What is an online accountant?
An online accountant is an accountant that uses the latest software technology to deliver their service to the client. This software can be using apps like Xero, QuickBooks or Freeagent to maintain the accounts but also supplementary apps like Receipt Bank or Arthur Online.
Using the online software increases the efficiency and reduces the cost for the accountant because they can avoid a lot of the data entry involved with the manual processing of accounts.
When the accountant uses online software, they have more time to spend with the client because they are being more efficient in the way your work is being processed. That time can be used to help you grow your business and advise on ways to increase your tax savings.
The software helps to create a closer more trusted relationship with your accountant. Xero and QuickBooks both allow the client and accountant to access the data at the same time, you can see the work that the accountant is doing for you and you can see exactly the information that is included in your accounts.
If you are looking for an online accountant you should look for one that supports the major online software such as Xero, QuickBooks and Freeagent. The accountant should support you in setting the software up and give you training how to use it or manage the software for you.
The accountant should also advise if any supplementary apps would be of use to you in your business and how you can integrate those into your bookkeeping software.
The software should be there to support you in your journey to be a successful business, it should give you the information that you need and help your accountant deliver these services to you. It is the use of the software and the interpretation of the data that is key in being an online accountant and the leveraging of the technology to give you a better service.