Software Engineer/Accountant - new business?

I am seeking realistic feedback on a business idea from the boffins on here

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I have worked in practise for over 10 years, finished ACCA, currently working through CTA and one thing I have noticed over the years is how the industry has changed.
 

Xero was still pretty new back when I was a junior and MTD a distant thought and I can see how Accountancy is changing to essentially put the onus on technology to take up all of the leg work.

As someone who loves client interaction and delving more into the consultancy side of things I do love the advancements that have been made, but I still feel that there is a lot of work we do that is essentially glorified data entry.

e.g. we receive a trial balance (if lucky) from a client, carry out basic checks, put through simple journals such as depreciation, splitting out loans over years etc. and send the client a bill for our services - I can appreciate how some clients may not see the value in this.

Over the years I have seen where accountants need to try and find ways to add value for their clients, through their service offering and consultancy work, but with us still being bogged down with filling out working papers and carrying out this basic data entry we can sometimes fall short on really providing the things that add true value from a clients perspective.

My partner has worked in software engineering for a number of years and I have been toying with the idea of essentially trying to create an 'automated accountant' which will carry out basic tasks, such as taking a trial balance from Xero and populating a set of working papers, using the output from a series of questions to make adjustments to the figures and essentially throwing out a pack that just requires a review, with little of the manual leg work involved, so that time can be spent on the 'added value' service to the clients.

I don't know if this is just a pipe dream or I am essentially making our profession redundant in the long run, but with the way our industry is moving it has been a thought on my mind for some time.

accountingweb has been a great asset to me over the years and there are a large number of highly skilled people here who I respect greatly and would appreciate any feedback - whether the good, the bad or the ugly! 
 

 

Replies (34)

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By ireallyshouldknowthisbut
30th Mar 2022 12:38

This is essentially what Xero are trying to do, and many of the big "churn the data" type quasi accountants do (they call themselves accountants but they are data processers in my book) but where you and they fall down is the "series of questions". The list would need to be many thousands long most of which being "N/A".

If you try and deskill and dumb down your output is poor. By not going through the detail you don't learn what is right/wrong. You simply cant beat a well trained human brain for spotting issues clients didn't know they had and being plastic enough to change when the rules change.

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Replying to ireallyshouldknowthisbut:
paddle steamer
By DJKL
30th Mar 2022 12:38

Something maybe using AI may get there eventually but is unlikely to hand you a coffee.

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Replying to ireallyshouldknowthisbut:
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By SpringChicken
30th Mar 2022 12:52

100% agree - the series of relevant questions would be picked up by the software from the clients TB - e.g. it recognises a balance within rental and it prompts the question of ‘is this a hire purchase or lease’ because we all know clients just whack balances wherever and wouldn’t differentiate between the two - at the end of the questions a list of documents required is generated that will be needed for completion of the working papers, at which point it’s just down to the client to upload the backing requested.

The human part then carries out a review as normal on what should be essentially a set of working papers that have been completed to a junior level (maybe more details depending on how we can get the software operating).

The idea is that the monkey work is carried out by AI leaving time for the technical consultancy work to be done by the human, with the software able to be updated with any new parameters depending on changes in accounting policies and tax rates.

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Replying to SpringChicken:
By ireallyshouldknowthisbut
30th Mar 2022 13:32

Fundamentally your AI is no substitute for scanning through the GL by eye at the sub 2k transaction level to find out what mad stuff the client has done. Large business are different, but anything when you can just take a good look at the data at the small end will pick up a large amount of detail. If you skip this step you simply wont find stuff. This may be a good thing if you are just churning account low quality stuff, but its a bad thing if you are a proper accountant. The issues you get day to day are more along the lines of miscoding eg B/s and P&L. For example today a client has coded dividend income from an investment........under the investment account in the balance sheet account. Logical, but wrong. Humans can find that, AI will really struggle. The more you hard code checklists and the like, the less likely anyone reviewing will stay awake. Its why accounts checklists auditors use are next to useless when handed to a junior, but the experienced manager will find things that ought to be disclosed without bothering with the 1001 ticks.

Anyway, good luck with that as they say.

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Replying to ireallyshouldknowthisbut:
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By Mr_awol
31st Mar 2022 10:59

Ireally is spot on - and i particularly like the description of data-churning quasi-accountants which is what Xero (and others) are encouraging us all to be.

