Rising workloads, talent shortages placing pressure on accountants, bookkeepers

The AI-powered bookkeeping software provider said the research indicates that Australia’s accounting and bookkeeping sector is being squeezed from multiple directions.

“Firms are being asked to manage more compliance, more client expectations, more technology platforms and more data, while also competing for experienced staff in a tight labour market,” said Dext.

Dext noted that many experienced partners, senior accountants and bookkeepers are now retiring or approaching retirement, while fewer students are choosing accounting over other professions.

Paul Wittich, general manager for APAC at Dext, said the research has shown that workload pressure is no longer just a seasonal issue for accountants and bookkeepers, but a structural challenge affecting firms of all sizes.

“Australian accountants and bookkeepers have always worked hard, particularly around BAS, payroll and EOFY deadlines, but what we are seeing now is different. Workload pressure has become constant, not occasional,” said Wittich.

“Firms are dealing with more client demands, more regulatory complexity and more expectations to provide real-time advice, but they are often doing it with the same number of people, or in some cases fewer people than they need. This is creating a real capacity problem across the profession.”

The research indicated that managing high workloads was a significant challenge across companies of all sizes, with 60 per cent of sole traders and 68 per cent of organisations with more than 100 employees listing it as an issue.

“For sole traders, the pressure can be particularly personal because there is often no one else to absorb the overflow. For larger firms, the challenge is scale: more clients, more staff to manage, more systems, more compliance obligations and more complexity,”

The shape of the problem changes, but the underlying issue is the same. There is too much manual work still sitting inside accounting and bookkeeping workflows.”

Dext said this has had natural knock-on effects, with fewer businesses having access to senior and professional advice. It also noted that some accounting firms have stopped accepting smaller clients because they lack staff.

At the same time, accounting and bookkeeping firms are also under growing pressure to adapt to new technology, particularly artificial intelligence. Dext’s research found that 72 per cent of respondents agree or strongly agree they feel pressured to stay up to date with the latest technology.

The pressure was especially acute among sole traders, with two in five saying that the pressure to stay up to date with technology had worsened since the rise of AI. This was the sharpest negative shift recorded across any size band, according to Dext.

“AI has changed the conversation almost overnight. Accountants and bookkeepers can see the potential, but many are also asking how they are supposed to assess, adopt, and manage new tools while already dealing with heavy workloads,” said Wittich.

Despite the pressure to keep pace with new technology, Dext’s research suggests automation and AI are already delivering benefits for many practitioners. Almost half of respondents, 46 per cent, reported some or significant improvement in workload and stress management due to AI tools.

“The encouraging finding is that many accountants and bookkeepers are already seeing AI and automation make a positive difference to workload and stress,” said Wittich.

“Technology should not create another job for accountants and bookkeepers. It should remove the repetitive work, improve the quality of data and give practitioners the confidence to spend their time where it matters most.”