Director of Accounting Partners UK & EMEA Xero
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International Accounting Day: Celebrating the key workers of the UK’s small business economic recovery

This year more than ever, accountants and bookkeepers have been challenged to the extreme. They have played a huge role in supporting their small business clients as they’ve had to adapt to survive. Accountants have proven again that they aren’t just number-crunchers, but essential business partners.

9th Nov 2020
Director of Accounting Partners UK & EMEA Xero
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International Accounting Day
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They are the unsung heroes of our ongoing recovery, and that’s why I think it’s even more appropriate that we take a step back and acknowledge them on this important day. Our research shows just how vital they’ve been, with 43% of small business owners saying that their accountant has been crucial to their pandemic survival.

Almost half of small businesses said their accountant is more important to their business than ever before, while 58% named them as their most trusted business advisor. I’m not surprised by these responses as this is not something new. I’ve seen how many of our accounting and bookkeeping partners have gone above and beyond to guide their clients through everything from cash flow management to business continuity planning.

To show the admiration businesses have for their trusted advisor on this special day, we asked a few businesses to tell us what they think:

Darryl Swift, CEO of small business Impact Research: “Our accountant has been crucial to us, helping us make quick decisions on what to do next as a business. Thanks to them, we have been able to plan for various scenarios. The pandemic has meant that we now have a closer relationship than ever, and they’re really embedded in our business.”

Lara Sheldrake, Founder of Found & Flourish: “In the last twelve months I’ve made some huge investments into the business so that I can be the best business leader possible. One of the investments was hiring an accountant, who has been amazing this last year. During lockdown, she updated me regularly, informed me of any new government updates or grants I needed to know about and always made herself available for questions or queries.”

John Stone, Owner of Stone Tyres: “At the start of the pandemic I worked closely with my accountant to look at how we can streamline and digitise some of our processes - freeing me up to focus on running the business. Although it felt daunting at first, we now file all of our VAT returns digitally which saves us so much time every quarter.”

On behalf of everyone at Xero, I wanted to say a big thank you to accountants and bookkeepers. We know the job isn’t over yet and there are challenges ahead, but it’s incredible to see just how adaptable and resilient the industry has been during this difficult year.

If your accountant or bookkeeper has made a difference to your business - especially this year - today is a good opportunity to thank them. We’d love to hear your stories - just use the hashtag #InternationalAccountantsDay.

If you’re an accountant or bookkeeper in practice, sign up to the Xero partner programme and get the tools, resources and dedicated account management to help get your practice and clients set up for success. Visit here to get started.

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By Paul Crowley
09th Nov 2020 18:35

All I will be concerned about is the final rules on JRS version 3.5

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