Online accounting is largely the same as regular accounting. Instead of meeting your accountant and bookkeeper in person, you’ll communicate with them via telephone, email or live chat.
How does online accounting work?
In the good-but-less-efficient-old-days, your accountant would usually be nearby. You could have the occasional meeting to discuss your needs, and hand over your documents and records.
With online accounting, you don’t need to find an accountant local to you. The online accountancy that you choose might have all of its accountants operating out of offices like we do at TAP, but you won’t actually have to go and visit them.
Instead, everything can be handled using digitally, like the phone, or the bookkeeping masterpiece that is our cloud-based accounting software. No more lugging stacks of receipts around for you, oh no.
What are the benefits of using an online accountant?
Better value for time and money
It’s easy to think of an online accountant as being… well, a bit remote. And geographically, you might be right, but that doesn’t mean that it’s a less personalised service. We assign each customer their own dedicated accountant just like a see-you-in-person accountant might, so you can get to know each other and work closely. All that’s different is the method of communication. Though to be honest, most ‘local’ practices tend to deal with clients remotely these days, but without the convenience of a digital infrastructure dedicated to that purpose.
There’s more choice
Choosing an online accountant enables you to use any firm, anywhere in the country, rather than having to settle for one close by. It’s especially appealing if you’re uninspired by the local choice.
You’ll probably pay less
Online accountancy firms typically offer much lower fees to their clients, and often allow customers to pay a monthly fee, rather than a big chunk each year. This is because they can effectively service an entire country from just one office, which doesn’t need to be based somewhere in the heart of an expensive city centre. It helps to keep overheads low, and those savings can be passed onto their clients.
They are more convenient
It’s simply more convenient to speak with an accountant online or over the phone than it is to travel across town to meet them. With the use of cloud accounting software, all your records are instantly accessible for both you and your accountant, too – so there’s less delay in the process as well.
Is hiring an online accountant right for you?
The decision as to whether or not you should use and online accountant depends entirely on your needs, and what you want from the accountant-client relationship. If you prefer face-to-face interactions and a local, drop-in service, traditional accounting might be best.
But, if you’re looking for more flexibility, choice, lower fees, and a more convenient way of managing your accounts, then using an online accountancy might be your go-to choice. It certainly is for plenty of businesses across the world.
Get started with an online accountant
If you would like to get started with an online accountant and bookkeeper, our professional experts can help.