Investing a lot of money in cloud accounting software seems like a great idea for accountancy firms with their clients’ best interests in mind.
It’s a software you’ll be using extensively, which will be required to update your clients’ accounts and in the not too distant future, will be submitting tax returns to HMRC on a quarterly basis on behalf of your clients – why would you skimp on such an important factor of your business?
However, by spending more than is necessary, you could actually be doing your clients a disservice, particularly if they’re using your own white label solution. These are just some of the reasons why a more expensive solution could become an issue.
By paying too much for your cloud accounting solution, you may think you’re getting all the features you’ll ever need – for any client.
For your clients in need of a simple accounting software, this can cause problems. Splurging on an expensive system will mean all of your clients have to manoeuvre through intricate software to perform the simplest of tasks.
This can backfire when they incorrectly enter information, or even worse, don’t fill out their tax return accurately; even the smallest of inconsistencies can result in a HMRC investigation.
Losing your time
Paying for a ‘superior’ software will also have a knock-on effect on your own service’s performance.
As your clients struggle with software that is too complex for their needs, they’ll come to you for help. As a result, you’ll be spending more time explaining to clients how to use the software than you will actually completing their accounts.
Save yourself the trouble of losing out on working hours by instead using a simple accounting solution that will meet your clients’ needs without limiting what you can do as their accountant.
You could be wasting yours and your clients’ money if you’re paying for services neither you nor them need. There’s no point paying extra ordinary costs for accounting software if you’re only holding onto it on the off chance you take on a client who requires specialist tax treatment.
Instead, work with what you have and who your target clients are. If they’re small businesses and freelancers, there are much cheaper options out there than the expensive big name brands.
Save yourself the money and the hassle of a larger, more expensive and more complex cloud accounting software by finding a more comprehensive solution that won’t break the bank.
Are you spending a small fortune on accounting software? Do you want to change to something more affordable that will be easier for your clients to manage? Chat to the Pandle sales team on 0203 393 7434 to see how they can help.