What is online accounting?
\Online accounting, is the application of online and internet technologies to the business accounting function.
Traditionally accounting was done through standalone systems like excel or specialized bookkeeping software and considered a necessary evil by businesses. Online accounting systems, on the other hand, are typically designed with entrepreneurs in mind rather than accountants.
The main focus of online accountants is to provide the key people associated with business access to live financial information and thereby support informed decision-making. Therefore, they have the potential to change the way businesses operate by empowering business owners. An online accountant is there to support you in the same way a traditional account would if not more as they are generally more flexible and responsive due to their online nature.
Online accounting systems
Online accounting systems, such as Xero, are low-cost subscription-based services, payable monthly. The software company handles the setup, security and maintenance of the system, therefore online software tends to be cheaper and more reliable than desktop software. As a result, there is no costly installation, upgrades, exchange of data files, back-ups or disaster recovery for the average business owner to worry about.
What are the potential benefits of online accounting for my business?
1. Simultaneous multi-user access
2. Real-time updates to accounts
3. Automated bank feeds
4. Secure access from multiple devices – anytime, anywhere
5. Fixed monthly fee per company, not user
6. Free system upgrades
7. Live data back up
8. Extensive training and 24/7 support
9. Intuitive, reliable and user-friendly
10. Designed with business owners and not accountants in mind
Discuss How aperio Can Help You
If you want to talk through the concept and see if it is right for you please get in touch. We are here to help you make the right decisions for your business.
Just like any brick and mortar firm we take a modern approach to handle your accounting and compliance needs. Our digital-first approach helps strengthen your financial decision-making.
If you would like more detail on how online accounting software can help your business excel, you can contact us to book a free discovery call today. Or alternatively, call our Dublin office at 353 (0) 1 531 0303