How specialist accounting systems and tools help professional business owners
As a lawyer, doctor, surveyor, IT specialist or other professional business owner, the task of accounting for your specific industry can take you out of your comfort zone. Not only do you require basic accounting services, but you need expertise and tools that can cater to the requirements of your particular profession.
Why use a specialist accounting firm?
While all accountants train to work with numbers, a specialist accounting firm will have personal experience with other clients in your field and a strong understanding of your industry. This means that the service you receive is automatically personalised, and your accountant will understand the context behind your specific business’s cashflow, expenses and tax requirements.
A specialist accounting firm will understand your needs
Are you a doctor, medical specialist, GP contractor, dentist, physio or other self-employed medical person?
An accounting firm with knowledge of your industry can provide a more personalised service. For example, at The Accounting Hub, we have helped medical clients for a number of years, gaining insight and in-depth knowledge of their specific accounting requirements. We have an understanding of the industry, pay rates for contractors, government funding systems, structures used for GP practices and valuation methods for GP clinics.
Do you own or run a law practice, or work as a contractor in the legal profession?
A specialist accounting firm will have specific experience catering to the needs of professionals in the legal industry. At The Accounting Hub, we understand the business, and we are able to easily assist legal firms with modern accounting and time tracking systems to provide accurate reporting and confidence that taxes are taken care of correctly.
How can accounting systems and tools help professional business owners?
The systems and tools that you choose for your accounting will have an enormous impact on your business. A modern and professional accounting firm will use sophisticated, automated accounting software, such as Xero, to meet your accounting needs.
How Xero helps professional businesses
Xero accounting software features many advantages for professional business owners. Among other benefits, Xero allows healthcare businesses to:
- Keep track of stock quantity and value on a daily basis.
- Track working hours, approve leave and make paying your staff even easier with online payroll in Xero.
- Mange your workload at work, home or on the go with a suite of mobile apps
- Sync Xero with third-party healthcare apps for appointment scheduling, practice management and more.
And for legal practices, Xero offers the following benefits:
- Sync Xero with integrated law-practice management apps to easily manage cases, clients and appointments and save time reconciling trust accounts.
- Create beautiful customised recurring online invoices.
- Manage personal expenses at work, home or on the go with the mobile accounting app.
- Use legal billing software to stay up to date with your cash flow from anywhere.
Choosing a specialist accounting firm
As a professional business owner, you can choose an accounting firm to help you find the systems and tools to meet your accounting and business goals. At The Accounting Hub, we work with professional businesses in many industries to help them achieve financial success. The following professional business owners opted to use our specialist accounting services.
Kirstin, a partner/owner of KPLegal, particularly appreciates the use of modern accounting tools:
“My old accountant did the job but he was expensive and only really did my end of year accounts. He didn’t even use Xero. The Accounting Hub is modern and cost effective, I get more bang for my buck!” – Kirstin, Lawyer, KPLegal
Victoria, Chartered Building Surveyor and owner of Copper Seed, has seen her business progress greatly with the added benefit of a business coaching service:
“If I didn’t have the quarterly sessions, I absolutely would not stay on track or commit to achieving my goals and Andrew helps track my progress. If I achieve something, we get straight to work on setting a new goal.” – Victoria, Chartered Building Surveyor, Copper Seed
Alice, a communications wizard and owner of Applause Communications, finds the best part of using a specialist accounting firm to be the ease of communication:
“Even though I’m a language person and The Accounting Hub are numbers people, the transformative nature of my business is similar to what they do. It’s not just about IRD payments with The Accounting Hub. I feel really supported. Andrew and the team are very patient and make me feel comfortable. There’s no jargon.” – Alice, PR Specialist, Applause Communications.