The Future of Accounting: Trends to Watch

If you’re involved in accounting in 2025, you can probably feel the earth moving beneath your feet. Things are changing. For some, that’s cause for concern. For others, it’s an exciting harbinger of a positive, opportunity-packed future for accountants. Where do you sit on the scale?

There’s no right or wrong answer here. We can’t look into the future, but we can take a close look at current trends and make educated guesses as to where the future of accountancy lies. 

There are a few areas where the direction of travel is clear, like automation, AI, shifts in human roles, and accounting software—things we’re already seeing. The truth is, accounting technology is evolving fast, and accountants in the Philippines must adapt to keep up.

We’re here to make that easier. Let’s explore some factors influencing the future of accounting and see what the future of accounting jobs might look like.

The impact of automation and AI on accounting jobs

You may be getting a touch of AI lethargy in this digital age. If so, you’re not alone. We can barely walk down the street without hearing how AI is coming to take our jobs. But let’s be clear, we’re already a few years into the AI revolution and accountants haven’t yet started disappearing. So, how is AI affecting the future of accounting?

We’re already seeing its impact more and more. Many accountants use AI every single day,even if that’s only as a feature of a larger accounting software program. On the surface, AI is taking a lot of time-consuming data entry tasks off our hands. AI can now perform:

• Data entry
• Invoice processing
• Bank reconciliations
• Bookkeeping (with platforms like QuickBooks)
• Transaction categorization
• Anomaly flagging
• Reporting and insights
• Rule-based tasks like payroll processing or tax form generation (through Robotic Process Automation)

AI is streamlining workflows. It’s also reducing the demand for certain entry-level roles, such as junior bookkeepers and data entry clerks. For some, that’s a worry.

However, AI is also creating new roles. Especially for those who can interpret data, provide strategic insights, and ensure compliance in a rapidly evolving regulatory environment. New roles are emerging, like:

• Financial analysts
• Tech-savvy auditors
• Data-driven consultants

We can think of AI as elevating the future of accounting jobs, not eliminating them altogether. It’s taking the pressure out of manual, task-based activities and freeing up time for advisory services, guiding clients through financial planning, forecasting, and decision-making. 

Love or loathe it, AI is here to stay. Accountants who want to thrive well into the future must embrace AI-powered accounting technology or risk falling behind.

Emerging business models in accounting

Technology isn’t the only thing changing the future of accountancy. Accounting firms are also looking at new business models to accommodate emerging technologies and shifting client needs. 

You’re probably familiar with traditional billing methods and service structures. But these systems are giving way to more flexible, tech-enabled approaches. These approaches prioritize client relationships and long-term value in a competitive marketplace.

Let’s explore three of the main business model changes influencing the future of accounting:

Cloud-based accounting

Cloud-based accounting has changed the way Philippine firms work, and it’s only going to become more prevalent. Platforms like QuickBooks open up new opportunities like never before. Not only do they incorporate AI for automation, but they also allow accountants and clients to access financial data in real time and collaborate remotely. In short, they enable more proactive financial management, and as this becomes the norm, clients are going to expect more and more proactive accounting.

Subscription-based pricing models

Perhaps we have streaming services to thank for this one. Or perhaps it’s just more efficient. Either way, we’re seeing subscription-based pricing models more and more, and in more and more industries, not just in accounting. 

Instead of hourly billing, many accounting firms are turning to subscription-based models instead. These are essentially fixed-fee service packages. Why are they growing in popularity?

Some might argue they’re more transparent and they make it easier both for accountants and their clients to budget. We’d say they also offer deeper, more consistent relationships that position accountants as long-term partners, not just one-off contractors.

Client accounting services (CAS)

CAS bundle services, like bookkeeping, payroll, financial reporting, and advisory, together into one package. Basically, this enables firms to become a virtual finance department for clients. That's particularly attractive for small businesses without in-house teams. 

