E-accounting (or online accounting) is the application of Internet technologies to the business accounting function, which uses a single database between the client and the outsourced accounting firm.
E-accounting helps concentrate on the core activities and avoid costs associated with traditional accounting software such as installation, upgrades, backup and disaster recovery. The advantages of online accounting greatly overweight the disadvantages.
Five accounting firm offers e-accounting service in different packages.
What are the advantages of e-accounting?
- professionalism – we have competent employees that are going through various trainings.
- efficiency – 24h access to the accounting documents, e-accountant does not go on a holiday or fall ill.
- cost cutting –a typical small size firm spends 130-190 euros on e-accounting services per month. There is no need for the company to purchase an expensive accounting software.
- reliability – an e-accountant is responsible for his/her work meeting the deadlines.
- safety – accounting data is kept confidential
- loyalty – e-accountant is responsible for compliance with the law of the Republic of Estonia
- focus on future – the awareness of present moment makes it easier to make future plans