An Ideal Solution for accountants
Now days Google spreadsheet is extensively used by accountants for Working papers. Though Internet shows pros and cons of Google Vs Excel , we have used these sheets and feels it is as good as Excel (except the speed) and Google intends to update this on regular basis so all features of Excel can be incorporated in this.
Best part of the solution is "Free" unless one uses it extensively for commercial purpose (Fees is as low as $5 per month). There is no issue with import and export in Excel and as the solution is cloud based one can share this with ease.
From Working papers perspective one can easily use formulas and attach images (like bank statements) in Google Sheet. Google keeps updation history as well so one can track changes from last updation.
Year end accounts outsourcing is easy compare to bookkeeping as logistics involves easy to transfer electronic documents. So be it last year PDF accounts or working papers in excel one can easily share with outsourcing partner. We at PE offers easy to plan Year end accounts process where in our clients provide.
1. Last year PDF copy of accounts
2. Last year working paper in excel
3. Current year bookkeeping backup
4. Closing bank statement and this is it.
We will produce year end accounts as per your working papers formats and deliver quality accepted by Chartered accountants in England and all this at fixed fees cost of £140. Do get in touch with us if you wish to try these services.
Outsourcing !! A choice or requirement
Yes we agree, practice wish to process their jobs in house but this is not always the best option.
The truth we must reluctantly swallow is that, sometimes, there are companies who can do things that we can as well. Whether it’s due to access to more resources or simply more time and experience to dedicate to a specific aspect of business, there are numerous companies who would be more than happy to take those tedious tasks off your hands. In fact, 57% of world business leaders sited improving efficiency as a driver in outsourcing processes and 40% of global accounting practices currently do or plan to outsource. You wouldn’t try and rewire the electrics in your house by yourself, so why not use an expert to maximize efficiency within practice.
Take for instance bookkeeping and year end jobs. When there are options available for fixed fees solution from outsourcing companies, practices are missing out on numerous savings opportunities as they do not have the capacity to dedicate the time nor enough resources. Whether they admit it or not, they could do with a hand.
So why would you not at least look into outsourcing your bookkeeping and year end to a specialist.
The biggest thing to remember is that outsourcing does not mean replacing and it certainly does not mean failure. If outsourcing to a specialist saves time, money and is more productive, surely it should be investigated as a legitimate option? Pride comes before the fall and for some businesses, refusing to accept that someone may be able to help them do things better can lead to loss as they fall behind their competitors.
Although companies should not be warned against taking on business processes in house – in some instances it can be more beneficial and cost-effective to internalize procedures – outsourcing is natural and normal within the corporate sphere. With the development of software as a service deals and subscription based packages, utilizing external specialists is easier than ever before. Practically every business relies on some form of outsourcing and it would be foolish to reject expertise when it is readily available and affordable.
ProficiencyAccounting is the recording of financial transactions plus storing, sorting, retrieving, summarizing, and presenting the information in various reports and analyses.
Accounting Principles Board (APB)
Accounting Research Bulletin (ARB)
accounts receivable turnover ratio
accrual basis of accounting