Karbon Report: The State of AI in Accounting 2024

The 2024 Karbon State of AI in Accounting Report surveyed 595 accounting professionals to explore AI’s impact on the profession. The report reveals accounting professionals’ thoughts, concerns, and predictions worldwide. Key takeaways include the expectation that AI will significantly transform the industry, with enthusiasm varying by role.

It reports that owners, partners, and directors are more likely to embrace AI, while individual contributors remain sceptical. Concerns also include AI’s impact on human-client interactions, data protection, and ethical dilemmas, as well as potential changes to roles such as bookkeepers.

Transforming Accounting Efficiency – A Case Study

The integration of QuickFee into Burwood Accounting Services brought about a transformation in their operations, yielding remarkable results. The success story resonates as a testament to the value of embracing innovative payment solutions in the accounting industry.

Download the case study:

The Economic Environment FY23-24

During Covid, lenders were relaxed around credit due to the sheer volume of cash being pumped into the Australian economy by federal, state and territory governments. That has ended, and it is prudent to ensure we remain a low-risk lender. Diligence is required from any credit provider, including QuickFee, to ensure it performs as intended – loss-free and available to help small and medium businesses access credit to pay you, leveraging the strength of your firm.

Access your guide to the Economic Environment FY23-24:

Your guide to a novated lease with Flare

The Australian government recently introduced significant incentives to encourage companies and employers to buy an electric vehicle with some savings as high as $11,000. Get priority access to an electric vehicle, easy-to-implement novated leasing, potential significant tax savings and much more.

Flare’s vision is to help every working Australian live their best financial life. Through Flare Benefits and the Flare App, you can offer compelling benefits to your people – all at no cost to your business. Employees craft their benefits plan to maximise their take-home pay band save thousands across key categories of everyday spending, cars, health cover, devices, energy/ utilities, and banking. Flare provides a marketplace of pre-negotiated offers along with enabling you to customise your perks unique to your workplace.

Access your guide to a novated lease with Flare:

Good Bad Ugly: Insight Modern Technology 2021

The 2021 GBU Insight Poll on Modern Technology surveyed professionals in the accounting industry to understand their usage and attitudes towards modern technology.

The results showed that most professionals are using modern technology to improve their work processes, with cloud computing, data analytics, and workflow automation being the most commonly used technologies. However, many professionals still face barriers to adopting new technology, such as cost, security concerns, and lack of knowledge.

The poll also highlights the importance of technology in attracting and retaining clients, with clients expecting their advisors to use modern technology to deliver faster and more efficient services.

Choosing the right Practice Management Software for your firm

Looking for the right Practice Management Software (PMS) can be daunting, given the numerous options available. But with the right guidance, you’ll be able to identify the system that aligns with your firm’s needs. This comprehensive guide outlines seven steps to help you choose the suitable PMS for your practice. We cover everything you need to know, from evaluating costs and ROI to assessing security and compliance capabilities. So why wait? Download our guide today and position your firm for future success!

2022 Payment Plan User Survey

Each year, QuickFee sends a survey to the clients of our professional service firms. In September 2022, we sent this survey to over 1,400 payment plan users to better understand their thoughts on this option – and how it affects their decisions with professional service providers.

The results showed that clients are satisfied with the payment plan option and also tend to view their providers more positively when they offer them.

Key Takeaways:

  • Nearly all respondents loved having a payment plan option available to them.
  • Many also agreed that it was important for their accounting and law firms to offer payment plans.
  • Respondents are getting very concerned about the economy (and may make changes to professional service spending.)

The Australian Household Threshold Report

Powerful insights into Australians’ financial health and their challenges meeting unexpected bills

Australian households’ challenges in dealing with unexpected costs and paying out-of-pocket expenses at once is contributing to financial stress, at a time of widespread economic uncertainty.

Download the Aussie Household Threshold Report here: