What are online accounting services?

There are two types of such platforms: outsourcing and self-service. In the first case, the user interacts with a team of accountants who study the company’s documentation, remind them of paying taxes, fill out and send all the necessary documents to the right authorities. In the second, the user receives only tools that help to keep accounts, but the user does all the work himself.

Outsourced services

Accounting outsourcing is almost the same as having a personal accountant in the state, only without the need to pay him sick leave, pay vacation and maternity; working with a team of accountants on outsourcing, you pay only for specific services. True, in this case, the entrepreneur cannot talk face to face with outsourced accountants. All issues are resolved by phone, through instant messengers or a special application.

Who suits:

  • a large company with a large document flow;
  • companies with a large staff;
  • a company that carries out cash or currency transactions.

If the company is large, operates as an LLC and concludes many contracts, it is better to choose online accounting services that work in the outsourcing format. They provide their clients with not only technical support, but also legal and accounting advice.

Self-service services

The task of the self-service service is to help find the answer to the question and quickly solve the problem of the entrepreneur without outside help. Such systems help to save time and money. Self-service helps to quickly and correctly draw up reports, maintain documentation, fix profits and make calculations.

Who suits:

  • individual entrepreneurs who work under the simplified taxation system,
  • individual entrepreneurs who do not hire employees,
  • entrepreneurs who work without a cash register and cash payments.

Individual entrepreneurs who can easily calculate the amount of taxes and submit a declaration once a year can choose self-services.

Benefits of online accounting

Let’s list what an entrepreneur wins using online accounting services.

Saving money. Compared to the salary of full-time specialists, the cost of cloud service tariffs is lower.
There is no connection to a place. You can work with the service anywhere and at any time if you have a computer and the Internet.
Always up to date information. The services provide only up-to-date documentation, if there are changes in the legislation or new rules come into force, the platform specialists automatically make all the changes. You do not need to send requests to the tax office and wait for new forms for paperwork.

There are reminders. Notifications promptly inform users about the need to fill out declarations and send reports.
Can be used via phone. Many online accounting programs have a mobile version.
All data is stored in a personal account. If the computer or phone breaks down, the documents will not have to be restored if they are stored in your personal account.

Special knowledge is not needed. The user needs a minimum of special knowledge to start working with the program. Many services provide detailed text and video instructions for filling out documents.
You can register quickly. You can become a client of the service in a couple of minutes: register, pay for a tariff plan and sign an agreement – if any.

You can try for free. Many online accounting programs have free trial versions that help users try out the functionality and test the user-friendliness of the interface.

Disadvantages of online accounting

There are not so many shortcomings in the operation of services, but it is important to take them into account in the work.

The service is not responsible to the tax. The online bookkeeping service is not responsible to the tax authorities for users. These are programs and people who do not know the intricacies of a particular business and do not see how an entrepreneur does business.

Internet is always needed. To work with online accounting, you need constant access to the Internet.
You need to keep track of the payment of the tariff plan. If the user forgets to pay on time, most of the functions will be disabled automatically – this can lead to serious consequences