A Contractor that wants more! Give me an online Accountancy!
Discussion
Is it me or are Accountants still in the dark ages? Mine only got a computer a few years ago and I would have thought they'd be first to embrace technology for number crunching!
I started to look around for options for an online Accountancy and they are very thin on the ground. I've just registered my interest at this website :
www.inniaccounts.co.uk
Straight away it appeals to me and surely going down this route has got to be worth a look? All admin handled online, live snapshot of business finances so you can see how rich (or poor) you are, no more back and forth of info to the accountant plus, I probably wont miss a VAT or PAYE cheque again! I like the idea of having real paylsip and dividend slips which I'm sure everyone is doing anyway!!
Lot to gain and little to loose in my mind ...... what are your thoughts?
I started to look around for options for an online Accountancy and they are very thin on the ground. I've just registered my interest at this website :
www.inniaccounts.co.uk
Straight away it appeals to me and surely going down this route has got to be worth a look? All admin handled online, live snapshot of business finances so you can see how rich (or poor) you are, no more back and forth of info to the accountant plus, I probably wont miss a VAT or PAYE cheque again! I like the idea of having real paylsip and dividend slips which I'm sure everyone is doing anyway!!
Lot to gain and little to loose in my mind ...... what are your thoughts?
yer I know what you mean ... the proof is in the use (lets hope for a demo soon). Hopefully you can take your existing business to them rather than setting up with a clean sheet.
I reckon the time to transfer or join would be recovered pretty quickly if all the admin, quarterly stuff etc can be done online
fingers crossed!
I reckon the time to transfer or join would be recovered pretty quickly if all the admin, quarterly stuff etc can be done online
fingers crossed!
Eric .... impressive number of posts!!
I understand what you mean and you've obviously had a lot of hands on experience of this!
I think where I'm coming from is that as a Contractor the admin element of the business has room for improvement plus I'd like to know a bit more about my businesses finances. I not looking for miracles in terms of everything being paid and authenticated online but it is a nice thought to think that with this type of setup I could have an easier life. If I was told by such a system how to fill out my VAT form I'd complete and sign it without having to go through my accountant. Bad example cos I know the VAT is easy!
The other thing I like is that this service appears to be focused on Contractors ..... a tailor made product will inherently have real benefits rather than a generic, fit all solution that would confuse the hell out of me!
Anything for an easier life!!
I understand what you mean and you've obviously had a lot of hands on experience of this!
I think where I'm coming from is that as a Contractor the admin element of the business has room for improvement plus I'd like to know a bit more about my businesses finances. I not looking for miracles in terms of everything being paid and authenticated online but it is a nice thought to think that with this type of setup I could have an easier life. If I was told by such a system how to fill out my VAT form I'd complete and sign it without having to go through my accountant. Bad example cos I know the VAT is easy!
The other thing I like is that this service appears to be focused on Contractors ..... a tailor made product will inherently have real benefits rather than a generic, fit all solution that would confuse the hell out of me!
Anything for an easier life!!
Edited by square-eyes on Wednesday 20th February 22:56
I'm sure that vat be it flat rate or not has its challenges but not for me personally. I'm sure it is just as easy for the vast majority of other contractors and freelancers.
What I'm seeing with the service offered at the beginning of this thread is something that is focused on contractors needs and I don't think we are that difficult in terms of accounting. All I'm after and the purpose of the thread is a better service and this may or may not be it!
I also trust that the service offered has accountants behind the scenes that know what they are on about!
What I'm seeing with the service offered at the beginning of this thread is something that is focused on contractors needs and I don't think we are that difficult in terms of accounting. All I'm after and the purpose of the thread is a better service and this may or may not be it!
I also trust that the service offered has accountants behind the scenes that know what they are on about!
john_p said:
I think this a great idea. I assume you mean more an online "bookkeeper" ?
So plug in your invoice details, records are kept for you, then monthly reports can be generated and VAT amounts run etc. At the end of the year your info is all easily sent to your accountant.
You could put in some basic forecasting, to keep on top of of tax and dividend amounts..
Obviously it couldn't be massively complicated, but compared to most small ltd companies, contractor accounts are pretty simple.
The website appear to give an insight into what the service will offer and it seems to cover everything, invoices, payroll, dividends, expenses, bookkeeping, tax, accounts etc etc etcSo plug in your invoice details, records are kept for you, then monthly reports can be generated and VAT amounts run etc. At the end of the year your info is all easily sent to your accountant.
You could put in some basic forecasting, to keep on top of of tax and dividend amounts..
Obviously it couldn't be massively complicated, but compared to most small ltd companies, contractor accounts are pretty simple.
I know what people mean that things are easy enough with a traditional accountant but I reckon it could be a whole lot easier and reckon there are loads of other benefits to online services like this.
Glad to hear from a contractor and not just accountants who just criticize such services. It is almost as if they feel threatened by this new breed of accountants!
I am convinced that this type of service has a lot of mileage and if they do provide the service that traditional accountants provide but in a more efficient manner then it is worth a look.
I will almost certainly make the move at the end of this financial year.
Thanks for the link.
I am convinced that this type of service has a lot of mileage and if they do provide the service that traditional accountants provide but in a more efficient manner then it is worth a look.
I will almost certainly make the move at the end of this financial year.
Thanks for the link.
I'm only going on what I've seen on their website so far.
What appeals is that everything is in one place so no more moving info back and forth to the accountant via email, no more spreadsheets of invoices, expenses, etc, proper records such as payslips & dividend slips, bookkeeping online. To me this would tidy things up nicely. What appeals a lot is the dividend manager - ok you can't tell for sure what it does from the site but it seems to show a live overview of the businesses finances which is a great concept in my mind.
As for the big X on the calendar and the slap, I'm more than happy to punish myself if I screw up but again, everything in one place just removes some of the hassle of ltd company.
Life is just too busy and I've been limited for over 7 years and frankly it is a pain in the backside. I'd love the convenience of an Umbrella but with the benefits of limited and this seems like a half way house.
Do you really have a shoebox full each month?!
What appeals is that everything is in one place so no more moving info back and forth to the accountant via email, no more spreadsheets of invoices, expenses, etc, proper records such as payslips & dividend slips, bookkeeping online. To me this would tidy things up nicely. What appeals a lot is the dividend manager - ok you can't tell for sure what it does from the site but it seems to show a live overview of the businesses finances which is a great concept in my mind.
As for the big X on the calendar and the slap, I'm more than happy to punish myself if I screw up but again, everything in one place just removes some of the hassle of ltd company.
Life is just too busy and I've been limited for over 7 years and frankly it is a pain in the backside. I'd love the convenience of an Umbrella but with the benefits of limited and this seems like a half way house.
Do you really have a shoebox full each month?!
I've lost count!
Why can't an online service not provide the personal touch? They are probably established accountants branching into something new so probably no different.
Personal touch is never meeting your accountant but having long chats on the phone? I don't want to meet these people but I'm sure these guys would love to chat!
Do contractors rank the personal touch high on the list of priorities for choosing an accountant? A quality and useful service in a language that makes sense is top of my list.
Do the tens of thousands that used MSCs and use Umbrella services worry about the personal touch?
Why can't an online service not provide the personal touch? They are probably established accountants branching into something new so probably no different.
Personal touch is never meeting your accountant but having long chats on the phone? I don't want to meet these people but I'm sure these guys would love to chat!
Do contractors rank the personal touch high on the list of priorities for choosing an accountant? A quality and useful service in a language that makes sense is top of my list.
Do the tens of thousands that used MSCs and use Umbrella services worry about the personal touch?
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