With more softwares and platforms being released every day, more tasks are being automated – and one might wonder if traditional roles, such as bookkeeping, are on the verge of extinction. So is bookkeeping a dying profession? The profession is not dying; instead, it's evolving to meet the demands of the 21st century.

Bookkeeping fraud (also referred to as accounting fraud) refers to types of fraud committed by officers, accountants, and other employees that manipulate company finances and records to achieve some kind of personal gain.

Yes, a bookkeeping business can be very profitable. In fact, ZipRecruiter reports that the national average income for an independent bookkeeper is $56,100, though some report income as high as $122,000. The cost of doing business is relatively low, mostly related to bookkeeping software, so profit margins are high.

It's all too easy to pay too much tax, miscalculate your figures, or inadvertently leave out important information if you haven't received proper training. Miscalculating your obligations can even end up hitting you in the pocket hard.