Nowadays, just about every business office process can be completed using online tools. Online accounting is one such a function that has made life easier for small- to medium-sized businesses. The good news is that we have an online accounting system for you – The Tax Shop offers solutions to make it as easy as possible for clients to keep their accounting up to date and accurate.
Understandably, you may not yet be comfortable using an online accounting system, because you may have concerns about security risks. Fortunately, the system that The Tax Shop offers clients is exceptionally secure and comes with access control systems.
How it Works
To understand the benefits, we first need to look at the way online accounting works. It is basically a system that is accessible via internet connectivity. With the system you are able to perform your bookkeeping and accounting functions from your company’s office without having to visit our offices. Simply login to the secure site where your accounting records are securely stored. The Tax Shop can also log in and documents can be shared, transactions discussed and information shared in real-time. The above is all done while you are at your computer at your office and the tax or accounting consultant is located at The Tax Shop. It saves you time and money, while improving interaction with your accountant.
How the System Benefits Your Company
With the online system there is no guessing when it comes to financial decision-making. Your information can be kept up to date and if you need to get assistance from an accountant, then it is possible for the accountant from The Tax Shop to login and review the information. With the information always up to date and always available, you can make quicker financial decisions, translating into the ability to take hold of business opportunities when presented, because you have the information at hand for decision-making.
With such, you can focus on business at hand because of time savings. The repetitive tasks and complicated calculations are handled for you. This means you don’t have to micro-manage the bookkeeping and accounting functions. Online storage also means having the information available from wherever you need it. Secure backups help to minimise the risk of data loss.
The process of accounting and bookkeeping has become cheaper, because of the availability of online solutions. With the process being paperless you save on filing time, storage and printing, as well as the costs of consumables. All these eat into profits if left unchecked. Of course, the system also reduces the time that the accountants have to work on the account, which in turn, means lower monthly accountancy fees for your business.
Add to the above, the benefit of having 24 hours a day access to the information and it becomes clear why an online accounting system can benefit your company. You are not restricted to business hours to access information and because it is a paperless system, which enables quick finding of information and generation of reports, you don’t have to go through countless files or spreadsheets to get an overview for the purpose of reporting and business decision-making. Not having to store thousands of documents in boxes for a prolonged period certainly helps to free up storage space. Plus, the risk of damage to documents is minimised.
With the above comes a further benefit – that of not needing a large and expensive server for backups. Just maintaining such a server, improving its security, and administering access can be expensive.
User-friendliness of the system is also something to consider. With quick access and no need for extensive training in using the solution, you save on training costs. All relevant employees can use the system, which helps to centralise accounting. Technical support is available and where mistakes must be rectified, the accountant can login and make the necessary corrections.
If you are thus looking for an efficient way to reduce the time it takes to do daily, weekly and monthly bookkeeping and accounting, reduce the costs associated with such and improve on accuracy – then we have an online accounting system that will work for you.