For basic bookkeeping, yes, you can generate all the needed reports and tax filings from the books. I'm in Europe and I've had a couple of companies where I had

For basic bookkeeping, yes, you can generate all the needed reports and tax filings from the books. I'm in Europe and I've had a couple of companies where I had no accountant - I just entered all the transactions in the software and it generated all the necessary filings for me. Payroll is also auto-generated, taxes handled etc. For complex accounting and analysis you still need accountants and business analysts. It's a different type of job in that case though: instead of handling the common cases, you handle the edge cases that the software is unable to deal with.