Importance of Remote Accounting

Introduction to Remote Accounting?

You may not be aware of the term Remote Accounting. But now a days it is frequently being used in business. You may easily handle your accounts if you are far away from your account office. Remote Accounting is becoming increasingly popular among UK based businesses as it provides a number of advantages to the busy owner/director/partner.

The main advantage of Remote Accounting is of course cost. Every meeting that you have with your accountant goes onto the time sheet and is charged at the end of the year, t5hat chat over a cup of coffee could end up costing you a lot of money. Even the Accounting Firms that provide fixed fees always build in a cost for the personal meetings and the phone calls and letters that invariable arise during the year.

However there are many businesses out there that do not require this level of service, they are run efficiently by their owners and do not have tax complexities or massive year to year variations, indeed all these businesses require is their accounts prepared at the end of the year, their tax calculated correctly and the reassurance that their affairs have been dealt with in a professional manner.

This is where Remote Accounting is at its most useful. Remote Accounting provides all the benefits that the business requires but without any of the expensive extras that it does not require. So you can easily save not only your money but also time.

A typical Remote Accounting contract would be less than half the price of the same work being performed through a high street accountant. The business owner would mail (or email) his receipts and expenditure records every 1 or 3 months, maybe yearly if VAT is not involved. The Remote Accountant would then prepare the year end accounts, calculate the tax liability and write to the business owner advising them of the amount of tax due and when it should be paid, all tax returns would be made online by the Remote Accountant and the business owner left to concentrate on what they do best, run their business.

Now you ave many different ways to cater your business. You can easily do many jobs even on your mobile.