Accounting Software Vs Professional Accountant in Kenya

Kariuki Maina
By Kariuki Maina 5 Min Read

Even in business, technological improvements have given us instruments to improve the convenience of our lives. Business software that automates activities like marketing and, more lately, accounting, has emerged. Many aspiring business owners wonder if they should use software to manage their taxes themselves or employ a certified public accountant. Most people decide to handle all aspect of their organization, including the financial sector. While some business owners adore accounting software, others choose to continue with the tried-and-true method of employing a certified public accountant. We will provide some insight into the ongoing discussion on whether individuals prefer using accounting software over hiring a professional accountant and vice versa.

Benefits of Hiring a Professional Accountant 

1. Human Touch

A professional accountant will be familiar with the financial history of your company, just like a personal doctor is. They can provide invaluable advise, such as tax recommendations, that accounting software simply cannot. Knowing your medical past, a doctor cannot watch your health deteriorate; similarly, a professional accountant who is aware of your financial history would not allow it to happen. You will eventually require tax counsel as you embark on your entrepreneurial adventure, and what a double expense it will be to pay for software and then still pay a tax consultant for guidance that your hired professional accountant would provide without charge. Additionally, it is common for a business owner to have inquiries regarding his or her finances, particularly those pertaining to taxes. A professional accountant on staff is on hand around-the-clock to respond to your inquiries and offer guidance on the best practices in the field. Such client assistance is not offered by accounting software. Other than automated FAQs, the program is unable to address pressing inquiries concerning your company.

2. Deals With Complicated Issues 

Investments and business operations might go awry at any time. A qualified accountant has the expertise to navigate through complicated tax situations in a way that software just cannot, all while providing you with advice and assistance.

3. Thorough 

Accounting software could be quick and error-free, but a hired professional accountant is comprehensive since they look through your financial records by hand and can bring up discrepancies that a machine would miss. By reviewing your documents, a qualified accountant may even be able to anticipate a potential tax mistake and advise you on the best course of action.

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Benefits Of Accounting Software 

1. Cheap 

It goes without saying that using accounting software is less expensive than using a professional accountant. Some services may be free, while others may need a fee, depending on the program you choose to use. Even so, the overall expense will be less than hiring a professional accountant who is paid hourly or on a monthly basis. Depending on the services you need, accounting software tax filing packages cost anywhere from Ksh. 1000 to Ksh. 12,000 every year. Depending on the volume of work, a professional accountant charges a minimum of Ksh. 10,000 for accounting services. Given this distinction, the majority of business owners choose to use accounting software programs to file their own taxes.

2. Speed

Computers are quicker than humans; this is not a falsehood. Accounting software can submit your taxes in just an hour, but a skilled, qualified accountant can need several days to complete the task. It is also highly practical, especially if you want to perform simple tasks like making straightforward deductions. Accounting software may also create automatic reports and analyses, including as forecasts and assessments of revenues and losses, that could otherwise take a trained accountant on staff some time to complete. Some business owners believe it to be superior accounting software for this reason.

3. Error-free 

Unless you manually enter each key, accounting software is often error-free, therefore you will obtain more accurate data. incorrect data or numerical values. They argue that human error is equivalent to machine precision.

Our take: 

Because of the human element, we prefer hiring a professional accountant versus using accounting software. Hired experts provide greater value with professional advise and financial ideas that a program cannot supply. They also bring human responsibility, pardon the pun. The work of an exceptional accountant cannot be surpassed by a computer. What do you think?

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By Kariuki Maina Kariuki Maina
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