I also think that, through no fault of their own, the OP has probably fallen into this mindset because they have been training in a gold/silver/bronze monthly subscription charging, data integrating, practice that exclusively uses online working papers (which tend not to be reviewed properly if at all by this type of firm) and calls themselves 'progressive' but cant even put a quote together without overpriced software putting together a 'proposal' for them. Of course, the OP may prove me wrong but the over-simplification of the role in the OP suggests not. There is a whole generation of quasi-accountants trained that way and with it becoming easier and easier to set up from home it will be interesting to see what happens in the next ten years.

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A Putey FACA
By Arthur Putey
30th Mar 2022 14:14

Come up with a cloud accounting platform that has all the clever features for clients to use and helps them code things right, plus all the things the accountant needs, with a market focus solely on UK accountants, at a cost that is significantly less than Xero etc., and that will do nicely.

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Replying to Arthur Putey:
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By SpringChicken
30th Mar 2022 18:59

Check out Pebble, significantly cheaper than Xero (free for clients, think around £5 for accountants?) and will do most of the basic stuff you need - it’s a great piece of kit for the price.

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Replying to SpringChicken:
A Putey FACA
By Arthur Putey
31st Mar 2022 10:24

Thanks, but all I can find is a schools platform. Can you share the url? Does it have final accounts and tax? The point I'm making is there isn't a one stop shop for UK accountants. Suggestions have been made on here that something could be crowdfunded by accountants for mutual benefit. Most clients don't care what platform they are on.

Quickfile also gets mentioned for the basic stuff, it looks good but the free version serves up ads for other accountants!

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Replying to Arthur Putey:
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By DKB-Sheffield
31st Mar 2022 17:17

Arthur Putey wrote:

Quickfile also gets mentioned for the basic stuff, it looks good but the free version serves up ads for other accountants!

When you say free, you mean free for the client. The accountant is charged to use Affinity. So, the accountant actually pays Quickfile to advertise other accountants (charging c.£100 for accounts + CT)! I refused to use/ left QuickFile years ago for that very reason (that, and paying twice for non-small clients!).

I also refuse to use any software where the client pays nothing but the accountant is charged for access. Without the accountant, their software is often useless. Yet, it's impossible to explain to a client that their fees have to increase (by £60+) because of free software!

If a client is going to use software, there is nearly always a fee for that software (somewhere down the line). If I choose to pay a client's subscription - that is my choice (and is added value for the client). If a client uses free software that is then funded by the accountant - it is the accountant who is forced to take the financial hit!

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Replying to SpringChicken:
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By Brend201
31st Mar 2022 18:14

SpringChicken wrote:

Check out Pebble, significantly cheaper than Xero (free for clients, think around £5 for accountants?) and will do most of the basic stuff you need - it’s a great piece of kit for the price.

I suspect that you are thinking of Pandle.

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By creamdelacream
31st Mar 2022 19:56

If so Pandle is half price for accountants so doesn't sound right

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By I'msorryIhaven'taclue
01st Apr 2022 07:34

So far as I can discern Pandle is owned / controlled and operated by a firm of online accountants The Accountancy partnership* www.theaccountancy.co.uk who last time I looked sold their monthly accounts prep services from £39.50 monthly. It's also recommended by and operated by www.cheaperaccountants.co.uk although I haven't worked out whether there's a connection because the latter practice appears to have run out of steam and stopped trading during the pandemic.

Anyway, the heads-up is that there are obvious dangers in directing your clients towards the software of what amounts to a cut-price competitor.

*At the foot of their website home page is their trading name the accountancy partnership and their company number 07083629. Search that number at Cos House and you'll find Pandle Limited. They certainly hide their light under a bushel.

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By Southwestbeancounter
30th Mar 2022 16:05

I like the bit where you say you receive a trial balance from a client - I could count on one hand where that happens with any of our clients and they are definitely the larger ones on Sage etc - but we manage just fine with the rest of them!

The ones that are now watching the ads on TV are the ones where our fees are probably going to triple if they ever get software like Xero and QuickBooks as they will simply make a hash of it as have most of our clients who used that software!

The adverts make it look so easy but with no understanding of accountancy whatsoever most are sadly doomed to fail as soon as they get to anything like understanding the purchase ledger etc.

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Replying to Southwestbeancounter:
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By SpringChicken
30th Mar 2022 19:06

Very true!

Back to the drawing board - on the same sort of line of thinking of automating some of our work, and I know there’s already some software out there that is similar (my workpapers), what about software for working papers.

