As a business owner, you’ll understand just how hectic life can be. Amongst the demands of managing your company, you may find that your financial and admin needs often take a backseat. If you haven’t considered it, hiring an accountant can help to ease the stresses involved with running your own company.
Do I need an accountant?
An accountant can offer a number of benefits: they can free you from hours spent crunching numbers, can help you save money thanks to their insight into tax planning opportunities and their suggestions on investment and future financial planning may even lead to a growth in your business.
If you choose to enlist the help of an accountant, you might notice that there are some differences between services on offer, between online accountants or traditional high-street firms.
Should I use an online or a high-street accountant?
High-street accountancy firms usually work with clients in their local areas, with communication being preferred over the phone, by email or, in days gone by, face to face.
As more of the services we rely on are becoming internet-based, it’s reasonable that so too will our accounting needs. Online accountants have been becoming increasingly popular in recent years as they offer their clients greater freedom and flexibility and greater channels of communication, such as live chat, which means that you can get in touch outside of the 9 to 5 hours.
How can an online accountant benefit you?
Here are just some of the ways an online accountant could benefit you:
A real-time overview of your business
Life moves quickly for business owners, so your accountant should be able to keep up. Whilst traditional bookkeeping offers a retrospective look at your finances, accounting online makes it possible to access your transactions in the present. This can help to provide a better understanding of where your business stands.
Greater automation of tasks
Online accountancy providers often incorporate access to accounting software which can ease some of the administration involved with tasks such as invoicing and payroll. It also means that you can keep track of and record your expenses more easily, saving you time.
Value for money
Unlike a traditional accountant, using an online service means you won’t be stung with any hidden fees, but instead will just pay a fixed fee. This can allow you to better budget your outgoings and means you won’t be paying for a service you don’t need.
Companies like SJD Accountancy offer the personal service of a high street accountant with the same swift service as you’d expect from an online accountant.
When you join SJD, you will be assigned a dedicated accountant who will take care of your finances. You will also be given access to SJD Online, a cloud-based portal, tailored to meet the needs of contractors and small business owners, where you can manage your invoices, access your business banking and track your expenses in real time.
