4 Accounting Trends We’ll See in 2020

March 1st, 2020
4 Accounting Trends We’ll See in 2020

New year, new decade, new set of accounting trends

Not only is it a new year, but it’s also a new decade. Seeing how technology and business have advanced over the past decade, we expect even more for the next one.

These advancements are leading to some new trends shaping up in the accounting world, too. We’ve listed out the top 4 accounting trends of 2020, all of which are already positively impacting the RBK team.

Top 4 accounting trends shaping 2020

1. Cloud-based accounting

While not an entirely new idea, we know that cloud-based accounting is going to gain more traction during the year 2020.

Having your accounting in the cloud means that you can access it online at any time (so long as you have an internet connection). As the year and the decade progresses, cloud-based accounting technology will continue to improve and become more accessible to the everyday business owner.

Because RBK already works in the cloud, we can make your business’ transition over to cloud-based accounting a smooth and stress-free one.

2. Social media takes the reigns

Social media is the new powerhouse of the internet, and integrating it into your business is a no-brainer.

For accounting firms, this means getting your business across socials like Facebook, Instagram or Twitter. Offering potential clients access to who you are and what you represent as a business is the fastest way to get them in the door.

3. Wellness, wellbeing and all of that good stuff

Because it’s 2020 and we’re all about freedom of speech and gender equality and, would you believe, actually enjoying where we work.

Employee wellbeing is taking precedence in the workplace where once, it never did. Accounting is a stressful business to be in and that stress can leach into other areas of life.

The time has come for accounting firms (and workplaces everywhere!) to put their people first. Managing a business with loyal and hardworking staff means creating a safe and encouraging environment where they know that their boss has their back.

It’s as easy as that.

4. Working remotely

As the number of businesses moving their practice online goes up, so too does the capacity for people to work remotely.

For a number of cutting-edge companies, employees don’t need to be in the same city, country or continent as the business. Heck, they don’t even have to be in the same hemisphere!

That’s the glory of working remotely – it enables people from different places, cultures and perspectives to come together under a single business no matter where they live.

A key cog in the RBK machine is our mate, CPA and director, Jonathan Kane (Jono). After travelling the world, he found a life for himself in Argentina and works there for 6 months of the year!

It’s all about adapting to change and running with it

Because RBK believes in leading the pack and disrupting industry norms, we are passionate about embracing new accounting trends. And the ones we’re seeing in 2020 are definitely the kind that we can get on board with.

Our team of accountants are changemakers. We’ll help you become one in business, too