Most accountants I know use excel documents for their WP, but if this were to be cloud based where the WP auto-populate based on your TB import and every adjustment you made to the WPs are reflected to a final ‘import’ trial balance (for importing into CCH/IRIS/Tax Filer as needed) and an auto calculated ‘closing balance’ journal based on the adjustments made in the WP for posting into the clients software.

This being aimed at accountancy firms that predominately have clients that use accounting software - obviously any paper bag jobs won’t have a TB to work from, but if I’m honest I rarely get them nowadays.

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John Toon
By John Toon
31st Mar 2022 10:06

Sounds like you're trying to reinvent a wheel that already exists here. Maybe some better research of the software market would be a better use of time and resources

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Replying to johnt27:
A Putey FACA
By Arthur Putey
31st Mar 2022 10:33

Maybe they are looking at the wrong wheel, or only part of it. I think the questions to the OP is "what problem are you trying to solve?" and "where do you think the market is?". They seem to be thinking about the back end of a process when most of the issues are in the front end, and its integtration with the back end. No pantomime horse jokes please!

A big issue (apart from cost) is that the cloud comnpanies that advertise on TV at the moment (much to my annoyance when trying to watch TV!) are aiming at the small business user not the accountancy profession. And those that aim at the profession don't offer comparable front end functionality.

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Replying to Arthur Putey:
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By SpringChicken
31st Mar 2022 13:00

Thanks so much for your feedback Arthur, it has proven very helpful and constructive!

I’m not trying to reinvent the wheel so to speak, I think there’s already numerous ‘wheels’ on the market, but getting them to all talk to eachother to make things easier for the accountant is where it falls down and requires a lot of admin time.

I’m very much a ‘techie’ person, which probably doesn’t mesh well with the older traditional accountants, but I do think a great balance can be sought if the right software is invented that actually has accountants in mind.

I was using AccountingWeb as a type of sounding board as it’s one of the places I know accountants flock to and it’s been really helpful.

Thanks everyone - I know I have a lot
of research to do still but it’s difficult finding a room full of accountants who will be upfront with their thoughts!

I find the anonymity of a site such as this gives people a bit more room to be blunt and honest.

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Replying to SpringChicken:
A Putey FACA
By Arthur Putey
31st Mar 2022 14:07

Ah so you are talking about integration! There are lots of cloud integration tools around, so that wheel exists, the bit that is missing in my humble opinion is the exchange of data about invoices. In the old mainframe days there was EDI, which relied on a "backbone" to act as the intermediary. The ERP vendors signed up to it. What seems to be missing in the cloud world is ability to acquire data from 3rd party organisations, its all very well emailing an invoice into Xero but there is still a fair bit of manual effort. If for example is supplier's Xero could send an invoice to a cloud backbone from where it can be passed on to customer's Sage that would mean all the required data would be imported along with a pdf of the invoice, virtually eliminating data entry. Xero tried this with Xero to Xero networking but that (like many other Xero functions alas) remains an incomplete design.

Whether such a backbone would be commercially viable is another matter, and I wonder if Dext or any of the receipt processing platforms have pondered this?

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Replying to Arthur Putey:
John Toon
By John Toon
31st Mar 2022 14:45

EDI still exists but many small businesses don't see it as it's usually utilised by larger organisations. The result being that for any small business interacting with EDI they will usually be in a supply chain with a big player and a bespoke integration is required for their software.

With e-invoicing starting to creep in around the world this is what most of the cloud players are waiting for rather than building for old school data exchange like EDI. This is also the reason for Dext and others to start looking at expanding their portfolios of products as their OCR products will become obsolete at some point in the future.

The irony with e-invoicing is that the tech being adopted around the world is based on an EU standard for data exchange so the likelihood is that BoJo and Rees Mogg will probably shy away from this as it definitely doesn't feel like a Brexit dividend making doing business more efficiently with something the EU came up with...

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Replying to johnt27:
A Putey FACA
By Arthur Putey
31st Mar 2022 15:24

Are the main cloud vendors going to adopt e-invoicing or will they work with 3rd parties? How will the vendors' APIs cope with authorisation, integration keys etc?

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Replying to Arthur Putey:
John Toon
By John Toon
31st Mar 2022 16:59

Xero acquired an e-invoicing app last year (possibly year before) to facilitate the roll out of e-invoicing that is currently happening in NZ/AU - all government departments are incentivising adoption by paying more quickly if invoices are received digitally with it moving to a mandated requirement in the future.

