October 21, 2020
Accountants are like regular people. They too at one point of time might feel the itch to leave hitting them. However, when your accountant does choose to leave it should not be more than a minor inconvenience to you. Granted that getting a new person tuned in to your business and its accounts will not be an easy thing. But if your accountant leaves you in the lurch, it is better to see the silver lining than the clouds that signal a storm is brewing. For instance, now might be the perfect time to consider an outsourced accountant.
Many employers are hung up on the image of the traditional accountant with their files and other such equipment of the trade. Outsourcing might seem a comparatively modern approach but it isn’t as if it is not an already tried and tested one. Though many business owners might feel more reassured upon seeing someone physically putting in the ‘actual’ hours, considering the global scenario at present, having someone who's an expert doing this work for you on the cloud can prove as beneficial or even more. When looking up someone to do your accountants you can also check VAT outsourcing for accountants or similar payroll and workplace pension providers.
For instance, instead of depending on the whims and fancy of one individual if you instead have a virtual accountant you’ve got an established professional with a fixed fee structure at your beck and call. In the long run, this obviously would prove to be more beneficial. Any accountancy bureau would have sufficient accountants to look after your work irrespective if someone chooses to leave, for instance. Having someone who is a professional and dedicated to looking after your accounts is a real plus point as in cases such as the pandemic that struck recently, professionals would be better equipped to handle such enormous changes as shifting the workplace home.
VAT outsourcing for accountants is as possible as getting your payroll done. Especially with the introduction of MTD, VAT has taken an all-new turn. Many a time, businesses find that even if they try paying less VAT by declaring fewer sales and more on expenses then ultimately at the end of the accounting year they do have to pay up. If you do choose to go for outsourcing, you need not worry about communication though as with the video conferencing apps out there it would all seems as good as talking face to face. Thus, your accountant leaving should not be hailed as a crisis. You can easily get a replacement that will be happy enough to get a hang of your work style.
When going for an outsource accountant you will find that the cost also diminishes as compared to having someone doing the accounts full time for you. Many people who eventually begin to prefer outsourcing over the traditional model do point out that it is more like having your cake with the icing and eating it too. It is more cost-effective as well as business savvy because you have a professional who is accountable for the fees that they raise ultimately. Also, you are only billed as per the hours for the job and that too at a fixed rate. Furthermore, you need not worry about sudden demands for a hike.
Virtual accountants will soon put the traditional method to rest as not only is it easier for employers but also, since mostly all communication takes place over email, things being in written form are more effective, especially in cases of audits and such like.