The Ultimate Guide to Online Accountants

Why not instruct an Online Accountancy Firm?

All businesses in the UK have to keep accurate business records. This is mainly to provide records for your business to HM Revenue & Customs (HMRC), in order to prove that you are compliant with legislation. You also need to maintain accurate and up to date business records to keep track of the company’s profitability. Recently, HMRC has introduced Making Tax Digital, now every company that exceeds the VAT threshold of £85,0000 has to keep accurate records using an online accounting package. We as a firm are 100% digital and the online accounting package called Xero comes highly recommend from us. The process of bookkeeping can be a time-consuming task, this is where a more popular solution comes into play. Why not instruct an Online Accountancy Firm?

Online Accountants can deliver the same level of service to clients as a traditional accountant would. During these uncertain times, business owners have had to adapt to using video conferencing tools rather than regular face to face meetings. An online accountancy firm allows the accountant to keep prices as low as possible without cutting the service standards. Instructing an online accountancy firm enables you to send in statements and invoices regularly, using applications such as Autoentry. This software allows the user to automate data entry by accurately capturing all of your invoices, receipts, expenses and statements into your accounting solution. The benefits of using software like this are the following:

Save time

No more manually inputting invoices, receipts, expenses or statements. AutoEntry extracts the data you need and publishes to your accountancy package.

Paperless

With data stored securely in the cloud, there’s no need to store, file, print and copy paper documents anymore.

Integrations

Seamless automatic publishing of verified data into your accounts software.

Mobile App

Submit invoices, receipts and expenses on-the-go via our mobile app for iOS and Android devices.

This ensures your records are maintained promptly while being accurate. Traditional mailing services aren’t required if you use online accountancy firm, saving both time and money.

When dealing with a traditional accountant, a large amount of storage space is required for business records and ensuring the information is secure. With an online accountancy firm such as eAccounts we have a solution to this, we remove the need for the storage of paper documents, resulting in less space being required at your place of work. Records are kept 100% digital and filed in organised folders. One concern business owners may have is that they won’t have face to face interaction with an accountant, but with the use of technology and video conferencing meetings. These can be arranged which saves on travel costs, expenses and time.

An online accountant allows the business owner to choose a suitable practice anywhere in the world. Rather than having to outsource to a local accountant that may not be able to offer the same quality of services. Another benefit of using an online accountancy firm is having live access to the company’s financial information can help the business owner make crucial decisions without having to arrange a meeting or visit to your accountant face to face.

Since the start of the pandemic, the world has seen a large increase in organisations operating online. An online accountancy firm is beneficial to all types of business structures. eAccounts offer a solution which is simple, quick and low cost.

For more information on the ultimate guide to online accountants. Please contact us on 02921 056209 alternatively email admin@e-accounts.co.uk