An online CPA service is a professional accounting service that uses the cloud to connect with its clients.
This means a certified public accountant is available to help without having to schedule a visit.
Online CPA services can provide painless accounting services to your small business. The cloud software allows a CPA to be with you every step of the way to take of the accounting, tax, and financial statements.
In return, you get more time to do what you became an entrepreneur for. This guide will help you begin to understand online accounting and CPA services and how they can help your small business. It focuses on the common concerns and questions that customers have about online CPA services.
What are online CPA services?
As mentioned above, online CPA services are a professional accounting service that utilizes cloud technology.
But what are CPA services you might ask?
“CPA” stands for a certified public accountant – an accountant who is certified by the state. CPA services typically include adjusting entries, financial report preparation, and tax preparation.
Normally people have to make an appointment with a local accounting firm to receive such services. Through the online platform, these CPA services are available anytime as they can access files and records from anywhere.
It is the future of accounting services which allows small businesses to get professional accounting help at a much lower cost.
Why do you need CPA services?
CPA services are necessary for maximum efficiency in business management.
One service they provide is making sure your books stay accurate.
They will perform adjusting entries, calculate depreciation, recategorize assets, etc. to keep bookkeeping up to date. Once they update your books they will prepare financial statements.
These statements are required for any public company or can be useful to a private company that may be applying for debt financing or that simply wants to control costs.
All this work is done for you without you having to waste any time trying to figure it out.
Another service they can provide is tax preparation.
A CPA will work to minimize a company’s tax liability by trying to find the maximum number of deductions. While doing this, they abide by all tax laws to avoid any possible audit by the IRS.
Otherwise, if you prepare your company’s taxes, you could be losing money for your business and risk an audit.
Once again, all this can save you time and allow you to manage your business better.
6 facts about online CPA services
1. CPA’s specialize
Accounting rules can be different depending on the industry you’re in. Furthermore, CPA’s specialize in certain areas of business.
CPA’s provide online accounting services for a specific industry and learn all of the unique rules for that industry.
With online CPA services, your business is assigned a CPA that specializes in the industry and works with many similar companies nationwide.
Instead of learning all the unique accounting and tax rules for your industry, let an online CPA service do the work for you.
Your small business receives tax preparation, financial statements, and a piece of mind compared to your competitors who don’t use such a service.
2. We use humans not robots
Online CPA services aren’t robots, but actual people who do more than just punching numbers.
The CPA will develop a considerable understanding of your business, and develop a relationship to ensure communication and collaboration.
Of course, they will do the math and logic work necessary for accounting, tax preparation, and financial statements.
Just because the accounting services are provided online, it doesn’t mean it is all computerized.
3. The cloud is flexible and everywhere
Online CPA services provide a painless accounting service through the cloud. Keeping all your data in the cloud means you will have access to your information dynamically from anywhere.
You can access your financial statements and more on multiple computers and mobile devices.
All of the work is transparent and easily accessible.
4. Online CPA services are safe
As a business owner, you want to ensure your company information is kept safe and secure when using an online CPA service.
At ALOEwerx, we use a trusted QuickBooks Online software to keep your financial information safe.
The data is protected with multiple layers of authentication, which eliminates the risk of viruses or malware.
Unlike if the data was on your own local PC.
It’s a painless accounting service so you, the business owner, won’t have to worry.
5. Use online CPA services to save time and money
You don’t have to waste time entering invoices and payments into your books. Additionally, you don’t have to pay an expensive local tax preparer to file your taxes.
Thus you just save time and money when you use an online CPA service.
CPA’s will make sure all of your financial statements are correct and do the tax preparation for you. This will give you time to do what you’re good at and avoid the ‘pain’ of accounting work.
6. Online CPA’s have the same license as any firm.
Maybe you don’t do your bookkeeping but instead, outsource it to a local public accounting firm.
This works well but costs a lot of money.
Let’s face it, you’re a small business and are the least of their worries.
Through an online accounting service, you can create a relationship with your assigned CPA and accountant.
Plus, get real insight into what’s going on.
It’s more than just online bookkeeping – it’s more like hiring business consultants.
Switch from a local firm and get a cheaper but more personal experience.
This guide is intended to help small business owners understand online CPA services.
These services are very beneficial to a small business and can help ensure success.
It will save managers a great deal of time and allow them to focus on things they understand.
Leave the accounting up to the experts.
Using the cloud platform, CPA’s are able to help a lot more businesses and provide a more personal experience at a much lower cost.
Don’t waste any more money on the big accounting firms and switch to a service where the business owner and CPA work together in the cloud.
Companies like ALOEwerx make this service affordable and relieve the stress of tax time.
If you have any further questions or concerns surrounding online CPA services, please comment below.
I will gladly help your small business out and add any material you find useful.