Online accounting for companies
In the modern age of technology and innovation that has taken over the entire world, online accounting has become a need of every company unit for the operation of its business. Over 2/3 of all micro, macro, small and medium businesses, as well as individuals, trust online accounting services because of the convenience, functionality and benefits they provide. Tracking cash flow is key for any company, regardless of its size and scale. Compliance with all legal regulations is also a prerequisite for its successful management.
What are the tasks of online accounting?
1. To process, store and archive all accounting information, through which reports, balance sheets, etc. are then made, and documentation of income, expenses, bank statements and other documents related to accounting is prepared.
2. To book current company, business and non-business operations, in accordance with current regulations and accounting practices depending on the law.
3. To prepare and issue declarations for each reporting month when the company is registered under VAT.
4. To assist during audits and inspections by the competent tax and legal authorities.
5. To prepare periodic balance sheets, financial statements and reports of income, expenses and others, based on which permanent access and a real idea of the financial condition of the given enterprise should be carried out.
Who is online accounting suitable for?
In general, this type of accounting service is designed for anyone who wants to run a successful business, but generally speaking, it is suitable for:
- natural persons performing freelance professions;
- wholesalers and retailers;
- construction, transport and software companies;
- marketing agencies and companies engaged in online digital commerce;
Why choose online accounting?
We will now introduce you to some of the main advantages that online accounting offers.
I. Manage your business wherever you are.
Perhaps one of the most important advantages that the software provides is that it can run on a phone, laptop, computer or any other smart device that will only require a constant and uninterrupted internet connection. This will allow you to check the financial status of your company, prepare and issue invoices, expenses, reports, track payments and transfers, process all archived documents and many other tasks, from anywhere in the world at any time of the day.
II. Work with invoices in a variety of formats and manipulate them in a variety of ways.
Documents can be printed in A4, A5 or any other size, for which you will only need a regular printer. Of course, this modern technology also offers modern techniques for printing. You will be able to work with so-called POS printers, Bluetooth mobile printers and others. Invoices can be sent via e-mails or directly to the customer's smart device, in a specific format such as an attachment or a link.
III. Stay in constant contact with your accountant.
Personal delivery or sending tons of documents via courier companies to your accountant is now a thing of the past. He will have easy and constant access to the company's database and will be able to work with all the documents and make the necessary payments right in the online accounting software.