On July 1, 2024, the use of the National System of e–Invoices (KSeF) will become compulsory in Poland. This marks not only a change in how documents are issued and transmitted, but also alters the workflow of accountants. However, does KSeF signify the end of traditional accounting as we know it? Will the new system supersede the work of accountants and accounting firms?
Accountants are skeptical
There’s a lot of skepticism surrounding KSeF. According to the study “KSeF – Facts. Fears. Doubts” prepared by Unifiedpost Group, accountants are primarily concerned that entrepreneurs may not understand the rules of the new system, potentially leading to problems such as incorrectly filling out documents or submitting incorrect data.
40 percent of surveyed accountants anticipate technical difficulties with the system that could complicate their work and generate additional stress. About 34 percent believe that the regulations concerning KSeF are unclear, which may lead to problems with interpretation.
Accountants are also worried that the businesses they work with might not be satisfied with the new system. If they fail to understand KSeF or if the tool generates problems, they may start blaming their accountants for these difficulties.
“Accountants are still skeptical of KSeF. In my opinion, however, they shouldn’t be. KSeF is a major step toward digitization and automation of accounting processes. But it doesn’t mean that accountants will be replaced by machines. In fact, the purpose of KSeF is to streamline the work of accountants by changing the standards and tools they use. It’s crucial that they are well-prepared to handle the new system and support their clients or employers effectively,” says Edyta Wojtas, co-founder and Vice President of the Board of BrainSHARE IT, producer of the SaldeoSMART application.
Not just drawbacks. The advantages of KSeF in the eyes of accountants
Accountants also see the positive aspects of the new system. 56 percent of respondents admit that KSeF speeds up and automates document processing – a huge advantage as it reduces the time spent on creating invoices, leading to increased productivity and efficiency.
Industry professionals also appreciate the abolition of lost invoices, which translates into reduced stress levels and less time spent retrieving necessary documents. For 36 percent of accountants, a key benefit is minimizing errors related to manual data entry. Just over 16 percent of respondents indicate that the main advantage of KSeF is tightening the tax system.
“In my opinion, the National System of e–Invoices is a really fantastic solution, both for business owners and accounting firms. Above all, it helps solve the problem of lost invoices – documents that don’t arrive on time, being transported in cars, stored at homes, etc. In many cases, they reach accountants when it’s already too late to deduct VAT. Any system that organizes, structures, and consolidates documents in one place is a good idea,” emphasizes Kamila Cieszkowska, an accountant and owner of the Accounting Office Podatnik P&K Cieszkowscy.
What will KSeF change? Entrepreneurs’ uncertainty as an opportunity for accountants
KSeF will automate many routine tasks of accountants and accounting firms. However, this does not mean that these specialists will become redundant. On the contrary, their role will become more strategic and valuable. What’s more, entrepreneurs’ fears of the new system may create more work for accountants.
“For those who worry, KSeF represents a significant opportunity for the accounting industry. It is likely to increase the number of clients using accounting firms. Entrepreneurs, due to their uncertainty or the complicated procedures associated with KSeF, are increasingly choosing to rely on the knowledge and experience of professionals or on platforms integrated with KSeF that support accounting processes,” adds Edyta Wojtas of SaldeoSMART.
Many entrepreneurs still do not know how KSeF works. Even those who have so far efficiently managed their own finances are now seeking support from accountants and accounting firms. They want not only to understand the new system, but also to learn how to use it effectively. Consultation with accountants and accounting firms has thus become an invaluable source of information regarding new requirements and opportunities presented by KSeF.
New value of accountants in the world of KSeF
The introduction of KSeF not only represents a chance for new clients for accounting firms but also an opportunity to demonstrate the value that accountants bring to the accounting process in the era of KSeF. Their experience and professionalism will increase in importance. This is also because the new system will streamline their work, providing additional time that can be dedicated to other aspects of accounting, such as financial analysis or cost optimization, giving them a chance to expand their client portfolio.
“Clients using accounting services or systems integrated with KSeF also stand to gain. Thanks to these new options, they can not only receive VAT returns faster, but they also have convenient access to information contained in invoices,” says Edyta Wojtas from SaldeoSMART.
Even with modern technology, the accounting process is only partially automated, and it still requires knowledge and verification by a specialist. For instance, automatic invoice reading using OCR technology has lightened the workload of accountants in the tedious, manual transcribing of documents, but it has not taken away their jobs. Accountants are still essential in ensuring the accuracy of recorded data and precision of postings.
“In my opinion, accounting will become more efficient from July 1, 2024, but KSeF will not eliminate the role of the specialist. We will still need the knowledge and experience of an accountant,” observes Edyta Wojtas.
KSeF is not a competitor but rather an opportunity to develop skills and adapt to new workplace standards. Everything indicates that interest in accounting firms specializing in KSeF will grow, and the tool itself will bring benefits to both accountants and their clients.