Italy have legislated for similar changes with roll out expected this year and quite a few countries are following suit

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By DKB-Sheffield
31st Mar 2022 18:39

E-invoicing sounds like it could be a new thread in the making? Although I'm sure it's been done before?!

Currently, I'm amazed that when I invoice a client using QBO - from QBO - using a standard QBO template, the invoice has to be uploaded to the client's QBO (manually or emailed), the client's QBO does not recognise the majority of the pertinent info (manual input required) and then, in order to allocate line items, the posted invoice (Bill) has to be edited (manually). The other option is to use line item extraction from Dext HubDoc or AE - at cost.

If QBO cannot integrate with QBO at this stage...?! I'm sure this is only a downside of QBO (being from the US) and I am certain Xero/ Sage/ Pandle/ FreeAgent etc. may handle it better but, moving the client (and me) to a new package because of an annual invoice is not going to happen.

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By mariannajane
01st Apr 2022 00:06

Intuit is rolling out the integration between QBO users in the US right now (called the "Intuit Business Network", in beta). An invoice one user creates shows up as a bill to be approved and categorised in the account of another user. Presumably, we will see it in the UK sometime soon, unless the privacy law prevents it.

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Replying to SpringChicken:
By ireallyshouldknowthisbut
31st Mar 2022 14:27

SpringChicken wrote:
<

I’m very much a ‘techie’ person, which probably doesn’t mesh well with the older traditional accountants, but I do think a great balance can be sought if the right software is invented that actually has accountants in mind.

<

FYI I am under 50 and if I hadn't been an accountant I would have been a computer nerd of some description. I used to program in my teens. My comments are not anti-tech, but are borne of practical experience. Observing different personalities I find "computer nerds" seem to boil everything down to logic and data, forgetting that many very able people don't think like that, and indeed the human brain mostly runs on autopilot computing thousands of things subconsciously so even if you asked me "why did you spot that?" I couldn't tell you the thousands of things my brain was considering as that is all running in the background. Your trying to map all of that experience is incredibly hard.
This is why when making that tech call to your mum or other other relative you struggle to explain how to print a document when it fails, but if it was your computer it was easy to fix.

The same happens with medical issues which are of course much more serious, but the same issues apply when trying to replace a GP with a robot. Millions have been poured into doing it, and all you end up with is a poor and potentially dangerous diagnosis. Its not anti-tech but it remind me of the 'house robots' of the 1950's, sure you can build a model to do certain things but a human is infinitely more useful. We seem to be at the same place with tech right now, oodles of it, most of it pointless.

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A Putey FACA
By Arthur Putey
31st Mar 2022 15:21

On balance, I'd rather have a robot shove its finger up my ..........

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By I'msorryIhaven'taclue
07th Apr 2022 14:59

Arthur Putey wrote:

On balance, I'd rather have a robot shove its finger up my ..........

Danger, Will Robinson!

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Replying to ireallyshouldknowthisbut:
John Toon
By John Toon
31st Mar 2022 17:14

ireallyshouldknowthisbut wrote:

The same happens with medical issues which are of course much more serious, but the same issues apply when trying to replace a GP with a robot. Millions have been poured into doing it, and all you end up with is a poor and potentially dangerous diagnosis. Its not anti-tech but it remind me of the 'house robots' of the 1950's, sure you can build a model to do certain things but a human is infinitely more useful. We seem to be at the same place with tech right now, oodles of it, most of it pointless.

Except, of course, the adoption of machine learning and AI when reviewing the results of routine and non-routine scans for possible cancer diagnoses is now more accurate, and more likely to identify cancers at an earlier stage, than the human experts who used to do these reviews.

It took the NHS and the respective technology providers over 5 years to get to that point (and the reality being that timescale was likely much longer). But, if you're a woman going for regular breast screening, for example, your result will be delivered by a doctor but the determination of that result since 2020 has been done by a robot. So to presume that tech delivers poor or dangerous diagnoses is simply not true.

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Replying to johnt27:
By ireallyshouldknowthisbut
31st Mar 2022 17:35

@johnt, I dont doubt they have got software for getting a better diagnosis for one specific analysis when the patient is already with that specialist.

The issue isn't that, I am talking about GP's who are dealing with an almost infinite number of ailments. This is the closest analogy to accountants in practice. I reckon you could code everything you need to know within narrow confines on limited areas, so say a simple consultant business. What is incredible hard to do is make that work universally, and crucially keep it up to date.

