The internet is probably the most important asset to many businesses today. It is incredible to think that a little over fifteen years ago very few businesses had a website, never mind a full online business model. One area where small businesses have been reluctant to let go of traditional methods though is accounting. Perhaps the gravitas of tax and payroll seems better suited to filing cabinets and forms; or maybe small business owners simply want to stuff their accounts information into an envelope and forget about it once they post it to their accountant. Whatever a business’s reason for performing accounts the old way, they are almost certainly missing out on several advantages that modern, online accounting can provide.
Access to Services Beyond Your Location
By using an online accountant a business can escape the closed market of their home town/city. This is especially beneficial for businesses in rural areas where the options provided by local accounting firms can be limited. When all your accounting is done online, geography should prove no obstacle to getting the best deal.
Getting the Best Price
Opening up the market place, by considering an online accountant, also gives small businesses the ability to browse the best prices available. By having a nationwide selection of accounting services to choose from business owners can find the most affordable accountant for their needs.
The most obvious benefit of online accounting is the effectiveness of email versus snail mail. Email is instant, so pressing and urgent queries can be answered in as quick a time as possible. Also by storing your data electronically, and passing it onto your accountant in a recognisable, electronic format, your accountant can process your accounts far faster than would ever be possible using papers and forms sent through the post.
Email also has the advantage of being available 24 hours a day. Now, it may likely be the case that your accountant only works normal office hours, however, if you have a vital piece of information for their attention, and it happens to be 2am, you can send it to them knowing it will be there for them when they arrive at the office at 9am. This is far more efficient than sending information in the next morning’s post where they may not receive it until the next day at the earliest.
For small businesses, small savings can make a world of difference. By accounting online you save on phone bills, stamps, forms, paper and travel to your accountant’s office. Over the entire year this will add up to handsome saving.