtime a week and implement a researched solution that will increase cashflow and enable customer-base growth.

Just ask … if there’s something that can be improved, I’m all over it!!

 

Paul Dunn (B1G1 Chairman, TEDx Speaker), who has spent decades working in the industry, has recently come to this conclusion :  “Bookkeepers THRIVE on connection — frequent connection. They’re somehow closer to where the business owner thinks and acts. And importantly they’re right where the action is. They’re seeing the critical function of cash flow playing out right before their eyes. And they actually have the tools to change things.”

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