Anyhow what do I know, its just what I do for a living with probably 50,000 hours of practical experience working with small businesses at the sharp end. You sound just like the MTD software people, all the technology knowledge, none of the understanding of what accountants actually do at this level. Which is why after 7 years they have a rubbish system which doesn't do anything useful and is years from launch.

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Replying to ireallyshouldknowthisbut:
John Toon
By John Toon
31st Mar 2022 18:29

I don't disagree with your GP/accountant analogy I'm just not sure what your point is anymore? If you do have the misfortune to have to visit your GP keep an eye on their monitor and check they don't jump on Google - they'll tilt it away if they do :)

Any piece of machine learning can be taught to understand not just a potentially gated process - yes/no etc but also the nuanced interplay of seemingly random information.

Just as a GP or an accountant might Google something to narrow down the possibilities or to research possible solutions. What the bots can't do is listen well, be empathetic, or propose a solution with critical analysis, but I do use the tech to short cut the mind numbing jobs that our roles often entail, like your example of trawling nominals, and I never feel threatened by it.

You might not think I understand what accountants actually do but my clients certainly seem to appreciate my knowledge and expertise, of which tech is just a small part, and that's all that really matters.

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By DKB-Sheffield
31st Mar 2022 18:19

Hi,

I have read your proposal with an equal amount of interest and scepticism and on balance would be somewhat against the idea.

Firstly, with regards to your proposed automation, I am sure I am not alone in agreeing that a degree of automation is good. Anything that can reduce laborious admin tasks and free up time - not just for "advisory" work, but for detailed review - is welcome to us all. Automation of data entry, headline review, and I'd even go as far as to say preparation of some of the generic queries ("Please provide copies of L&P invoices", "Please provide final loan accounts" etc.), would be welcome. However, I doubt there are many practices who still rely - solely - on manual input of figures and painstaking review of paper-based transactions. I'd also mention that, with automation comes risk - not just the failure of software to accurately identify errors/ variances - but, also the risk of trying to fit processes around software - not the other way round.

There are many products on the market that attempt to do what you are proposing. I have oft thought "how wonderful it would be to have everything working as one". I have also considered various products that purport to have a seemless link between client input and final accounts. In practice, and from my personal view, to implement such systems, would mean a significant dumbing down of my processes and procedures.

A classic example is in relation to Working Papers. I run Excel-based WPs and have a standard template set up for each type of client (Ltd, S/T, Partnership, LLP, Property Income etc. - and a few 'specialist versions' for different trades and structures). Each template has the normal review items (Tax, Fixed Assets, Stock etc.) with numerous subsheets for each (probably similar in format to most). Each client starts with from a proforma BUT, that is where the rigidity of the "structure" stops. Clients with 25 bank accounts, clients with 5 construction project, client with 10 loans, LLPS with 3 or 4 partners... they are all different and require different review - and schedules. By adding too much 'structure', I'd lose flexibility and the integrity of the WPs may be lost.

I'll admit, 'writing up' the WPs is time consuming and seems to add little value. Would I swap this for a fully automated product - probably not! The simple process of entering items into the WPs, of independently balancing nominals (away from the accounting software), and of simply seeing the figures as I type, reveals far more than a review of the headline numbers could. If the automated process says the VAT liability is in balance - who am I to say otherwise? It is, afterall, just another number is a sea of 'balanced' numbers. However, when I actually enter the figures, when I actually think about it, and when I actually question it, I can see quite clearly, there has been an effort to 'balance things up'. How many of my clients actually has a fully balanced VAT account?

Notwithstanding the above, my main concern with your proposal is that you are actually creating a solution for the "glorified data entry" companies. Having a solution that will automate the process from TB (good luck getting one of those by the way) to draft accounts will legitimise those same companies doing even less. They already do limited review - if any - and now, if they have the "computer says YES" answer from the 'automated accountant', their compliance work is done. You'll find some of these don't really care about the accuracy of the client's accounts/ tax returns because they have that many caveats (starting with something along the lines of 'the client is solely responsible for the accuracy of all information entered into the software') that they are pretty much absolved of all liability & responsibility.

