If you run an eCommerce business, you likely won’t have a lot of time on your hands to navigate the competitive online market and keep on top of your accounts at the same time. Working with an accountant can make your life a lot easier, as well as save you time and money in the long run.
Using an online accountant may be the perfect solution for your online business. Tech-savvy professionals outside of your organisation can offer the same top-quality services as an in-house accountant, and may cost your business a lot less.
Here’s why you should hire an online accountant for your online business.
What can an online accountant do for you?
For some businesses, hiring an in-house accountant may be the best course of action, as they will be focused entirely on you. Having a financial expert on the team may add value to your business as it grows, and you’ll have the opportunity to develop a strong working relationship with them by your side.
However, putting a qualified accountant on the payroll is an expense that most small businesses can’t afford – and it’s often unnecessary. An online accountant will cover many of the same responsibilities as an in-house professional, including:
- handling your statutory returns
- dealing with HMRC on your behalf
- ensuring you meet your tax obligations
- maintaining your books
- reducing your tax liabilities
- offering expert business advice
- drawing up business plans.
Your accountant may also be able to give you advice on growing your business, ensuring that you meet your greatest potential.
There are a lot of benefits to working with a professional outside of your organisation, but it’s a good idea to carefully consider your options before making your decision.
Reasons you should hire an online accountant
Save time and money
By outsourcing your accountancy needs to an online accountant, you’ll get access to professional expertise without having to go through the expensive and time-consuming hiring process.
Furthermore, they’ll be able to tailor their services to your unique business needs, ensuring you get the most out of your money.
Use the best technology
Thanks to the introduction of cloud accounting technology, it’s easier than ever to collaborate with your accountant remotely.
They can use their expertise to recommend the best cloud accounting software for your business and integrate it into your systems, ensuring you comply with your reporting obligations under new Making Tax Digital rules.
Once you’re all set up, you’ll be able to access the data from any device, whenever you need.
Enjoy increased flexibility
Because online accountants can charge different rates, you may be able to use their services for a set amount of time. This is great news for businesses that only need access to financial expertise for a particular project.
Working with an accountant year-round is usually more beneficial for your business in the long run, but hiring someone on an ad-hoc basis can be a good solution if money is tight.
Work with forward-thinking experts
Hiring professionals who understand what makes your business tick can be invaluable when it comes to taking on the unique challenges you face in the online marketplace.
As eCommerce accountants, we know what it takes to build a business brand online. We’ve been working with businesses like yours for years, helping them to navigate everything from meeting their tax obligations to tackling in-depth business planning.
We’ll work with you to identify new ways to improve your online business and offer expert business advice to help ensure you maximise your potential.
Get in touch with us today to find out how we can set your online business up for success.