Online Accounting Services
CloudCo Accountancy Group
When small companies usually get started, they are strapped for money in their early days. Self-employed, limited companies, sole traders, and small business owners who are trying to grow a business, often find the push and pull factors of bookkeeping a drain on their time. For businesses like this, the streamlined optimisation of online accountancy services can be quite beneficial. But what exactly are online accountancy services?
Are you wondering what the differences between online accounting software and online accountants are? Do you prefer to work and interact remotely as opposed to face-to-face? If you answered yes to any of these, we will explain how all of this works and how we at CloudCo, can help implement the best service option for your business.
What Is an Online Accountant?
An online accountant uses internet technologies like your web browser and smartphone to help you perform business accounting functions. It replaces traditional software, spreadsheets, or manual paper-based accounting systems.
This service is largely based on your specific needs across your desired timeframes and requests. For example, online accountancy replaces the need for a full-time accountant, which allows you to piecemeal your financial needs according to your budget.
You could request tax or VAT return help, as needed bookkeeping, or help with something like companies house with no obligation to consistently find work for a hired accountant. One fixed monthly fee takes care of all your accountancy needs whenever you need it.
How Does an Online Accountancy Service Work?
Online accounting lets you see how your business is doing in real-time. You can see how much money you have across bank accounts and cards, what money is coming in and what money is going out.
This is your cash flow. This helps you make decisions quickly and address areas that need attention before it’s too late.
Before the world became completely digital, many businesses used to just fly blind, make decisions based on “gut instinct”, or only understand what was going on after the bookkeeper had been for their monthly visit.
With online accountancy, all of these concerns have now become part of history. Online accountants keep you constantly updated on every single financial aspect of your business with thorough reports, assessments, and suggestions to help overcome pitfalls or losses.
How are Online Accountants Different From Software Programs?
Software programs like Xero are the quintessential tools used by accountants either in-house or online.
These programs are also available for small businesses to use independently if the business is small enough to not warrant extensive and major financial oversight and reports.
But this is where a lot of confusion comes into focus, because many people commonly mix up the role of an actual online-based accountant or the use of a software program to handle all of a business’s finances.
Before Covid-19 and after, online accountants have been a convenient and fast-growing phenomenon that corresponds to the ease and quickness that simple online interactions can foster within the workforce.
This has also allowed the accountancy field to grow and evolve beyond the days of companies being forced to hire a full-time, in-house accountant no matter how big or small a business is.
So in summary, online accountants are not much different from a regular face-to-face accountant, and the popular accounting software programs are used by accountants just as they are used by self-employed workers or small business owners.
What Is Online Accounting Software?
Xero Online Accounting
What is included in our online accountant service?
How much do online accountants cost?
Generally, accountants charge on an hourly basis or at a per-service rate. As a small business owner looking to save on unneeded costs, you may hesitate to decide if you should hire an accountant. With all of the different business accounting software on the market, you might feel like accounting services are a cost you can definitely avoid.
However, even if you’re skilled at using your accounting platform, there could be valuable financial insights that your business is missing out on—that an accountant could provide. CloudCo offers you a faster and more affordable accounting service than a traditional high street accountant. Our accountants are available to you via chat, phone, and email.
Our all-inclusive accountancy packages will take care of all your business and personal taxation needs, so you never have to worry about receiving an unexpected tax bill again. Packages start from £95 + VAT per month. For more information please click here.
Why choose CloudCo Accountancy Group for your online accounting?
Cloudco is a modern, straightforward solution to your accounting needs specifically designed for contractors and small businesses. Our flexible accounting solutions and processes are continually developed to ensure the best possible service.
We have helped many businesses and investors to stay compliant with HMRC, build wealth and manage succession planning. We are proud to be part of the highly respected DNS group providing award winning accounting, tax planning and consulting services.
We have dedicated account managers for our clients, whom are directly contactable and directly reachable. Going beyond the statutory requirements your business may have, our services provide a platform for developing your ideas. Unlike other accounting companies, whom are software driven operating light touch, Cloudco Accounting Group provides you unrivalled advice and support, on request, thus fortifying your partnership with us.
Online Accounting FAQs
Can you hire an online accountant?
Do I need an accountant for my online business?
Do I need online accountancy services if I have Xero?
Do I need an accountant if I am self-employed?
Do I need an accountant if I use Quickbooks?
Like Xero, QuickBooks is a fantastic software program for bookkeeping. But it is still beneficial to also consult with an online accountant to ensure that all of your tax and financial obligations are met.