Hi guys, it’s really amazing that you are all taking the time to read my blogs, some very good questions have been asked. Please keep this up as the more people I can help educate or help make the move to a more useful, time efficient record keeping system, the greater my sense of accomplishment is knowing that your lives are being changed and goals are being achieved.
I started my accounting journey in early 2009 when most of the clients I worked with used simplex cash books and handwritten sheets of paper. To see where the industry is now and how much it has changed is phenomenal. Of course there have been packages out there for many years but I suppose a lot of business owners seen these as being too expensive or more realistically just couldn’t see the value in using computer software and paying for something that will deliver the same end product – a tax bill!
The clients I have worked with over the last 8 years have varied on a huge scale. It was originally working with unincorporated, self employed business owners using these very basic records and shoeboxes of receipts. From day one I have always thought there must be more to this than typing the details from the receipts on a spreadsheet and delivering a set of accounts and tax return but at the time, that is what people wanted and expected.
As my career moved forward the range of clients I worked with started changing to limited companies operating on a national scale even to the point of international clients and extremely complicated structures. This was fantastic and I had a lot of exposure to really intricate , technical situations that most accountants don’t see everyday.
However, as the market started changing and software became available for clients to become more self sufficient and submit accounts and tax returns electronically themselves, what became apparent was the value for this type of service started to be surpassed by a new wave of services that we could offer.
A lot of people thought that my decision to move away from these larger companies and groups was wrong, I mean even I had reservations as this was an unknown territory for me. I knew it was coming and sooner or later we would have to adapt so I thought why not take the risk, everyone else can’t be wrong surely. Becoming involved in implementing the cloud software team and getting geared up for MTD I had the opportunity to work closely with clients who care about the business they run. Any prior doubts were soon eradicated by the feedback and opportunities for both us as Accountants and more importantly, clients.
The way financial information is recorded has been completely overhauled for most of them which was scary and took a lot of bravery and faith in trusting us but now they would not look back! The time they save now has left them with availability to focus on WORKING ON their business rather than WORKING IN their business. It’s a very subtle change to the words, in fact only one letter, but the difference in the results they see can be amazing.
Working on a business also allows us to come in and help set targets and KPI’S but more importantly to find the heart of the business, help you focus on that and also find the root of the problems and remedy ways to eliminate them.
A lot of businesses rely very heavily on financial information which isn’t a bad thing but the use of non-financial information takes what you could achieve to another level. This is what I love doing,
educating people firstly to realise the importance then secondly, helping them use this information to make strategic choices.
All of this has been made easier and achievable for business due to the use of cloud software. Not just the accounting side, the likes of Xero, but other industry specific and key operating apps. For example, cash collecting via apps like Izettle and Square (my personal favourite as it sends analysis of popular products, client frequency and much more non financial info from doing very little), client booking systems such as timely and near cut.
The next few years are going to be really important as HMRC is forcing businesses to move to digital records keeping (see previous blogs on this) so why not embrace it now and make sure you are ready for the change, a cut above the rest!
If you have any questions please get in touch with me on:
Telephone – 0191 281 8191 Email – firstname.lastname@example.org
Thanks for reading!