As a self employed individual or a director of a limited company, you may be experiencing the best that a modern day accountant has to offer, or at least we hope so!

25 years ago, an accountant’s role was limited to review of numbers on paper, with a view to past performance. The stereotype of a middle aged, balding man in a suit with a calculator in his front pocket existed for a reason! At its core though still, the accountant’s goal was to provide business support via reliable numbers to help determine profitability and pay the right amount of tax.

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According to research released this month by Starling Bank, small businesses spend on average almost 2 hours a week on accounting, equivalent to 20% of a small businesses time. Furthermore, 32% of small business owners cite accounting as the most stressful part of running their business.

What can you do to mitigate the loss of time and relieve stress while running a small business?

According to the same research, 16% of small business owners saw the benefit of integrating their bank account to online accounting software, such as QuickBooks or Xero.

20% of other small business owners saw the benefit of being able to see all their business financial information in one place would make a huge difference to the time spent on finance in their small business.

The importance of small businesses can’t be overstated. They make up the majority of enterprises in the UK, employ almost nine million and generate nearly a trillion pounds in revenue each year.

Southside Accounting supporting small business

Southside Accounting are your local cloud accountants in Wimbledon and London. We’re local, like you. And we’re a dynamic small business. Just like you.

We are fully chartered, certified accountants so we’re well qualified to be the trusted advisers you need to help make your company a success.

All our clients are on the cloud and have access and support on cloud accounting software, in both QuickBooks and Xero.

Our fixed fee structure means there are no surprises. And our smart Service Plans are tailored to meet the particular demands of your business.

So whether you’re a sole trader just starting out, a Limited Company, PAYE, or an established business with employees, we can help.

Call us to book a free no-obligation meeting today.

We always offer an initial free face to face meeting with prospective clients, so we can get to know you and your business and understand your unique circumstances and business goals.

Written by Shaima Todd.

Wholeheartedly embrace them or ignore them altogether, it’s new year’s resolutions time! But have you considered making any new year business resolutions?

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With the UK in full election mode and the main political parties putting environmental issues front and centre of their campaigns, issues which would otherwise be the focus for fringe parties, and this week the Queen boycotting fur, how can small business do its part to help save the planet?

As the inspirational climate activist Greta Thunberg says, ” no-one is too small to make a difference”. As a small business owner you have the power to make a difference and do your part to help save the planet. Here are 5 processes that we employ ourselves at Southside Accounting which you can incorporate into your small business straight away, if you are not doing so already.

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“I use a cloud based bookkeeping software and it has been a revelation for my business efficiency, but how do I know if I am using it correctly?“

The advent of cloud accounting 5 or so years ago revolutionised the way small businesses now work. The business efficiencies cloud accounting brings to day to day business activities, whilst allowing for real time view of your cash flow, any place, any time. As a result, the path to success and growth for small businesses is becoming a reality rather than a pipe dream.

With low cost subscriptions and several well evolved cloud accounting software packages now available on the market and geared to start-ups and small business, such as QuickBooks and Xero, small businesses can now go out there in the trading world and feel more in control of their finances, especially important in those first few years of growth where cash is king.

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Have you made the positive move to partner with an accountant who better suits your needs?

If so, you may be thinking, what next? How quickly will the move of accountants take and how long will it take for my new accountant to get up-to-speed with my financial affairs?

Switching accountants may seem like a daunting and long-winded process, especially if you have been with your existing accountant for a long time. The good news is that the process of switching accountants is very easy and requires very little work by you. Read on to learn how to take that all important next step.

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