In a world where technology is taking over a large part of our lives, it can be hard to decide whether an accountant or a financial app is the right choice for running your business. QuickBooks, an online financial management application, makes bookkeeping more convenient for business owners, but it still couldn’t provide the expertise of a certified accountant.
When it comes to managing and analysing financial data, both an accountant and QuickBooks have their advantages and disadvantages. So, in order to determine the most suitable option for your business, it’s important to understand the differences between them.
QuickBooks for Quick, Intuitive Access
QuickBooks has become increasingly popular with small business owners due to its intuitive user interface. Data entry is quick and easy, and you can connect your bank accounts and credit cards to view up-to-date financial information in one place. This helps users save time as they don’t need to update and reconcile transactions manually.
Additionally, QuickBooks offers an array of attractive features that make it suitable for business owners with limited account experience. It can level up tax prep with its online filing options and integrated software, allowing users to access the same tools as professional accountants and easily manage the financial aspects of their business.
Comprehensive Accounting Services for Complex Financial Analysis
On the other hand, a certified accountant can be helpful for complex financial analysis that QuickBooks can’t provide. They can look at the bigger financial picture of your business, create financial forecasts and provide sound advice on how to move forward. Unlike a piece of software, an accountant understands your industry and specific business situation and can draft strategies to grow your business.
Most small business owners don’t have the accounting knowledge and experience to operate their financials in the most beneficial way, particularly when it comes to tax regulations. That’s why having a skilled accountant is the best choice to handle the more complex aspects of your business. They can assist in filing tax returns accurately and on time, as well as structure business entity choices to maximise deductions and minimise taxes.
Get the Most Out Of Both
At the end of the day, an accountant is still the ideal choice when it comes to managing your business’s finances. However, QuickBooks can provide a comprehensive suite of tools to help automate data entry, make complex calculations and simplify bookkeeping for small business owners.
Using a combination of QuickBooks and an accountant is the best way to get the most out of both. You can save time, money and energy with QuickBooks, while an accountant can provide you with exceptional financial analysis and advice that you wouldn’t get from an automated tool.
At Perth Mobile Tax, we offer a comprehensive package of accounting services to help small business owners achieve the financial success they desire. Get in touch with us today to discuss how our team of certified accountants can put together the perfect package of QuickBooks and accounting services to help you take your business to the next level.
