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This massively diminishes the value of the decision making process of the accountant and bookkeeper. I'm not aware of any SMB finance software that will, for e
by simonjgreen 4y ago
This massively diminishes the value of the decision making process of the accountant and bookkeeper.
I'm not aware of any SMB finance software that will, for example:
- Know whether to post a transaction as COGS, OpEx, or CapEx.
- Be able to decide if a transaction should be journals across a 24 month period or taken in a single hit.
- Judge the length of depreciation for a particular piece of plant
- Attribute unclear bank receipts to due invoices for reconciliation.
That's just a handful of examples. The software ENABLES the finance team to make their decisions and provides them intelligence, but they still do a huge amount of the decision making. The decisions bookkeepers and accountants are taken are largely individual business specific, and based on the accounting principles of that business.
Frankly if the decisions are taken well and the software is good, then the tax element can become one of the easiest components where the computer CAN just get on with it, along with the tax specialists