I would say AI will help to a degree over time but not replace reconciling A properly to B. Which is where the real work is. The day you see a post from HMRC saying "Please don't worry about reconciling anything manually.. we are totally relaxed about the Accounts you send us and we will never impose a penalty of any kind if the software got it wrong and you relied in it..then we can all get the deck chairs out and start growing tomatoes...Until then....
This is so true. Then HMRC come swaggering in like the Sweeney and say ...got a few things slightly skewiff have we ? You must be negligent then. Lets start the bidding at 30 per cent penalty....
Again I think the above is right. I think the Accounting software was becoming fairly cheap and efficient before all the MTD and Cloud / ai - hoo hah. This is not the problem for small business owners.
I think that is right, and if it is right then I don't see how this software is going to suddenly make us all redundant as judging by what we are seeing.
Bookkeeping requires discipline and is not easy. I just wonder if there is a bit of an expectations gap here. In our experience you can quickly get into a pickle if not sure what you are doing.
Is there any possibility that this could all be put into"cold storage" as suggested by the Select Committee. Apologies if I have got that wrong, but I'm worried about getting clients all anxious and then they scrap it as they realise nobody is geared up. Don't mind one way or the other but a bit wary about the plug being pulled. Might this still be possible ? I was going to hold off until September on that basis.
Yes I agree about the nerviness bit. Even I feel nervy...
Even (relatively) simple forms such as auto enrolement opt- out if you have no Employees at all finish up with a warning ..."Really..are you sure...you might get prosecuted!! Think again. Its probably not right is it ? If you get hauled off to pokey for getting this wrong what will the neighbours think ?
Sorry about the multiple postings...digitally challenged. There if I was uploading stuff I would have probably incurred £20,000 of fines by now...Tax world a bit different than when I started and gentlemen picked up the phone...
Do we know when we will know for sure what the proposals are ? (I may be being naive - it may be when they end the "consultation sham") and tell us what is what. I gather there is a telephone service for the Digitally challenged. But I could be being naive about that too. I've tried to avoid their drive by shootings but you have to be pretty alert these days as they come thick and fast...
Do we know when we will know for sure what the proposals are ? (I may be being naive - it may be when they end the "consultation sham") and tell us what is what. I gather there is a telephone service for the Digitally challenged. But I could be being naive about that too. I've tried to avoid their drive by shootings but you have to be pretty alert these days as they come thick and fast...
My answers
I would say AI will help to a degree over time but not replace reconciling A properly to B. Which is where the real work is. The day you see a post from HMRC saying "Please don't worry about reconciling anything manually.. we are totally relaxed about the Accounts you send us and we will never impose a penalty of any kind if the software got it wrong and you relied in it..then we can all get the deck chairs out and start growing tomatoes...Until then....
This is so true. Then HMRC come swaggering in like the Sweeney and say ...got a few things slightly skewiff have we ? You must be negligent then. Lets start the bidding at 30 per cent penalty....
Again I think the above is right. I think the Accounting software was becoming fairly cheap and efficient before all the MTD and Cloud / ai - hoo hah. This is not the problem for small business owners.
I think that is right, and if it is right then I don't see how this software is going to suddenly make us all redundant as judging by what we are seeing.
Bookkeeping requires discipline and is not easy. I just wonder if there is a bit of an expectations gap here. In our experience you can quickly get into a pickle if not sure what you are doing.
Is there any possibility that this could all be put into"cold storage" as suggested by the Select Committee. Apologies if I have got that wrong, but I'm worried about getting clients all anxious and then they scrap it as they realise nobody is geared up. Don't mind one way or the other but a bit wary about the plug being pulled. Might this still be possible ? I was going to hold off until September on that basis.
Yes I agree about the nerviness bit. Even I feel nervy...
Even (relatively) simple forms such as auto enrolement opt- out if you have no Employees at all finish up with a warning ..."Really..are you sure...you might get prosecuted!! Think again. Its probably not right is it ? If you get hauled off to pokey for getting this wrong what will the neighbours think ?
Sorry about the multiple postings...digitally challenged. There if I was uploading stuff I would have probably incurred £20,000 of fines by now...Tax world a bit different than when I started and gentlemen picked up the phone...
Do we know when we will know for sure what the proposals are ? (I may be being naive - it may be when they end the "consultation sham") and tell us what is what. I gather there is a telephone service for the Digitally challenged. But I could be being naive about that too. I've tried to avoid their drive by shootings but you have to be pretty alert these days as they come thick and fast...
Do we know when we will know for sure what the proposals are ? (I may be being naive - it may be when they end the "consultation sham") and tell us what is what. I gather there is a telephone service for the Digitally challenged. But I could be being naive about that too. I've tried to avoid their drive by shootings but you have to be pretty alert these days as they come thick and fast...