Will Accounting Software Make Accountants Obsolete?

In Accounting By mainadmin

Sci-fi movies are filled with stories of humans being over run by machines. In the movies, humans get annihilated by human robots. In real life, there are certainly cases where machines replaced the work done by humans. This is most prevalent in manufacturing.

Technology was created to help humans. However, we astound even ourselves on how far we have come to ease into daily tasks. This is no different with accounting software.

But accounting is not just any task or job in a company that an accounting software can replace. The job entails a lot of things than just counting numbers that computers can obviously do faster. Not all jobs are straight up, smooth paved roads, and this is the case with accounting. As a Quora respondent said, accounting is not just black and white, in fact, there are more gray areas than black or white.

To enumerate the many tasks of an accountant:

  1. Financial Reporting
  2. Management Accounting
  3. Audit/ Risk Management
  4. Tax
  5. Accounts Payable/Receivable
  6. Financial Planning
  7. And lot more gray areas!

Some of these tasks can be done by an accounting software, but software needs to be updated, re-coded so to speak, every once in a while. If we’re lucky, it does not need to be updated as soon as we have integrated it into our system. All things considered, there is a human side to accounting, such as legislations, company policies, laws, norms and a lot more that humans do to keep up with the times or improve processes.

Given these points, no, accountants will never be replaced by an accounting software. Software will evolve, or another version will be created in lieu of the most recent one. On the other hand, accountants train, learn, certify to be on top of a company’s finances. One legislation or policy miss and the company is in danger of being penalized. In other cases, when accountants do not step up, businesses become stagnant, or worse, die.

On another note, client advisory services are on the rise this year. These are value added services expected of accounting firms to grow businesses alongside C-level executives. Though this means higher use of accounting software, it also frees up accountants of routine tasks to focus on business bottom line.

Let us not be so quick as to dismiss accountants. They are, after all, the brains behind any accounting software out there.

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