Online accounting solutions are web enabled accounting applications which allows outsource accounting providers, their clients, and other stakeholders to access their accounting and financial information securely and simultaneously through the internet.
What is the key advantage of using cloud based accounts packages?
The new breed of accounting software is designed to move your entire accounting online. The online accounting packages have been designed by accountants and IT specialists with your needs in mind. These packages will help you to improve service, boost productivity and cut costs.
With these packages there is no need to buy and maintain software, you simply log on whenever and wherever you like.
This means no more worrying about system crashes, system backups, and no more time-lag between the client and their accountant. Monthly processes are completed faster, IT support costs are reduced, and there is no need to purchase servers or IT infrastructure specifically for managing your financial back-office.
Which bookkeeping package should I use?
Our preferred packages are AccountsiQ, QuickBooks, Xero and FreeAgent.
If you are a start-up company we will suggest which package is best for you and help you set it up.
If you already use a specific package then it’s probably easier to continue with it, but…
If, however, you want to change to another package, we can do this without too much bother.
All of the mentioned packages have free to download mobile apps so that you can access your information on-the-go at any time of the day.
We can answer many questions regarding these packages and their apps so feel free to ask us.
Can I convert my data from other software packages?
Yes, converting your information from another product is possible due to implementation methodologies which recognise that existing clients may need to migrate from existing systems. Update routines to import data from a number of products have already been developed, allowing you to get up and running within the quickest possible time.
Are the packages easy to use?
Extremely, even for clients that may be unfamiliar with accounting concepts. This helps minimise the training required and ensure that your users are up and running quickly.
How much do bookkeeping packages cost?
Each package normally has 3 levels of membership which give you a different amount of functions. The cost varies from £8 to £40 per month depending on which level you require but we may also be able to get you a discount on this.
If you have a business account with RBSI or NatWest then you can have their accounts package, FreeAgent, for free for as long as you keep your account with the bank. Great for Start-up companies!
Is there any online help or training provided?
Yes, these packages come with full online help facilities and users can take online exams to become accredited. In addition, training and implementation support will be provided.
If you do my bookkeeping, can I see the up-to-date figures?
Absolutely yes. Whether or not we do your bookkeeping, you will also have a login for the package you use and can view your numbers at anytime online. We normally keep the records very current anyway but, if you need your books right up-to-date then let us know and we will make sure that they are. If you need help understanding the figures we can explain them for you.
Will Mekad do my accounts if I've done my own bookkeeping?
Yes, whether or not you’ve asked us to do your bookkeeping, we can upload your data to our accounts production software which produces professional financial statements including the latest standards and notes.
As soon as we have access to your accounting package we can extract all the information we require to prepare your accounts.
Mobile apps, are they easy to use?
Yes, you can download them for free from the app store and they enable you to access your accounts whenever you need and wherever you are. They are straight forward to use and, as with the online software, you don’t need to be an accountant or undertake extensive training to understand how they work.
I sometimes lose receipts when I'm on the go - is there a solution?
Yes, using the relevant app for a package you will be able to photograph a receipt as soon as you get it, which means it will be accounted for immediately. You can even assign the receipt to a project if you intend to recharge a client. You can also do the same with bills you receive.
What reporting capabilities are available with these packages?
They include over 180 accounting reports designed by experienced accountants to provide high quality comparative and analytical business performance reporting as standard. They can also present your analysis with impressive budgeting, graphing, and statistical reporting of both financial and non financial Key Performance Indicators. There are also Business Intelligent tools for more complex data analytics.
Can you give us a blank test company where we can set up documents in multiple currencies?
On these packages you can either use a dummy company which has already been set up or, we can create a blank company using our generic company template and make it available. Alternatively we could set up a company using one of your existing data, or using a chart of account layout that you are familiar with.
Can I assign multiple users?
Yes as the administrator of the system you can assign as many users as you wish, you will also have total control over access levels for each user.
Can I generate invoicing through these packages?
Yes, you also have the option of emailing invoices, statements and remittance advices to your customers. Some packages will even chase up your outstanding invoices automatically.
How much work do I want Mekad to do for me?
We will do as much or as little as you ask us to. As it is your business, it is up to you and we will tailor things to your liking.
We can provide you with many services including:
- Business advice
- Personal Income Tax returns
- Business taxation returns
and we generally like to work for a fixed fee (so you know your costs in advance) with any ad-hoc work being charged on a hourly basis.
We like to be in contact with our clients on a regular basis, not just for the year end accounts, so we try to keep everything up-to-date in order that we can highlight issues to you on a timely basis rather than when it is too late to do something about it.