Job Security As A Bookkeeper In The 21st Century

Job security is definitely something that is an issue in this day and age.  Between the wild swings in the economy, the current supply chain issues, inflation, conflicts with other countries, and Covid… one or all of these combined can become a major issue and at this point, you are probably very aware of that fact.

So, you have 2 options.  One, do nothing and hope for the best or, look to take advantage of an opportunity to start a business of your own and give yourself the peace of mind that you wouldn’t be affected by any of those things listed above.

The other part about job security that is important to talk about is what happens AFTER you become a bookkeeper.  How secure is your bookkeeping business actually going to be?   If you have been doing any research at all there is a good chance that you have run into some naysayers saying that bookkeeping is dead because of the advancements in technology.

If you are debating on whether to join the Bookkeeper Launch community because you are concerned about whether technology will end up taking over in the near future, then you are going to want to check out this article.

Job Security As A Bookkeeper In The 21st Century

With advancements in technology and artificial intelligence (AI), wondering if real human bookkeepers will still be relevant down the road is a legitimate concern.

If you have been searching online about bookkeeping, it’s possible that all of a sudden you start getting advertisements on your Facebook feed focusing on different bookkeeping products that claim to use AI to do the bookkeeping tasks.

Don’t ask me how this happens because I haven’t the slightest idea.

Anyways, you may have run into certain products that claim to be able to do bookkeeping tasks through artificial intelligence at a much cheaper rate.

I don’t have any personal experience with these new programs so I am not going to bash them. What I can tell you with complete confidence is what they CAN NOT do.

Let’s break down why you, as a Bookkeeper Launch student, will always have the upper hand against any sort of AI in its present form.

The Bookkeeping Hierarchy

To better explain this, think of what you will be doing as a bookkeeper on 5 different levels:

Level 1 – Data Entry:

This is what bookkeeping was in the traditional sense. Simply logging all the financial information into ledgers and such. At this level, although it is important to have a firm understanding of how this is done, this day and age, most of this process is fully automated.

Your software basically does all of this for you, which is a good thing since, as a Bookkeeper Launch student, this is not where you provide the value to your clients.

Level 2 – Financial Statements:

After the data entry is complete, you are going to use that information to create financial statements. There are 3 different statements that you will become very familiar with by going through the course.

The balance sheet, income statement, and statement of cash flows are something that years ago bookkeepers didn’t do. These were left for accountants but these days, bookkeepers are responsible for creating these.

At this level, AI will soon take this over as well, and this is also good news since this is also not where you are going to provide value to your clients.

Level 3 – Interpretation:
If you can imagine a hierarchy cone, imagine a line between the 2nd and 3rd levels (between financial statements and interpretation). This is where AI stops and where you and your amazing bookkeeping skills take over.

This step is simply explaining to your clients the data entry and financial statements in a way that they understand. This step is critical!

Simply listening and encouraging, being a shoulder to cry on or even a cheerleader, this is part of the interpretation process as well and is where you begin providing true value as a bookkeeper.

You must also understand that every client is unique. This means that how you interpret data entry and financial statements to them is based on their personalities and what they understand.

Unless you are a Bookkeeper Launch student, most bookkeepers and accountants do not do this. This is where you begin to separate yourself from the pack, by doing what most other bookkeepers will not!

Even if AI eventually does eventually evolve into this 3rd level, do you think your clients are going to prefer talking to a robot or a real human being? I know if I were a business owner, there is no question that I would prefer a real human bookkeeper.

Level 4 – Advising:

This requires you to give your clients sound financial advice. You need to understand that you’re not just helping their business, but helping their lives. With your advice, you will be able to help your clients through the tough times.

You must be very proactive. There is a heavy focus on exactly how to do this inside the Bookkeeper Launch course.

Level 5 – Most Trusted Adviser:

To get to this 5th level you must do the first 4 levels, and do them well! The difference between an adviser and the most trusted adviser is simple.

As an adviser, you are calling your clients and telling them what they need to do. As a most trusted adviser, your clients are calling you asking what to do. See the difference there?

