I suspect that the time spent on accounting or the money spent on accountants will influence decisions made by small-small business owners (1-5 staff range), in that some will take these risks. Admin is a huge pain for very small businesses.
I run a small business (no employees) and GnuCash was ok. Then I got tired of battling it for years to do certain things.
Spent a few days human coding a command line income and expense tracker a little over a year ago at https://github.com/nickjj/plutus.
I do my estimated quarterly taxes with its assistance in literally 5 minutes. All I do is download the CSV files from my bank and run the reports I'm interested in seeing through it. At the end of the year I run through the full numbers and triple check things in about 10-15 minutes. These numbers give me complete confidence to file my taxes accurately from a business income / expense perspective.
Of course you can use the tool for personal income / expense tracking too. Personal vs business is an arbitrary category name.
Systems like quickbooks, hubspot, payment processors all have tiers where yes on paper they make it easy to properly setup good accounting practices, but you’ll spend an additional 500/month+ to get those features.
Hiring an accountant to clean up the books and do quarterly book keeping is equally as expensive if not more.
Especially for small service based businesses, where margins can be tight, revenue can fluctuate heavily MoM, committing an additional $6k+ per year just to keep books organized is non-trivial.
As an experiment, i gave all our finance data for 2025 to an agent, and it did quite well after spot checking. There may be a middle ground where users can do exports, verify with “real” software, and have agents handle contextual classification to considerably cut down costs
On the other hand I wonder if it will reveal the downsides of AI at a larger scale. Small businesses will have much lower tolerance for LLM inefficiencies. If it doesn't save time/pain it's just not worth it.
A computer can help you find that problem, but solving it is still a human issue. One of the things people want to know about invoices is which are likely to be paid on time, as some customers consistently delay or attempt to avoid paying.
It's not just about being able to balance Xero but knowing rules, procedures and the way the tax office works.
Those three letters "CPA" in one's email signature basically expand to "I won't fall for your low effort form letter bluff, you can't get one over on me that easily" as far as the auditor who's following up on the form letter cares.
- an Aussie half-wog
Claude still isn't at the point where I would personally trust it to be expert level in a field I'm not (very different story when I'm getting it to do something I do know about myself), and the risks of screwing up your reports far outweighs the cost of getting a human to go over things.
But 100%, I can see accountants that use Claude replacing accountants that don't.
(Also, if we're counting, I'm only 1/4 Wog. 3/4 grandparents are Anglos!)