Modern cloud based accounting software and productivity tools are having far reaching and prompt impact on the way Australian businesses process their business transactions.
In this article, Sophie Hossack highlights changes from the last 15 years (pre GST) through to cloud accounting software available today, together with the massive impact this is having on not only the way accountants and bookkeepers work, but also the information available to small businesses with real-time data, and the ATO embracing new technology.
Sophie finishes up with forecasting what we can expect this financial year, touching on control moving from the accountant to the business owner, where business owners source their advice and increased competition.
“The next decade will be crucial for accountants and bookkeepers in terms of how they remain relevant in a future of online lodgment and digital services”.
Full article is available from the Tax Institute.