It can be one of the most exciting times of your life. The thought that you will become your own boss and even some day, employ people to work for you. Whatever your trade, working in something you love is definitely key to a happier life!
So, when you finally take the plunge and decide you want to take control of your own future and start working for yourself, it’s likely your main focus will be creating the best product or service you can.
Therefore, unless you’ve been in this position before, your eagerness to shout about your business will consequentially result in other mundane questions remaining unanswered along the way.
Some of these mundane, but important, questions may include; how will the business be set up? What about taxes? How do I employee staff? How do I pay myself?
What’s your options?
There are two approaches you might want to take – the DIY approach of researching the information yourself or employing an accountant to give you the direction you need.
However, hiring an accountant is all well and good, but what if you are busy all day? When will you get chance to arrange an appointment, especially if they operate during office hours?
There is an alternative approach; consider using an online accountant.
But wait, surely an online accountancy service isn’t as good as one that has a physical location or where you can meet your accountant face to face? What about other issues (we hear these all the time!):
- You don’t have experienced, qualified accountants
- You will be passed from pillar to post
- You get a sub-standard service if you can’t meet your accountant
All of the above are, of course, incorrect.
An online accountant is not just about being ‘an alternative’ approach but is here to challenge traditional accountancy firms. Online accountancy providers usually set up with technology at its core and therefore can be more efficient, customer focussed and streamlined.
So why choose an online accountant?
It’s the same reason why you make payments from your online banking provider, purchase your toys or food from large online retailers. It’s all about making that chore, or necessity bearable and allowing you to do it from the comfort of your own home.
It’s the same with accountancy. As a business, you shouldn’t need to worry about taxes or submitting accounts and tax returns. An online accountant, just like a traditional accountant will do all this. However, what an online accountant brings into the mix is it’s focus on customer service and how it can make the service as streamlined and cost effective as possible.
So, as online accountants, we don’t accept the ‘concerns’ we hear from some in business. However, we do love hearing about all the good things business owners say about an online accounting service:
- ‘It’s great, I get my own dedicated accountant who I can email or phone’
- ‘All my reminders are automated and it’s a more user friendly service’
- ‘I love the online portal, its quick and easy to use and I can immediately view my businesses’ performance’
- My accountant replies back to me within a few hours, I’ve never experienced this previously’
- ‘Everything is just done, I don’t have to chase or even think about VAT returns now’
As you can see, when you start up a business, you want things done for you painlessly.
While an online accountant can effortlessly manage the compliance, such as calculating VAT and preparing tax returns, it’s the fact that they use technology to bring all the components together, whether it’s communication or bookkeeping, to ensure you get the best and most cost effective service.