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What comes to mind when you think of an accountant or bookkeeper? Some might imagine an introverted number-cruncher. For others, their experience paints a different picture: a champion of small businesses — the backbone of the economy, even.
Gone are the old stereotypes of the introverted number-cruncher.Credit: iStock
A new report from Xero reveals that 81 per cent of accountants and bookkeepers believe people think their professions are boring. This misconception exists because of a lack of understanding about the full scope of these roles, and — importantly — the impact they have on the lives of everyday Australians.
“I’ve heard people say bookkeeping is glorified data entry,” says Lisa Turner of Queensland-based firm Accounted For You. “The reality of our role is much more humanised; it’s really about building trusted relationships to keep people informed and help them make better decisions.”
Turner is part of a growing subset of progressive practice owners who are changing what it means (and feels like) to be a part of this community. In turn, they’re shifting perceptions of accounting and bookkeeping for the better.
Modelling the modern advisor
Andrew Van De Beek says he is first and foremost in the business of relationships, not transactions.
With almost one in two accountants and bookkeepers (45 per cent) believing their industry has an “image problem”, breaking stubborn tropes is as much an internal battle as it is external.
Andrew Van De Beek, of accounting firm Illumin8 explains, “There are a bunch of unique and talented people in our community and, often, that diversity gets overlooked when a stereotype is applied to us. When accountants and bookkeepers share their own stories, it helps to highlight who we truly are.
“A simple way that I find helps is to present myself as Andrew first and an accountant second. It’s not that I’m ashamed of what I do — I love it — however, people will connect more to who you are, not your job. How we communicate and care for our clients helps us deliver exceptional experiences, and this is what I want people to associate with our industry. Because we’re in the business of relationships, not transactions.”
To help shift this mindset among both new entrants and experienced industry professionals, both Van De Beek and Turner have signed on as foundation mentors for the Xero Mentor Match program, a new peer-to-peer mentoring initiative that aims to help accountants and bookkeepers connect and share knowledge.
“I’m obsessed with the potential of our industry,” says Van De Beek. “If we continue to do better than those who’ve come before us, we can do so much good. Mentor Match is an opportunity to help someone, who can pay that forward one day.”
Evolving with the needs of today’s talent
One damaging ripple effect of the perceived image problem is that fewer young people are choosing accounting as a career path, adding to the industry-wide talent shortage.
With almost two-thirds of accounting students (63 per cent) saying there’s a lack of awareness about the full scope of what accountants do, Van De Beek has implemented an “open door” policy to help break down communication barriers.
“We focus heavily on culture at Illumin8, which means something different to everyone depending on where they’re at in their careers. For the younger team members, support and guidance are really important, and to do that, you have to create a culture where people want to come to work.”
Based on Melbourne’s Mornington Peninsula, Illumin8 has a work-from-home policy — yet most of the team choose to work together in the office four or five days a week.
Lisa Turner wants her business to reflect its values from the inside out.
For Turner, flexibility in her firm is about supporting women in business — an ethos that doubles as her business motto. She explains, “Everyone in my team works part-time. Those with kids work school hours so they can do drop-off and pick-up. I offer them the same support that I provide our clients because, ultimately, I want to reflect our values from the inside out.”
Gone are the days of office cubicles and long hours instilled by legacy firms; today’s industry has evolved alongside workers’ needs, with almost one in three practices (61 per cent) offering benefits like remote or flexible working.
So, what do accountants and bookkeepers look like in today’s world? Personable, multifaceted and diverse professionals who are keeping the nation’s economic engine room in small businesses firing.
From securing the right people, to discovering what’s driving the next generation, uncover the latest industry insights with Xero’s new report, Reshaping accounting and bookkeeping: Image, talent and the way forward.