| One of the main causes of frustration for | | | | format. Of course this applies to traditional |
| accountants is the inconsistency of clients’ | | | | software, however with SaaS systems you have |
| records. This can vary from a shoe box brimming | | | | instant access to the records. You don’t have |
| with receipts to an incomplete set of records on | | | | to chase the client as the information is there for |
| an out-of-date version of Sage. | | | | you at any time. |
| However they all need to be dealt with and this | | | | Also, you would also be able to adjust the |
| can cause problems. First of all, you may become | | | | records during the year which has clear benefits. |
| frustrated by the amount of time needed to bring | | | | Your client's records could be adjusted mid-period, |
| the records into good order, which can place a | | | | rather than after the year end has been closed, |
| strain on your internal operations. | | | | This has an effect on the time needed to process |
| Secondly, and perhaps more importantly, if you | | | | your client’s accounts. Major time savings |
| have to take more time to do a job than | | | | have been reported. |
| envisaged you must choose your course of | | | | Imagine if… |
| action. Do you just bite the bullet and complete | | | | • Your clients' accounts were available to you |
| the accounts for the agreed fee or and do the | | | | without having to chase them up; • They |
| work and bill by the hour? | | | | came in a standardised format; • With the |
| Increasing your fees is not in itself a bad thing of | | | | majority of the records completed fully and |
| course, but the knock-on effect could damage | | | | accurately. |
| your business. If clients think they are being | | | | In your office you would be free to perform the |
| overcharged you could lose them. | | | | accountancy process without the usual |
| This is the crux of the problem. The way your | | | | time-inefficient process of obtaining and correcting |
| clients keep their records can affect your | | | | the records. |
| retention levels. | | | | Imagine if, on top of all this, you and your clients |
| The solution | | | | were using a constantly evolving system that |
| The solution is, effectively, to help your clients | | | | required no effort for you to have the very |
| help you. This in turn allows you to meet their | | | | latest version. This would mean you could get the |
| expectations better and not be forced into | | | | benefit of any new time saving features instantly. |
| increasing fees to compensate for their poor | | | | This technology sometimes sounds too good to |
| records. | | | | be true, but it is here, and it will become more |
| Creating a series of standardised record books | | | | and more widespread. |
| would do this to a certain extent. It would be | | | | Summary |
| easy to put in place, and your clients could be | | | | In conclusion, computing technology is being |
| trained to record transactions more routinely. | | | | directed more and more towards business, with |
| However, apart from being somewhat | | | | the underlying aim of improving financial |
| old-fashioned, this would still need to be inputted | | | | performance. |
| onto your computer system at some stage, | | | | As part of this evolution, accounting software |
| taking more time and incurring costs. | | | | nowadays is almost universally used by practicing |
| It would be far better to have all the data in a | | | | accountants. It is only recently though that |
| computerised format, where it could be | | | | accountants have started to realise the benefit |
| transferred to your internal systems more easily | | | | that can arise from their clients also using good |
| and this is where accounting software is invaluable. | | | | quality bookkeeping or accounting software. The |
| It is easy to implement, and you are almost | | | | standardised records produced this way can help |
| guaranteed to get the information in a standard | | | | save time in the accountant's office and also help |
| format. Many software houses, including Sage and | | | | the client feel a better service is being offered. |
| Quickbooks, already offer solutions but the | | | | Previously it required a great amount of effort to |
| programs can be complex and have to be | | | | encourage use of software even before the |
| installed on each client’s computer. | | | | daunting task of learning how to operate it. |
| Recently though, software has been developed | | | | Assuming these obstacles could be dealt with, |
| that uses the latest web-based technologies to | | | | other procedural problems, such as how to get |
| streamline the process. Known as ‘Software | | | | records from clients to accountants, meant |
| As A Service’ (SaaS), this sits on a | | | | operating the proc was never the easiest of |
| webserver, and is accessed via a standard web | | | | tasks. |
| browser. | | | | With the advent of web-based accounting |
| A number of companies have recognised that this | | | | systems using the SaaS model, such problems |
| technology can be much easier for clients to use | | | | have been overcome, leaving the accountant free |
| than traditional accounting software. There is no | | | | to enjoy the advantages, without any of the |
| need for installation and, as you are always using | | | | difficulties. |
| the latest version, you do not need to “run | | | | The latest online accounting packages, such as |
| and update” to fix bugs or get the latest | | | | Arithmo ( have been designed with the user in |
| features. | | | | mind. They provide an easy yet efficient way for |
| As an accountant though there are other benefits | | | | the non-expert to record business finances |
| that could improve your customer service and | | | | accurately. |
| perhaps your bottom line. | | | | At the same time though they provide major |
| The main advantage is that, potentially, all your | | | | benefits to their accountants by way of increased |
| clients will send you their records in a standard | | | | efficiency and customer care. |