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August 19th 2014 / BY: Wisteria

Different Types of Accounting Service

When operating a business, there may come a time when you require specific advice and help in relation to your company’s affairs. This could range from basic administrative help from dealing with post and calls, to more complicated tax and accounting planning which could involve a number of tax advisors or accountants to best plan your company’s tax and financial affairs. Depending on the level of service that you feel your business actually requires, there are many different methods of obtaining an effective and efficient accounting service that would suit your needs.

Choosing the right Accounting Service

On the one extreme, there are many online accountancy software programs that will offer you with a cheap, simple and hassle free accounting service. It would still be up to you to complete the large majority of the work but with a basic level of support through the online FAQs and online helpdesks. By using one of these online providers, you will be able to fulfil your statutory obligations for a very small fee, but without the advisory services you would expect from larger firms.

The other extreme would be to go to a ‘top 4’ accounting firm and utilise all of their expertise, knowledge and services. Although you would receive a much more personal and higher quality service than from an online software provider, you may feel that the premium that you would pay for these would outweigh the benefit from doing so.

Assuming that your business does not fall into one of the two extremes as above, there are many smaller accountancy firms that offer a more tailored and bespoke accounting service to suit the needs and requirements of each company. By using the services of these types of accountants, you will remain fully compliant in terms of your financial statements and tax requirements on both an individual and corporate level, but there would also be a large scope for personalised advice that would be specific to your business. Additionally, the level of service that you would receive would be more flexible to fit around your needs and requirements.

The type of accounting service that a company requires will depend on the size, complexity and nature of the business. Not only this, but some business owners prefer that their company’s affairs are being handled by fully qualified accountants and tax advisors.

If you would like more information about what accounting service Wisteria could offer your business, then please do not hesitate to contact us on info@wisteria.co.uk or call us on 020 8952 0140.