Let’s get into the details:

The rise of client accounting services

CAS offers comprehensive outsourced financial support. Rather than simply providing tax prep or bookkeeping on an as-needed basis, CAS allows accounting firms to deliver a full suite of ongoing services, like payroll, financial reporting, budgeting, or strategic advisory. And this tells us one crucial thing that’ll dictate the future of accountancy for years to come, clients want more than compliance, they want insight and partnership.

So, what is driving the demand for CAS?

1. Businesses are seeking cost-effective alternatives to hiring full-time finance teams.
2. Businesses want real-time access to financial expertise to support faster, smarter decision-making. 

So, you want to meet this demand and become a forward-thinking accounting powerhouse? You’ll need to embrace accounting technology, including:

• Cloud-based accounting tools: Platforms, like QuickBooks, streamline everything from transaction management to payroll processing.
• Workflow tools: Make sure everything’s running as it should with workflow tools like Karbon or Jetpack Workflow. These help firms manage CAS engagements at scale.
• Reporting tools: Key to CAS are meaningful insights. Reporting tools like Fathom or Spotlight Reporting make this 10x easier.

Such tech will help you deliver CAS, and you may find you need to move away from a traditional mindset and towards a client communication-oriented way of thinking.

The future of accounting jobs: What skills will you need?

AI may be poised to take some lower-level accounting roles, but it’s not going to replace the entire accounting community. However, accountants can’t be complacent. Forward-thinking accountants should think about how best to future-proof themselves now, before it’s too late.

Let’s be clear, traditional accounting knowledge is still important, but it’s no longer enough on its own. Modern accountants must expand their capabilities in key areas that go beyond the numbers.

So what are those areas?

• Data analysis: We can’t overstate the importance of data analysis in modern accounting enough. Increasingly, AI is crunching the numbers so human accountants are now required to spend more time interpreting large columns of data. While AI can uncover trends and forecast outcomes to some extent, humans need to be able to interpret AI findings, and, most importantly, develop them into actionable steps.

Knowing how to work with platforms, like Power BI or even Python, for data manipulation is becoming a major advantage.

• Cloud-based accounting proficiency: Being able to work effortlessly in cloud-based accounting environments, like QuickBooks, is becoming more and more important. Accountants who can take to these systems seamlessly will be in great demand.
• Understanding AI and machine learning: Okay, you don’t need to train as a developer, but it’s a good idea to have some grasp of how these technologies work. The better you understand AI, the better you’ll be able to use it for essential accounting tasks.
• Cybersecurity awareness: The future of accountancy is digitalization. That brings opportunities, but also new challenges, in particular, security. We predict accountants with a strong understanding of cybersecurity will be favored over those without.
• Communication and advisory skills: Human communication and advisory skills will also become more valuable as machines do more and more of an accountant’s everyday tasks. Clients are going to value the human touch more than ever.

Accounting and cybersecurity: A growing focus

Did you know that more than 80% of all organizations in the Philippines reported three or more security breaches in 2024? For many, that's a scary stat. Digitalization is unavoidable, but risks like these are a major concern. Especially for industries like accounting, where sensitive financial data is inherent.

Cloud-based accounting is bringing tremendous efficiency and flexibility. But it’s not without its drawbacks. A single, small security lapse, like weak passwords or unsecured Wi-Fi, can have serious consequences.

However, it's not all bad news, firms can take a proactive approach to cybersecurity to avoid nasty shocks ever happening. Many cloud accounting platforms, like QuickBooks, already have robust encryption and multi-factor authentication. But it’s also important to educate staff on best practices, from spotting phishing emails to handling client data responsibly.

Another top tip for accountants is to develop clear cybersecurity policies and incident response plans ahead of time. That way, if anything should happen, you’re prepared. For those handling particularly sensitive data, investing in cybersecurity insurance may also be a wise move.

So, what can we learn from this? Firstly, cybersecurity isn’t just a tech issue, it’s a core part of modern accounting. Firms that go the extra mile to protect themselves and their clients position themselves as reliable, forward-thinking partners in an increasingly complex arena.