When your clients begin calling you asking about other things such as insurance or human resource questions, or anything outside the realm of bookkeeping, this is when you know that you have become their most trusted adviser.

Obviously, this doesn’t happen overnight but should be your ultimate goal with every single client you have!  Also, when you are able to accomplish this, referrals will begin coming in without you having to work to get them further growing your bookkeeping business.

This Is What Bookkeeping Is Truly All About!

Your goal is to focus on these top three levels. Interpretation, advising, and being your client’s most trusted adviser is what is going to separate you from almost every other bookkeeper out there and is what Bookkeeper Launch is truly all about.

It just so happens that, at these top levels, artificial intelligence cannot do these in its current state. This is how you maintain clients for the next 20 years. This is how you will grow your business by word of mouth.

When all is said and done, I can’t imagine a situation where a client will choose a robot over a real human to be their most trusted adviser.

The first two levels, data entry, and financial statements are just as important but these are what make up your foundation. It is the top three levels that you want to eventually end up putting your focus on. Simply put, do the things that most other bookkeepers will not do and you will have yourself a thriving bookkeeping business.

Bookkeeper Launch Takes The Cake

Hopefully, this article helps to calm some concerns you may have when it comes to starting your own bookkeeping business. It may even be possible that this is the first time that you have run into this course.

In a nutshell, you just read why Bookkeeper Launch is the best bookkeeping program out there. While learning what bookkeeping is and how to do it is important, it is learning how to be the BEST bookkeeper possible that is going to give you an edge over almost any other bookkeeper out there.

Your next step is to check out all the juicy details of the Bookkeeper Launch program to get an in-depth look as to what you are going to get on the inside by checking out my full review of Bookkeeper Launch.

My suggestion is to sign up for the free training videos on the review page to get an in-depth breakdown of what running your own bookkeeping business is all about but you will learn more about those on the next page.

After that, you should have a pretty good idea if your own bookkeeping business is the right move for you.

So check out my full review of Bookkeeper Launch and I wish you all the best in whatever choice you make.

If you have questions feel free to drop them below in the comments and I will be sure to get back to you ASAP!

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10 thoughts on “Job Security As A Bookkeeper In The 21st Century”

  1. Wow. As a bookkeeper of 25 years, I had no idea that my job was at risk of being taken over by AI. This is very worrying… I am glad I decided to do a search on updating my skills. Thankyou!

    1. The good news is that AI can be a good thing for a bookkeeper as well. The fact that artificial intelligence is able to do the first 2 levels is actually a good thing! This allows you more time to focus on what is really important, and that is those top 3 levels. As long as you put your focus there you will be just fine.

  2. Hi Nathan
    Your post is very interesting. Your suggestions are very good. I agree with you that interpreting the data is as important as producing the financial statements.

    1. Yes Priya, it is the interpretation that is going to provide you with a thriving bookkeeping business, that’s for sure! I am glad you enjoyed reading it! Thanks for dropping by.

  3. Some good information in this post Nathan, it will definitely help intending bookkeepers to focus on the areas where they can add value to their clients. Digital disruption will continue to happen across various professions so it’s good to be able to figure out how to stay relevant.

    1. Thanks Soga. Your right, there are going to be challenges in nay profession as far as staying relevant is concerned. You simply have to focus on the things that AI cannot do. In the case, ironically, it’s simply being a human.

  4. Hi Nathan

    Maybe one day the robots will run the world, but that will still take a very long time. 🙂
    I completely agree with you that there are things robots cannot do like interacting with clients like real humans. That is in fact very good news. I want my trusted adviser to be a person who I can talk to and definitely not a robot.
    Thanks for your reassurance.

    1. Thanks for stopping by Nicolaas!  I am glad you enjoyed this article.  AI can continue to do the actual bookkeeping which is fine since that only will make a bookkeepers job easier since this will leave more time for them to focus on the things that really matter, that being building relationships with your clients and working your way up to becoming their most trusted adviser.

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