What are the Benefits of Appointing an Online Accountant?

When you start out in self-employment one of the most important decisions you can make to increase your chances of success is to appoint an accountant. Their support and guidance is an invaluable tool to help your business grow and flourish, but there is a lot of choice out there and the picture is very different to how it was 5 or 10 years ago.

The accounting industry has been generally viewed as a very traditional sector but the landscape has changed over time with online accountants emerging to challenge the traditional accounting status quo and offer a different proposition for business owners and the self-employed.

So you will be faced with a choice when looking for an accountant; to appoint a traditional, probably local, accountant or an online accountant such as ourselves. Both types of accountant will of course endeavour to manage your business finances and tax affairs accurately and efficiently but there are key differences between the propositions from these different types of accountant.

Read on as we examine the many benefits of appointing an online accountant, how online accountants are reshaping the way small businesses operate and how Gorilla Accounting can help you.

Convenience and Flexibility

The accessibility, convenience and flexibility online accountants offer can’t be matched by a traditional accountant. Some traditional accountants can favour face-to-face interaction with their clients which means you’ll have to arrange a mutually convenient time and travel to the appointment all of which can put a drain on your time.

By contrast, online accountants offer a better level of support and are contactable via video call, email, direct dial and face to face if that is your preference. This means that geographical barriers are taken out of the equation and meetings can be conducted with minimal disruption to you and queries can be addressed quickly through your favoured means of communication.

With Gorilla, you’re guaranteed a same day response to your queries thanks to our Client Service Guarantee as well as unlimited support and advice from your own dedicated accountant.

Value for Money

Something all small business owners are conscious of is keeping a handle on costs, especially in the current economic climate.

The online accountant business model is more cost-effective which enables small business owners to pay less and get a better service, meaning more retained earnings! Our fees are great value, fixed and transparent so you won’t get any nasty surprises and will know exactly where you stand.

Technology-Focused Accounting

Online accountants embrace the latest accounting software technology and Gorilla Accounting, as FreeAgent Platinum Partners, are at the forefront of this. We are strong advocates of the benefits of accounting software for both our clients and ourselves, and this is why we provide award-winning FreeAgent cloud accounting software free of charge to all our clients inclusive in our great value accounting packages.

Technology is a key driver behind the success of online accountants and using FreeAgent ensures you’re at the cutting edge of this and gives you a competitive advantage over rivals that are using traditional accounting methods.

Online accountants leverage accounting software to maximise the benefit for you. One of the many benefits is real-time financial reporting. Delays associated with traditional accounting methods aren’t an issue and you get an at-a-glance view of the current financial state of your business in real-time which enables decisions to be made quickly based on accurate and up-to-date financial metrics.

The Benefits of Collaboration

Online accountants will always maximise the benefits of online accounting software for you, and a key component of this is collaboration. Your dedicated accountant at Gorilla will have access to your accounts in FreeAgent which is a huge time-saver for you both. You also won’t have to waste time and money posting documentation to your accountant as they will be able to access it digitally in FreeAgent once you’ve uploaded it.

This level of collaboration plays a huge part in the successful financial management of your business fostering a transparent view of your business finances in real time. It also frees up more time for your accountant to provide you tailored financial advice such as how to improve your tax-efficiency to help increase take home pay and grow your business

Spend Less Time on Admin

Time can be in short supply when you’re self-employed and an online accountant can massively ease the pressure in this respect. Due to their focus on technology, you can reap the benefits of cloud accounting software to dramatically reduce the time spent on admin.

FreeAgent has comprehensive inbuilt automation including automated bank feeds and reconciliation. This all frees up more of your time to focus on core activities, strategic planning and business growth and an increase in overall productivity. Automation also negates the chances of human error which reduces the risk of HMRC investigations and penalties.

Reduced Carbon Footprint

By focusing on digital rather than face-to-face communication, the online accounting model contributes towards environmental sustainability. There’s no need to travel to speak with your accountant which reduces emissions, not to mention the associated costs such as fuel and parking to make the trip to see them.

The focus on digital document storage also reduces the reliance on paper records, as well as the physical storage required to transport and archive it, which all contributes to an eco-friendlier approach.

Working with Gorilla Accounting

The reasons to appoint an online accountant rather than a traditional accountant are compelling. Their responsiveness, flexibility, focus on leveraging the latest technology, scalability and value for money mean they are an obvious choice for small businesses and the self-employed.

Whether you operate through your own limited company or as a sole trader, Gorilla has an accountancy package tailored for you. Our accountancy packages ensure that all your business and personal accounting needs are expertly handled, easing the pressure to give you the work/life balance needed to run a successful business. We know that every self-employed business is unique, so although our accounting packages are all-inclusive, your service will be personalised and tailored to you.

Appointing the right online accountant will save you time, money and stress. Your own dedicated accountant at Gorilla will help you successfully navigate the complex landscape of accounting, taxes and day to day finances giving you the space to focus on core business activities while we handle your accounts. Our service includes unlimited support and advice including how to structure your income to maximise tax-efficiency and claiming allowable expenses so you can keep more of your earnings.

If you have any queries about our online accounting service or FreeAgent, speak to an accountant today on 0330 024 0406 or request a callback here.