At The Smart Accountants, we understand that online accounts may seem like a completely alien idea at first. However, like everything else you now take for granted online, it will soon become one of your normal business activities once you decide to give it a go.
24/7 access to all your accounting information
With more and more people enjoying pretty much 24/7 internet access and expecting 24/7 service, pretty much across the board, online accounting is the perfect solution for the vast majority of small to medium sized businesses.
What are your accounting options?
In the good old days, many small to medium sized business owners may have had an employee who would come in, possibly on a part-time basis, to attend to their accounting needs. Then, many of these business owners realised that the cost of this luxury simply could not be justified. It was at that point that business owners started to look to firms of accountants, both large and small, to take on their accounting activities. Today, with more and more businesses embracing online solutions for communication, promotion and training, it is a logical step forward that online accounting is becoming more and more accepted, across the board.
Keeping your finger on the pulse
When you run online accounts, you have access to your up to date accounts wherever and whenever you have access to the internet. Furthermore, by working with the right online accounting partner, you can be sure that your online accounts are being organised and managed in such a way that you’re getting all the valuable information you need to run your business as efficiently and as effectively as you can, whilst at the same time making sure you stay on the right side of the law.
Although small and medium-sized business accounting can be relatively straightforward, it’s not something you want to get wrong. With hefty fines and even imprisonment looming for significant errors, it’s not a task to be taken lightly. The long and short of it is, if accountancy’s not something you’re doing, day in and day out, it’s only too easy to miss a deadline, overlook an obligation or fail to deduct an allowable expense. These oversights could make the difference between profit and loss in the best case, and in the worst case, could give rise to a fine! These are the reasons why cutting corners with accounting rarely makes sense.
Keeping costs under control with online accounting
It will come as no surprise to most people that online accounting generally works out significantly cheaper than face-to-face accounting. In a face-to-face accounting arrangement, you’re likely to be helping (at least in some way) to fund your accountant’s office, their company car, their secretary and so on. When it comes to online accounting, you have the choice of going directly to likes of Xero or choosing to combine the forces of Xero with an online accounting expert.
By choosing the right online accounting partner, you know you have an expert on your side, helping you make the most of the system you’re using. What’s more, you’ll find that most of these online accounting firms are lean businesses, passing on the savings they’re making by choosing to work perhaps in a remote, often low cost location, to you. What this means is that you can gain access to real expertise at a fraction of the cost you would pay if you were to engage an accountant with a High Street presence and at the same time have 24/7 access to your accounts.
It’s win, win with online accounts
There’s no doubt that online accounts is the way to go for many small and medium sized businesses. So, if you’re reading this and thinking…this seems to make complete sense, why not get in touch? At the end of the day, it costs nothing to explore your options.
