Zooconomics is an online accountancy firm. At the core of our online accountancy services is the cloud based accountancy software that we provide to our clients. Cloud-based accountancy software allows us to provide our clients with an efficient and affordable accountancy service.
Many tradition high street accountants don’t use cloud based accountancy software. Instead they will ask you to keep a record of transactions on a spreadsheet or on offline accountancy software. At the end of the year they will then either manually re-enter, or import, the information you have recorded onto their own offline software. In many cases they will then manually go through copies of your bank statements and invoices to check everything matches up. This system has a couple of big disadvantages. First of all it is slow, and as most high street accountants charge by the hour that means that it is expensive. Secondly because the accountant only tends to look at your figures at the end of the year it is hard to spot problems and they take longer to fix.
With our cloud based accountancy software you get a lot more functionality straight off the bat.
- You will be able to raise invoices from the software and email them directly to clients
- You can easily run reports to track who has paid you and who you need to pay
- Easily record expenses and purchases as you go along
- Quickly setup customer accounts so that you can track who your top customers are
- Your accounts software can be linked to your business bank account, saving you hours doing manual reconciliation
- You can instantly see your cashflow so you don’t overspend
Just as important as any of these features is that our accountants will also have access to your online accountancy software. This allows them to login and help you deal with any issues and also to check that you are entering information correctly.
Cloud-based accountancy software will save you money in a few different ways. Being able to track expenses and income more clearly will give you better control of cashflow but the biggest savings will come in your accountancy fees. Because our accounts team will be able to see what you are doing as you go along they can identify problems early and tell you if you are not claiming expenses or recording income properly. Even more importantly our accounts team will be able to use the figures you are entering into your software to directly prepare your end of year accounts. This means you are not paying an accountant by the hour to re-enter the figures into their software or to manually go through banks statements or invoices. By using our online accountancy service, built around our cloud based accountancy software, we find that Zooconomics customers are able to save hundreds, and in some cases, thousands in accountancy fees each year.