Moving to and working with a Virtual Online Accountant

DSK Chartered Accountants – Online Accountants Ireland

Are you thinking about moving to DSK Chartered Accountants and using an online virtual accountant for your accounting needs?

Here is what you can expect when working with a virtual or online accountant.

Since the onset of the Covid-19 pandemic, many accounting firms have transitioned to providing more online services. We at DSK have decided to move our entire service line fully online and move away from the bricks and mortar approach that traditional accounting firms historically adopted.

For any business owner one of the main reasons that you outsource your finance function to an accountant is to give you peace of mind that your relevant deadlines will be met and your business is compliant with all its tax and CRO obligations. By choosing to use an online or virtual accountant you should not compromise on this level of required service. In fact, by using an online accountant, your business may benefit from a more responsive and accessible service than that of a traditional paper-based accounting firm.

An online accounting firm will usually be more technology-focused and adopt paperless systems and cloud and internet-based technology services including cloud accounting software platforms.

This article shows you how working with a virtual and online based accountant could help you streamline your accounting function by becoming more online-focused, so that you can make more informed business decisions and maintain tighter control of, and improve the quality of, your accounting information.

How does an online accountant work?

An online accountant should provide the same professional and quality service that is no different from the traditional high street bricks and mortar accountant so your expectations in this regard should be the same.

DSK are Chartered Accountants and Chartered Tax Advisers and offer the full suite of traditional accounting services but in a remote online capacity.

Contact and service is delivered through phone calls, video chats and emails and by uploading relevant documents through the cloud, mobile apps and email.

What are the advantages with working with an online accountant?

Some of the benefits of using an online accountant include:

Quicker Access and Responsiveness

Generally, you should expect a greater response rate from an online accountancy firm. Our team at DSK are available online through email, phone and video chat at flexible times during the day

As online accountants in Ireland we have an acute awareness that response times and timely access to your accountant are key considerations for the modern consumer and business.

Competitive Fees

Online accountants are generally better able to provide more competitive fee quotes as they do not have to incur the usual premises based fixed costs of traditional accounting firms.

DSK provide and agree up-front pricing on all engagement before any work is carried out for our clients.

Increased proficiency – Cloud Accounting

One of the main advantages of using an online accountant is that they adopt and design systems that make it easier to do business online, making your life easier.

Cloud based systems are the latest in accountancy technology. They do not require hardware installation, back-ups or maintenance – giving you continuity and peace of mind. Take the headache out of processing and administrative tasks, freeing up your workforce for the operations that really matter. Cloud Accounting allows you to access your accounts anywhere.

It’s a secure and simple way to streamline your accounting across multiple devices – whether you’re at work, at home or on the road.

DSK, as online accountants, are here to support you in this transition from paper to digital.

Using online accounting software gives you real-time information on your bank accounts, cash flow and invoices so you can make better decisions for next week and next month.

Cloud Accounting – “How does it work?” – the process involved

Cloud accounting involves automation of a number of typical accounting functions as follows:

Automate your Purchasing and payments
Automate Sales invoicing and credit control
Automate your Employee expense process
Automate your bank reconciliation process
Automate your inventory management.

DSK will act as your dedicated accountant and gain an understanding of you and your business and gather all required information from you in a digital format as follows:

Bank Statement Exports from internet banking
Scanned or uploaded copies of invoices
Expense claims and other business expenses

DSK use Hubdoc, a document management software that automatically turns documents into useable data by extracting data from your receipts, invoices and bills.

Your DSK accountant imports these business transactions into the cloud accounting software system (usually Xero) and gets to work on your books. If they need anything from you, they’ll get in touch.

Real-time and monthly financial reporting is maintained which lets you keep track of your business’ health and performance.

What are the benefits of automated accounting?

Time savings
Real time reporting
Easier and more timely taxation compliance

Can DSK work with my curent Accounting Software provider?

If you’re already using software to manage your accounting needs, we will be happy to work with whatever you’re currently using.

If you’d like to change software or transition to cloud software from desktop based software, we can help with that too.

Xero – the benefits

DSK Chartered Accountants favour using the accounting software Xero and our firm are a Xero partner firm. All our staff are Xero certified advisers.

Whether you’re a start-up, Sole Trader or a Limited company, Xero Cloud Accounting is the system of the future. Save time, money and security headaches with this streamlined and cohesive service.

Some benefits of the Xero system include: