DIY Bookkeeping can be costly

The bookkeeping profession has hit back at recent messaging by software providers perpetuating that bookkeeping is “easy to do”, warning that clients might get caught out by increasing compliance requirements.

Bookkeepers are saying they have seen recent marketing by software providers targeting clients by perpetuating that bookkeeping “can be done over a cup of coffee or on your smartphone”.

Bookkeepers are seeing clients trying to reduce fees on bookkeeping support services and often that’s coming off the back of comments by software providers that it is easy, and you can do it yourself.

 There’s a perception out there or one that is starting to build among business owners that it is actually very easy to do their own bookkeeping, and yet... we’ve got the compliance environment which is becoming far more stringent — you’re increasing the industries now covered by TPAR, you’re looking at the STP regime, and it is becoming more and more complex for businesses.

There is a real dichotomy there between the software providers saying it is easy, but the compliance drivers are saying it is actually getting more difficult.

There is a real mixed message going out there at the moment between the compliance authorities and the ATO and the Fair Work Ombudsman, and the message that is being pushed out to the client base through the software providers.

Businesses thinking it is very easy because the software providers tell them it is easy will be potentially caught out with those sort of compliance requirements.

It’s like somebody going around saying, ‘Here’s a pair of scissors; it is really easy to use, and you can now go out and cut somebody’s hair now.