The Future of Bookkeeping and Why It Will Continue to Survive and Thrive
Bookkeeping, just like any other profession, has come a long way. From manual records to all the fancy AI software available nowadays, how will bookkeepers keep up? Is the digital era really a threat to the bookkeeping space or is it an opportunity? Our guest, Matthew Addison from the Institute of Certified Bookkeepers will give us the answer to all these questions.
Join us as Matthew shares why he chose to be a bookkeeping advocate and its importance to the accounting industry. Some more of the topics we discussed include:
- Being a partner in his own accounting/bookkeeping firm whilst being an advocate for the bookkeeping industry
- The ideal accounting and bookkeeping model
- Classic bookkeeping vs modern bookkeeping
- Bookkeeping practice and regulation and the differences with other countries
- Digital bookkeeping and automation and the impact its had on the industry and clients
- Why bookkeeping survived and thrived amidst the rise of automation software
- Biggest threats and opportunities for bookkeeper
- Thoughts on offshoring in the space
“A practical challenge in the bookkeeping space at the moment is narrowing your scope- Becoming an expert in a few, not trying to be an expert in everything available to you.”
Show Notes
Matthew Addison started his accounting journey in a Big 4 firm which he deems as his ‘breeding ground’ but later on chose to be a passionate advocate for the bookkeeping space back in 1990. He’s an all around expert in the industry with years of experience in accounting, tax, payroll, business advisory and software accounting solutions. He aims to bring modern solutions to modern problems and let people know that bookkeeping is here to stay and that Bookkeeping is not a pathway to becoming an accountant, Bookkeeping is a profession of its own.
Quick facts:
- The chair and co-founder of the Institute of Certified Bookkeepers in Australia, a professional association for Bookkeepers
- Has been recently appointed as a Director of COSBOA (Council of Small Business Organisations Australia)
- Involved in the development of: Business Accounting Software, Software Company Partner Programs and the Tax Agent Services Act 2009 (recognition of Bookkeepers as Registered BAS Agents).
- Co-Chair of the ATO Tax Practitioner Stewardship Group (2018-2021), member of the ATO BAS Agents Advisory Group and the Tax Practitioners Board (TPB) Consultative Forum.
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Contact Info
You can find out more about Matthew Addison and his organisation Institute of Certified Bookkeeper from their website: https://www.icb.org.au/s/
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