We can start by introducing efficiencies to our processes. Self assessment is almost here. If we can complete compliance work more efficiently, we can finish jobs in less time and pass some or all of those savings on to our clients. This could be achieved by introducing software that helps us produce accounts and tax returns with less effort.
This is all very well, but the efficiency gains will rely on good bookkeeping at the start of the job.
If only every business came with well maintained books...
We can save ourselves and our small clients time and money by helping them choose the right bookkeeping software for their business. For example, self-employed clients can almost automatically maintain their accounting records with a two-in-one business account and accounting software.
The dual-functioning app helps small businesses keep on top of their bookkeeping admin, offering a live insight into cash flow, automatic expense categorisation, and tax estimates so that they are aware how much to set aside ahead of self sssessment. The app also nudges clients to snap receipts as soon as they make a transaction - to encourage healthy bookkeeping habits.
The relatively new and innovative offering of an accounting software and business account in one product means that for once, all of your client’s bookkeeping data is in one place. It removes dependency on bank feeds, and you’ll no longer need to waste time chasing clients for missing information or re-authorisation of bank feeds. The accompanying free accounting software enables you to access this data in real time.
Accountants are also saving time on manual input tasks with the software’s trial balance, profit and loss reports that update when new transactions happen, and automated bookkeeping.
Real time, accurate data gives business owners greater visibility to manage their business better. This will help them to grow into healthier, more profitable clients.
At the same time, accurate and up to date digital record keeping from your smaller clients will make January – and upcoming MTD quarterly filings – a breeze. Even better, you can use the extra time savings to focus on growth and new revenue opportunities.
Find out how to improve your profit margins and client satisfaction with Countingup, the free software designed for practices with small clients.
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