That’s what happened when a small business client set themselves up on software and let the AI and their own inexperience guide them.
Usually we set up the software and provide training videos but this client slipped through and decided to do their own thing. Fortunately, before we start the year end work, we run a few bookkeeping healthchecks and full balance sheet reconciliations to pick up any major discrepancies. If the client had submitted their own tax return the company would have underpaid nearly £3k of tax. (Unfortunately all the corrections increased their tax bill, but at least they will withstand a tax investigation so the client can sleep at night.)
A timely reminder that AI can help accountants, but can’t replace our professional judgement (yet!)
As a bonus, with the time that we save using technology in our business we are able to advise clients on how to grow their businesses. Clients on full business advice packages get the best value but even our no-frills clients receive general advice and reactive telephone/email support.
How are you using technology in your business? Reducing costs or providing more value for the same fee?
If you’d like to discuss our business growth packages just drop me a message.