For those of us that hire an accountant, whether we run a small business or are sole traders, accounting services can often be the difference between a successful financial year and a damp squib. The whole purpose of hiring an accountant is of course to save time, to increase productivity, and to save money by getting the most economical tax return. It seems odd then that so many people have a draconian attitude towards accounting where it has to be done with a mountain of paperwork transferred between yourself and your local firm.

Online accounting has been around a while but has only started to become popular recently. In a world where most businesses have moved online this slow uptake for online accounting seems strange; especially considering the advantages it has over traditional methods.

Location

If you deal with your accountant online you have automatically increased the range of accountants you can use. Most accountants that offer online accounting offer nationwide coverage, regardless of the size of the firm. This gives any small business owner a plethora of firms to choose from ensuring they get the best deal.

A lot of accountants will have offers for new clients, half price for the first year or free incorporation of a company for example, so having this vast number to choose from will ensure that you can save year on year.

Price

As mentioned above, you can get the best price by having a large market to choose from but online accounting is cheaper in general than traditional paper accounting anyway. Accountants save time and money by having you transfer your accounts electronically and they can pass these savings on to you.

Speed

This one is self-explanatory. Email will always be quicker than the post. Not only that, email is 24/7; if you have a pressing issue that strikes you at 2am you can send it to your accountant in an email and get a reply when their office opens the next morning.

One of the major issues people have with their accountants is a lack of communication but the more you share with your accountant the more effective their service can be.

Efficiency

Along with the obvious advantage of email, online accounting services also mean you can have live webchats with your accountant. Webchats allow you to iron out any problems or share information in real-time. This is better than simply phoning your accountant as you will be able to file share with them during online chats.

Environmentally Sound

With a lack of paper work comes a lack of forms, printer ink, stamps, envelopes and a myriad of other stationary; all of which has a carbon footprint. By accounting online you are not only saving money but doing your own bit to help the environment too.