Having battled valiantly against the invasion of our profession by automation and digitalisation I finally gave up and sold my Practice a few months ago; the fun had been truly sucked out of it all!
I have just been asked to help one of our local sports clubs with their Accounts and their bookkeeping and it has reminded me of why I sold out!
They had always done their books in a good old fashioned red Cathedral cash book; about 15 columns used and about 8 pages of transactions a year. They were then persuaded to come into the 21st century and use one of the major online bookkeeping systems (won't mention the software specifically but it is one of the big suppliers). Result is that they have got themselves in a right pickle with transactions being posted to all sorts of wrong accounts and codes and the bank reconciliation from downloaded bank transactions has become so chaotic that there seems no choice but to start all over again.
Although there is no VAT involved it just makes you wonder how on earth HMRC believe that MTD using commercial software reduces errors .. come off it!!
Just wondering in a reflective way what fellow accountants currently feel about these online bookkeeping systems generally after 6 - 7 years of their much wider use?
I decided early on when I started up my little Practice 8 years ago that I did not like online bookkeeping and would not let clients do their own bookkeeping because my intial experiences of clients trying to do it was terrifying. I seemed to spend more time unravelling things than I did doing clients' books in house ourselves and getting it right first time. So for me getting clients to either drop off or email me their bank statements, sales invoices, purchase and expense receipts and leave it to us was the best solution and it worked very nicely. We used VT software in house and the job for me and my small team went like clockwork.
However I realise I am probably a victim of my age and generation but intrigued to know if my actions were just those of a dinosaur or whether others shared/share my scepticism?