Am I right in assuming that all this accounting software is provided to small businesses by accountants so that they can do their own accounts and all that's left at the end of the year for you accountants to do is file them.
No you are not right. The software is provided by accountants to small businesses so that:
- The bookkeeping is done to a good standard and can be checked;
- Clients can do their own reports at the click of a button;
- Real time information and advice can be given rather than retrospectively;
- Fees are lower due for clients due to better records kept;
- Increased value given to clients due to time saved at year end.
Note that this does not mean it is just a case of filing accounts at year end, rather a better starting point is obtained.
As with all business relationships, nothing works unless mutually beneficial. Kashflow win due to the fees paid by accountants, accountants win due to the above, clients win as they are more in control with software designed for them to use.
With regard to earlier claims that it is expensive, I fail to see it. Comparisons made are not like for like and at the current cost, with the features given, the capability, the upgrades and the support I think that it is good value for money.
There are always cheaper options in price terms but if you factor in the whole picture then a lot of the cheaper options work out more expensive in the long term, even if not just on monetory terms - depends how you value your time.
