You may notice that a lot of accountants are adding ‘digital accounting’ to their list of services in light of Making Tax Digital. You may also notice that they are offering digital accounting services at a low rate, but to us this is a red flag.
Some traditional accountants are moving clients from Sage to cloud accounting software, such as Xero. This is a positive change when Xero’s features are optimised, however, we have noticed that many accountants are simply transferring client data over to Xero and using it in the same way they used Sage, hence why prices are stagnant. What they are missing out on is the vast range of add-ons and features that Xero offers.
We customise the information held on Xero to suit your specific business needs and produce reports that add the most value to decision-making. Moreover, we don’t limit ourselves to Xero’s functions. We add-on apps that integrate with Xero to create a workflow that suits your operations.
For example, we take advantage of Optical Character Recognition (OCR) software that integrates with Xero, eliminating manual data entry for accountants, bookkeepers and small businesses. It automates the extraction and processing of bills, invoices, expenses and receipts and inputs them directly into Xero.
Xero also integrates with project management apps which offer a complete cloud-based solution to managing projects and jobs, perfect for clients who work on this basis.
The results is a matrix of information, flowing from one app to another, using the single data entry in various ways to provide you with all the information you need to make effective decisions.
Thus, transferring to a cloud-based accounting system is only worthwhile if you go beyond compliance and utilise the unique, value-adding features. So next time you see a low price for digital accounting services, consider if you are receiving the maximum output and not just a transfer of software packages.
Contact us to take advantage of all the benefits digital accounting services can provide:
Phone: 01292 388 031