Finally, there is one other concern- particularly for the small client. You have mentioned that you may receive a TB from a client and that the system requests the client upload what is needed (12:52 post). That's great but, I rarely get (or indeed ask for) a TB - even if I did, I'd not take much notice of it! As for the automated questions, the system may churn out a list of questions but, getting the client to act on ALL of them, is another thing. By far the most time consuming part of preparation and review of accounts is getting the infomation in! Ask a client 10 questions, they'll answer 5. Ask for 13/14 months of bank statements, they'll send 8 (or for the wrong year!). Ask a client to explain a transaction they made 2 months ago - they haven't a clue what it was for, or who they paid. My concern with the system creating questions is that, to cover every eventuality, those questions would be numerous, may not be required (I can often 'answer' things without asking the client), and will likely lead to lower quality responses from the client. In other words, if I ask 10 questions, the 'computer' may ask 30, I'd still only get answers to 5 (maybe 10 at a push?), but those answers would likely be to the questions I wouldn't have asked in the first place!

In summary - potentially a market out there, potentially for the 'larger client' base, but at this stage, this is not for me.

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Replying to DKB-Sheffield:
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By SpringChicken
01st Apr 2022 08:29

Hi DKB,

Thank you for your reply!

I think one thing this post has highlighted isn’t so much an issue with automation but more integration.

Something that Arthur brought up really resonated with me and that is there is no communication between the front end and the back end.

In our firm we have clients on Xero/QB/Sage we then produce working papers in excel, upload the TB into CCH and then have to go back to the original Xero/QB/Sage to post the closing journals. Each software is trying to develop integration e.g. CCH has a connection to Xero, but I am still paying for 3 bits of software and wasting time transferring data from one to the other - which is costly.

I’m currently thinking about the feasibility and demand for a system that has everything in one place - it’s just whether we could produce a decent enough bit of kit that would entice people to switch over.

We can produce a model to show to investors, but implementing all of the features to the point it will be a fully working product will be a serious undertaking and require a software developer (along others) working on it full time - so we shall see!

I have this weekend set aside to carry out more research so will refer back.

Thanks!

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By I'msorryIhaven'taclue
01st Apr 2022 08:30

I've developed my own Excel sheets in similar fashion to you... control accounts, working papers, wages / FA / VAT summaries and schedules, an ETB that serves as a hub for it all, final accounts and taxation calcs. All integrated so that it auto-populates (and the trick for that is to colour code the cell texts / figures so that for example black for basic cells and blue is an input cell; and lilac a dependency black and blue; and green a more complicated dependency involving lilac. Oh, and red's a flag to say fix this sh*t).

The OP, Spring Chicken, is I believe on the right track with automating accountants' working papers. Everything up to that point (of TB) has been done to death, albeit rather badly, by the QBOs and XEROs. At its most basic level you can use Excel's concatenate function to auto-populate repetitive fields such as company name / accounts dates / single or multi directors or shareholders (rather like mail-merge in the old word processing software) from a dashboard page. Then, up a level, format your ETB so that control accounts and similar auto-populate from opening columns input and vice-versa for intermediate ETB columns. For control account adjustments, conditional if statements facilitate auto-posting to the ETB (eg input a "1" to automatically generate the ETB entries to write back to purchases, "2" to post to DLA, and so on). Finally, you can route all the checksums to a dashboard page (eg if BS / ETB columns / control account totals in working papers and in ETB columns match then display "OK"; and if not display "error").

Having auto-populated opening ETB / comparative accounts columns I still hand type at the two bottleneck points: at initial input, from client's TB to my Excel working papers; and at final output, from my Excel accounts to VT's IXBRL accounts generator. You need that, as others have indicated, to check for sensibility and to serve as a check for anything that smells wrong. And it's where something major could go wrong if auto-populating. (Oh, and an ETB column for reviewer journals.)

Is that what you had in mind, Spring Chicken? Accounts prep with semi-automated working papers.

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By JD
04th Apr 2022 17:34

You could start with an excel add-in to enable excel to connect to bank feeds.

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By I'msorryIhaven'taclue
04th Apr 2022 18:06

Bank feeds are so pants... feeds from the major UK banks appear prone to either duplicating themselves or not downloading at all. Which rather defeats the object of the exercise. Oddly, the Monzo bank accounts and other such online "banks" where the nearest pop-in branch is many thousands of miles away in Bombay seem to work a little better by downloading just once, and once only. Well, in a combo with Xero that is.. I haven't yet come across a Monzo (or similar) and QBO combo.

Sage and the UK banks' feeds seem prone to duplication / error / omission. Just saying.

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