According to the nonprofit organization SCORE, a full 40% of small business owners feel that bookkeeping and taxes are the worst part of owning a business. Small business owners spend, on the average, 41 hours or more on tax preparation each year.
Many small businesses hire CPAs to keep their books or prepare their taxes. With current advances in technology, though, accounting firms can offer business owners much more than just tax preparation. Technology is changing the accounting world in ways that can save small business owners both time and money, enabling them to better focus on running their business.
Accounting firms have made enormous advancement in using technology to integrate workflow. Rather than checking out files, accountants can now access centralized data stored on servers and work on shared books. Auditors and managers, who may be in different locations, also have access to those accounting records.
Technology has also allowed accounting firms to integrate all kinds of software. Increasingly, software vendors are developing special tools that allow information to flow out of their applications more freely and be joined with other applications. This makes it easier for accountants to provide data to marketing and business development professionals.
All this integration not only creates a better workflow, but it’s good for security, too. Data no longer lives on standalone computers, and there’s far less likelihood of data being hacked if a laptop becomes lost or stolen.
Enhancing the Client Experience
Technology can also enhance the client experience. Small business owners who engage accounting firms can now rely on better communication, including updates on work in progress. They can also take advantage of a number of value-added services that create an environment for more efficient accounting and bookkeeping processes. Oftentimes, businesses can pass along some of those efficiencies to their customers.
The 1-800Accountant Advantage
1-800Accountant, a virtual accounting firm merging the convenience of technology with live support from real professionals, stays ahead of the technology curve in a number of important ways. Here’s how your small business can benefit from our attention to technology advances:
- Our accounting platform takes advantage of all the benefits of a cloud-based small business bookkeeping solution and combines it with a dedicated bookkeeper to help you every step of the way.
- Using the most up-to-date technology, you can access your books anytime, anywhere and on any device.
- We allow you to easily sync your bank accounts.
- It’s simple to categorize transactions the moment they appear in your account.
- You’re able to upload receipts, invoices and other important documents from your phone or by taking a photo in the app.
- You can create and download business-critical reports, such as balance sheets and income statements, all from the convenience of your home office.
Schedule your consultation with America’s leading small business accounting firm today.