What is an Online Accountant?

What is an Online Accountant?
This is a short article about using the services of a web-based accountant. It explores how working online with your Accountant can offer better value for money and greater efficiency for both parties. One definition of online accounting could be the application of web based and internet technologies to the business accounting function. In reality it’s about offering businesses more choice when it comes to choosing a service that’s vital to their business.

Online Verses the Traditional Route
An online accountant may be based anywhere in the UK but with the advent of technology location is no longer an issue. This means that businesses can shop around and are no longer limited by choice dictated by their location. Along with this comes the ability to really compare costs. Many online accountants break down the services they offer so you only need to pay for the services you want and many of the online accountants offer fixed fees.

Why Switch to Web Based Services?
You will find access to everything from book keeping and payroll to the production of your full year end accounts. Traditionally, accounting has worked on historical information and it’s only usually at the end of the trading year that a business finds out how much profit it has made and what sort of tax bill it’s facing. The alternative to this was to pay extra and have monthly management accounts. However, many of the online accountants work in real time, providing up-to-date information about your businesses performance so you can see what is happening at any given moment. This allows you the flexibility to act upon the information where necessary. It’s a bit like your business having its own Finance Director, but without the cost.

Web-based Accountants Delivers Great Service
There is no need to worry about losing the personal touch either as many of the online accountants will provide you with a dedicated account manager who you can contact whenever you need to talk about something. Getting your information to web-based accountants is also easy. You either scan and email or fax or you can still use snail mail if you’re not quite ready to do everything on line.

Working on the internet is a new way of getting your accounts completed. It’s taking off in a big way as more and more people understand how it simplifies the whole process and can offer better value for money than the traditional route.