Stuart Miller of Xero on Money Skills

Small businesses make better decisions when they understand their numbers, and bookkeepers are often the people who make that possible. That’s what we learnt in our Leadership Takeover conversation with Stuart Miller, Director of Public Policy and Technology Research at Xero. He’s a former practice accountant who moved into software and then into policy, so he sits right at the intersection of day to day bookkeeping reality and the decisions being made behind the scenes.

That matters because the next few years will bring more compliance touchpoints, more digital expectations, and more conversations that start with, “Why are you making me do this?” Stuart’s message is that bookkeepers should not carry the burden alone, and we also need to use our voice more, because change lands better when the profession leads.

At The 6 Figure Bookkeeper we help bookkeepers build profitable, sustainable practices and be recognised as trusted advisers, not “just” people who do the books. By the end of this article, you’ll be able to translate the biggest themes from the interview into practical steps for client conversations, pricing, and confident practice growth.

This article contains paid promotion for our partner, Xero.

Who is Stuart Miller, and why should bookkeepers listen?

Stuart didn’t enter the profession through a predictable route. He trained in practice, worked across tax and compliance roles, then moved into software. Stuart’s journey includes training and product leadership, before joining Xero.

What makes his perspective useful for bookkeepers is that he keeps coming back to the human impact of the work. He shared a story from practice about a client arriving in tears over tax stress, and how taking time to guide her through it changed the experience entirely. That moment shaped his belief that good bookkeeping and accounting work improves lives, not just spreadsheets.

Today, his role includes smart data policy, late payment measures, and discussions around e-invoicing, plus ongoing conversations with government departments about how changes affect small businesses and the people supporting them.

Why “money skills for all” is a bookkeeping issue, not just a public one

Stuart Miller sees financial literacy as a huge problem for society. He sees the bookkeeper’s role in financial literacy as turning confusing guidance into something a business owner can act on.

Stuart talked about how people often struggle to access finance basics in a usable way, even when information technically exists. He described a lot of official guidance as word soup, and that lands with us, because we see it every time a client forwards a link and says, “What does this mean for me?”

For bookkeeping practices, that creates a clear opportunity.

• Clients don’t just need compliance, they need calm and direction.
• Confidence grows when someone understands cash flow, profit, and what the numbers are pointing to.
• When stress drops, relationships improve and clients stay longer.

There’s also a social mobility angle here. Stuart links financial literacy to lowering barriers to starting and growing a business, especially for people who did not grow up talking about money at home.

Bookkeepers are often the bridge between “I have an idea” and “I can run a business that lasts.”

The hidden work behind policy changes

Policy shapes what bookkeepers have to deliver, explain, and charge for.

In the interview, Stuart described the range of policy work that sits behind the scenes, including smart data initiatives, late payment reform, and the move toward e-invoicing. Even when these topics feel distant, they show up as workflow changes, software changes, and client expectations landing in your inbox.

One of the most important points he made is this. Government departments cannot educate unrepresented taxpayers at scale without the profession. In other words, bookkeepers become the frontline educators whenever new rules land, whether or not the time is funded.

That’s exactly why he encourages bookkeepers to speak up early and use the wider ecosystem. Larger vendors, like Xero often have public policy and government relations teams, and he specifically invites practitioners to reach out when they spot issues coming.

If it’s a problem for one practice, it’s often a problem for many.

Stuart Miller on Making Tax Digital

Making Tax Digital is a multi year programme, and Stuart Miller was candid about the strain it creates.

He described how bookkeepers can end up in overload mode, delivering repeated messages of “you must do this,” especially when official communications haven’t reached clients first. When that happens, the change feels like it’s your decision, not HMRC’s.

At the same time, he sees MTD as a catalyst. More regular reporting often helps businesses finally see the value of having a bookkeeper, not just for sending data, but for understanding it.

He also offered practical advice that we agree with:

Segment your clients early

Know who is already digital, who is on software, and who is still running everything from a spreadsheet. The first group will be far easier to support, while the last group will need more time and support.

Start the uncomfortable conversations sooner than you want to

The earlier you talk about what’s coming, the less it feels like a sudden demand. That also gives you time to repackage services and pricing with the benefit of time.

Price for the extra touchpoints

Stuart’s view is direct, bookkeepers add huge value and too many undercharge. Increased reporting means increased responsibility, and your fees need to reflect that.

Stuart Miller on AI, automation, and human skills

AI will change the workflow, but it won’t remove the need for finance professionals.

Stuart’s take is that automation can help with a large chunk of the process work, and that puts more weight on the part only humans can do well, judgement, accountability, and communication.

For small practices, time saved through automation can be reinvested into higher value work, such as:

• explaining results in plain English
• proactive cash conversations
• benchmarking and insight led check ins
• earlier nudges that help clients get support before trouble hits

He also pushed back on using AI “because you’re supposed to.” If a tool adds friction, it steals time. If it removes friction, it creates capacity. That’s the test we like.

The pricing message bookkeepers need to hear

Financial literacy isn’t just about your clients’ understanding of business financials. It’s also about you seeing yourself as a business owner and building your practice accordingly. Stuart explicitly called out underpricing and encouraged bookkeepers to recognise the true value of what they do, especially as reporting and compliance touchpoints increase.

We see the same thing inside the 6FB. Undercharging keeps practices stuck. It turns growth into stress, and it makes every new compliance change feel like an unpaid burden instead of a paid service.

If you do more work, you charge more. If you take on more responsibility, you charge more.

Stuart Miller Interview FAQs

Who is Stuart Miller?

Stuart Miller is the Director of Public Policy and Technology Research at Xero. He is a former practice accountant who moved into accounting software and public policy, working closely with government, regulators, and industry bodies on issues like Making Tax Digital, smart data, e-invoicing, and financial literacy.

His background in practice means he understands the real pressures bookkeepers face, and his role at Xero gives him a platform to represent the profession’s voice when policy and digital changes are being shaped.

What does financial literacy actually mean for bookkeepers?

It means bookkeepers play a bigger role in helping clients understand what their numbers are telling them, not just recording or submitting them. In practice, that looks like explaining cash flow, profit, and tax obligations in plain English so clients can make better decisions and feel less anxious about money.

Is improving financial literacy now part of a bookkeeper’s job?

For many clients, yes. Not because bookkeepers are responsible for teaching everything, but because clients often turn to their bookkeeper first when something feels confusing or overwhelming. Even small explanations, given regularly, can make a big difference.

How can bookkeepers help clients with money skills without working for free?

Build short, intentional “money moments” into paid services. A monthly or quarterly cash and profit check in, with one action for the client, keeps boundaries in place while still delivering value.

Will AI reduce the value of bookkeeping work?

AI changes how work is delivered, not why bookkeepers are valuable. Automation can speed up repetitive tasks, while trust, accountability, and judgement remain human responsibilities.

How should bookkeepers explain their value when clients want to do it themselves?

Position your role as a partner rather than a replacement for software. Clients can record transactions on their own, but bookkeepers help them avoid mistakes, spot issues earlier, and use the right information for decision making. If your client wants to grow and they’re not financial professionals themselves, they need your support.

Who should bookkeepers talk to when new rules create practical problems?

Software providers and industry organisations with public policy and government relations teams. Stuart encourages practitioners to raise issues early, because one practice’s problem often signals a wider industry issue.

This interview was filmed as part of our leadership series. Watch the full interview with Stuart miller on our YouTube channel.