Accountants aren’t just ‘Accountants’
We all have a pre-conceived notion about what makes an accountant an accountant. However, did you know that the role of accountants is changing… it’s just that not all accountants are keeping up. It is clear that the world is changing as a whole, new technologies and new concepts mean that the way we carry out our day to day lives needs to adapt to the times. This article follows the idea that the role of the accountant is changing and what this means for you.
The biggest changes to accountancy
It is clear that the biggest change to accountancy recently is the move to cloud accounting software. Rather than the traditional manual ledgers of old and postal submissions, we are finding more and more that we rely on the use of computers and digital software to carry out accounting tasks. We have had to adapt and develop the way that we think about the processes that we carry out day to day, often finding that new training is available to learn how to use all the fancy new bits of software available to us.
Also, we are finding that we have an increased reliance on apps that will help us make processes more streamlined. These apps can be as simple as our accounting packages in a more compact form, or various ‘bolt’ on products that will communicate directly with our accounting packages. Think about how often you use apps, whether it be for business or personally. Bet it’s quite a lot!
This is a good thing…
Don’t fret, as complex and scary as all this new technology sounds, it really is a good thing. There are many different software solutions available to us. At Fletcher Thompson we advise the majority of our clients to use QuickBooks. However, don’t let that be a limitation, we are trained in many other packages too!
Software packages can help you to carry out the majority of business tasks from invoicing to bank feed and reconciliation processes. Providers are also often updating what is available to their customers, by using cloud based software. This update is provided to you instantly and often at no extra cost.
It’s all about flexibility, efficiency and convenience, changing the way that you interact with your accountant and often reducing the time spent on accounting activities such as year-end accounts and VAT returns.
What does this mean for the role of the accountant?
So what does this mean for your accountant and your relationship with us? Good news, it means that we can help and advise you more than ever before. With all of this new software and technology, so many of the complex and difficult tasks that consume your time can be streamlined. This means that the role of the accountant can move further in to the role of business advisory.
As your accountant, we can provide you with more accurate and up to date information about your business. Many businesses benefit from acquiring information early, rather than waiting for the year-end accounts. How useful would it be to your business to see who owes you money as at any date, or if your accounting software notified you when you need to order more stock? This and much more can be available to you.
How does this help me and my business?
Constantly haunted by the mounds of paperwork on your desk? Need to analyse your business income and expenditure on a more regular basis? Need to manage credit terms and invoicing? Spend ages sorting employee expenses? Sounds like you could do with some business advisory assistance then!
Everyone is unique so we recommend that you contact us to see what systems can be put in place in order to best suit the needs of your business. However, it is first worth knowing what the needs of your business are and what can be done to assist you in the day to day running of the business. It is also worth thinking, is there anything that I wish my accountant would do for me but I have not been offered before? Chances are that we have the solution for you and there is nothing we like more than being able to offer practical advice and support for our clients.
If you are thinking of signing up to any new products or services, make sure that you speak to us first as there may well be further advise that we can provide as well as discounts on various services. If you haven’t already made the move to cloud accounting software, then maybe it’s time to start thinking about it. If you have already made the move, then perhaps it’s about time to consider whether you are using it to your full advantage.
Our friendly team is here to help and we really love to hear from you. Contact us for advice and see how we can help.