One of the allures of cloud accounting is that it makes keeping your accounting records more accessible. Entering payables, managing receivables, and reconciling your bank account are now effortless. It does make you wonder whether you even need an accountant or bookkeeper at all these days!
I often liken it to having a car. You can operate the car pretty well on your own. You know how to drive, how to put fuel in it, how to fix a flat – maybe even change the oil. But unless you were specially trained you wouldn’t try doing much more than that. You know that there are lots of things that you don’t know, so you pay a mechanic to do routine (and unexpected maintenance) and give you the certificates you need to keep the government happy. Sure, you could watch you-tube videos until 4 in the morning (every morning) and work out how to do most of what the mechanic does, but you would probably never do it as well as they do.