The service provides an integrated resource for clients’ accounting, compliance and business advisory needs via an online portal and cloud computing. This removes the need for SMEs to purchase accounting software, work with a bookkeeper and accountant, or have an accounts team.
Other services provided by AccountsTeam include virtual CFO, bookkeeping, financial reporting, payroll, inventory and point of sale services.
According to AccountsTeam CPA and founder Rener Lao, the system aims to help SMEs become automated, systemised and well run, allowing owners to focus on other areas.
“Small business owners often express their frustration at being bogged down with administration and accounting instead of focusing on building their businesses. They need a service that can take care of everything from record keeping to bookkeeping and tax.”
The service shares real-time data and documents with clients, even allowing a synchronisation of due dates so everything runs on time. Unlike in the traditional bookkeeper-client-accountant relationship, this eliminates inefficiencies from double handling of information and time wasted from swapping or fixing inaccurate data and missed communications.
The AccountsTeam solutions are scalable and fees are fixed, to assist SMEs to better control their expenses and cashflow.