Engaging an Online Accountant

Firstly, you can always meet the team at iHorizon face to face if you chose to do so. However we believe more and more companies and businesses do not have the time to spend attending different meetings.

When working with an accountant using cloud technology online you can expect the same high level of service as your traditional old style accounting firm but will get even more with iHorizon. Due to Covid-19 everyone is moving to the cloud and more traditional firms will need to embrace these changes to catch up.

Online accountants should be more accessible and offer more support. They are tech savy and leverage the new changes in technology to make clients lives easier by using this technology and advising on technology that may help their business.

Business owners can rest assured that online accountants can deliver when it comes to CRO or Revenue deadlines. This blog is designed to show you how using an online accountant can help your business gain better control, reduce costs and become more efficient.

How is an online accountant different to a traditional practice? In the first instance using an online accountant should not diminish the professionalism and quality of work compared to a traditional accountant.

If anything, these are the ways an online accountant can offer an improved service:

Clients want to be able to understand what they are paying for, what services are included in the price. We quote fees in line with the company’s turnover, the quality of their accounting records and number of cash transactions. This gives a great indication of the level of work involved and investment your business makes in its accounting function. Our fees are fixed so there are no surprises. We take the risk from clients for work overruns. You know the exact services you receive for your investment.

More business owners are taking to remote working. The ability to move around and adapt your work environment is a powerful tool and you want an accountancy service to match this. When you work with online accountants, you can access accounting software and cloud accounting solutions from anywhere. You can also connect to your accountants remotely. This means the practice aligns with the flexible way you do business. We ensure we give a greater response rate from our accountancy and tax teams – they are available online through phone, emails and Zoom/Skype etc.

All else being equal, Online Accountants provide more value for money than Traditional Accountants. Traditional Accountants are usually burdened by costly overheads such as rent. They charge more to cover their costs. Online Accountants do not need to spend as much on rent for physical office space. There is no need to have a fancy office to impress visitors. The need for staff is often reduced because procedures are more streamlined e.g. paperless office and automated data entry & processing. Online accountants invest in technology for their business and their client business.

Online Accountants generally offer fixed fee pricing whereas most Traditional Accountants still do not. Because Online Accountants have streamlined procedures they are able to confidently offer fixed fee pricing. They know that the likelihood of their processing costs blowing out is greatly reduced. you’re paying for a service, you’ll want to see the value in it from the outset and throughout the subscription period. When working with an online accountant, you should expect the same.

Many online firms use online tools, such as online workshops and webinars, with the aim to help businesses reach their goals and grow. Most will have blogs or guides to ensure your business has access to important information and resources

Paperless – if you are tired of keeping mountains of paperwork lying around the place then online accounting can help make that all but disappear. This gives you less clutter, keeps you in control and ensures you are compliant with good record keeping, just in case the authorities request information. Your online accountant should be there to support you in the transition to a paperless environment.

Client Portal – Clients get access on our website to a client portal to store, upload and download documents securely. You can keep all your tax and accounting records in one location.

Electronic Signatures – Digitally sign documents securely using public key infrastructure (PKI). Don’t waste valuable time on printing, sending, and waiting to receive signed paperwork. We provide an easy legally binding method to provide consent with the swipe of a finger or typed signature.

We recognise that some clients are happy with their current software and we will work with them to achieve the outcomes they want and will be there to help them transition to the cloud when they feel comfortable doing that.

We prefer using Xero Cloud based software and the many apps developed to serve every business needs. We have trained staff who are certified in Xero and can help you transition should you decide to.

If you’re worried about engaging an online accountant, talk to us. We love talking about how new technology will benefit your business and how we can take the stress out of any transitioning to new technology for you.

We still take care of your accounting and compliance like any traditional accountant, but we believe more efficiently and effectively.

Our difference is that we are digital firm and we’re here to help support your overall business set-up by working online.