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  • Writer's pictureedenbookkeeping

Does accounting software actually "do it all for you"?

Updated: Jun 30, 2023

Today, I want to talk about the magical world of accounting software. Specifically, those pesky (said in the words of my 8 year old) adverts that claim that #accountingsoftware can do it all for you. Yeah, right! If only life was that simple.

Let's face it; most people hate doing their taxes. It can be like trying to solve a Rubik's Cube, blindfolded, with one hand tied behind your back. So, when adverts pop up promising to do all the work for you, you jump at the chance. But here's the kicker: accounting software only processes the data you input. That's right, folks; you still have to do some work.

So, if you're like most and have limited knowledge of taxes and allowable expenses, then relying on software to do your taxes is like giving a toddler a loaded gun. It's just not a good idea. Inaccurate data input will only lead to incorrect #taxreturns, which can cause you a whole heap of problems down the line. Trust me; I've seen disastrous results!

But don't just take my word for it. Let's talk about #Xero, one of the best accounting software out there. Sure, Xero is fantastic, but it's only as good as the operator. In other words, you still need to have good bookkeeping and tax knowledge to ensure accuracy. It's like giving a master chef a blunt knife; sure, they can still cook a decent meal, but it's not going to be as good as it could be.

The bottom line is this: getting your taxes right is vital. It's not just a matter of ticking a box and hoping for the best. You need to take the time to ensure that all your data is correct and that you're filling in the correct forms. And while accounting software can make the process a lot easier, it's not a miracle cure.

So, in conclusion, don't rely on technology to do everything for you. Take the time to learn about bookkeeping and taxes and ensure that you're doing everything correctly, or outsource it to an expert. And if you do decide to use accounting software, make sure you choose one of the best, like Xero. Trust me; it will make your life a lot easier.

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