Gone are the days when you need to pass your accountant boxes of receipts stapled to piles of expenses forms, along with a spreadsheet listing your income and expenditure at the end of your financial year. This can take up far too much of your business’ time and effort, and doesn’t add value.
Computerised accounting software is key to streamlining your business – it can save your company time and money. Cloud accounting gives business owners the ability to get a real-time view of their cashflow and manage their finances, anytime, anywhere.
If you want your business to work smarter and faster, cloud accounting software like Xero is a wise investment. Working in the cloud will give you a better overview of your finances, however it will also improve collaboration with your accountant and financial business advisers.
In days where we are seeing roles replaced by computers, is it really necessary to have an accountant and not just accounting software? Remember, your accounting software is only as good as the information you enter. Hiring an accountant should not be considered a luxury. It is a business decision that can bring considerable returns.
Our job as your accountant is not simply to ensure your business stays compliant with all the legislative requirements and submit paperwork to HMRC, whether this may be by means of a self-assessment, year end accounts, or auto enrolment declaration. There are regular changes in legislation affecting companies, putting more and more responsibilities on directors and owners. Accountants understand many different aspects of tax laws and we can advise you on making decisions which can help your business, ensuring you pay no more tax than you should. Using your cloud accounting software and with access to real time data, benchmarks and industry records, we can work with you and provide strategic advice on areas such as profitability, pricing and capital efficiency, to help you make informed decisions about the future of your business.