Evolving client expectations and service models

The truth of the matter is that clients are no longer satisfied with end-of-month reports and annual tax filings. Across industries, clients increasingly expect a greater presence. They want real-time financial insights, proactive advice, and a collaborative, tech-enabled experience that helps them make faster, smarter business decisions.

We can place this shift in expectations down to a few things. But, most importantly, business owners are increasingly used to instant access to information in all areas of their operations. That’s part of digitalization. 

Instead of calculating cash flow once a month and hoping for the best, business owners now want interactive dashboards that show cash flow in real time, some even expect automated alerts and data-backed insights, too.

Accountants who fail to meet these expectations risk falling behind. The good news is that technology can play a huge role in making this a reality:

• Cloud accounting: Cloud accounting makes it much easier to view and share real-time financial updates, anytime, anywhere. 
• Integration tools: Platforms like Fathom and Syft Analytics can turn raw data into visual insights. That means more accessible financial information in a matter of clicks.
• Automation: Routine tasks can now more or less be left entirely to tools like QuickBooks. That lets firms spend more time on advisory services.

Leveraging technology for client-centric services

Advances in tech are probably the single biggest factor influencing the future of accounting right now.

But firms should be wary of over-technologizing. It’s more important to choose a select few tools, the right ones, than to try to implement every tool. 

So let’s take a closer look at the main accounting tools you should be considering:

• Automated reporting software: Gone are the days when accountants had to spend hours slaving away at detailed financial reports. Now, tools can generate impactful reports in moments. They pull live data from accounting systems to generate accurate and insightful forecasts and reports that clients can access from anywhere. 
• Real-time dashboards: Integrated with cloud-based accounting systems, these dashboards offer clients 24/7 access to up-to-date financial metrics. The major advantage? Businesses can make informed decisions right here, right now.
• Workflow automation tools: Speed up almost every aspect of day-to-day accounting with tools designed to enhance internal operations. And communicate with clients better. Faster response equals higher client satisfaction.

Accounting technology is always evolving, now more than ever. It’s a good idea to keep updated with breakthroughs and make sure your accounting tech is cutting-edge.

Future accounting tools: Automation, AI, and blockchain

We’ve touched on emerging technology, so what about the future of accounting tools? Where does accounting technology go from here?

We don’t have a crystal ball, but we do have a few ideas based on current trends:

1. Automation: Automation is already here, but for all its powers, it’s still a relatively new technology, and it has a long way to go. We expect automation to become a bigger and bigger part of accounting, with broader capabilities than it currently has.
2. AI-powered financial analysis: AI will soon become the go-to source of financial analysis. Accountants already use it, but you can expect to see AI take the reins in a huge array of accounting areas. That includes forecasting, auditing, risk assessments, anomaly detection, communications, and a whole lot more.
3. Blockchain: When it comes to cybersecurity, blockchain’s the next big thing. Its decentralized, tamper-proof ledger system allows for real-time verification of transactions, especially useful for auditing and fraud prevention. It could also be a big play in international accounting, making cross-border payments far smoother.

Balancing technology with human expertise in the future of accounting

We’ve spoken a lot about technology, but we should make one thing clear, clients still value human expertise. It will be a long time before businesses are ready to hand over their accounting to faceless algorithms entirely.

Sure, technology can [perform impressive feats even now, its powers of streamlining and analysis are nothing short of breathtaking. But it can’t replace the insight, judgment, and personal connection that great accountants bring to the table.

In our opinion, it’s all about balance. The future of accounting lies in balancing technology with a human touch. Human accountants can embrace the newfound freedom to focus more on complex problem-solving and building trust with clients, which are, for most accountants, the most rewarding parts of the job. 

Finding the right tools is crucial. We recommend exploring a top all-in-one accounting software like QuickBooks to get your bearings. QuickBooks has many of these groundbreaking features, including cloud accounting, invoicing, reporting, inventory management, and much more.

Try QuickBooks for free for 30 days today.