SaaS has undoubtedly changed the way small businesses think about and look at accounting these days.
It’s made it easier than ever to organize all the essential data companies need to organize and compile financial documents.
However, even though accounting software has given real accountants a run for their money, they haven’t overtaken them just yet.
Even though the accounting software out today offers powerful insights and convenience to small businesses and companies, it still has its drawbacks.
Accounting software isn’t guaranteed to be mistake-free. One of the main reasons people consult real accountants is for their expertise and knowledge of the ins and outs of the tax system, including exemptions, loopholes, and specific regulations. However, software may not pick up on certain subtleties and may cause you to make errors or mistakes that could have consequences on your business’s financial health.
Furthermore, even if software programs do provide powerful insights, they can’t always tell you how to use them effectively. By using and consulting an accountant they can guide you through the best possible strategies that will put your organization on the path to success. What’s more, they also point out any weaknesses in your numbers and show you what points you need to work on.
It is true that automation is “en mode”, however as a general rule careers with specialized knowledge and skills like accounting are safe, for the time being. Automation and AI in accounting software have yet to reach the level of intelligence and applicability of a real-life accountant.
But never say never, at the rate technology, and in particular, SaaS is advancing we could see accounting software programs that seriously rival real-life accountants.
So that means you’ll just have to stay tuned to Appvizer for all the latest updates and advancements in SaaS!