A few years ago, before the internet was in existence, I would have gladly wandered down to the local high street accountant’s office to sign on the dotted line and pay what was then considered to be the market rate for accountancy and taxation services.
Today, however things have changed. Low cost accountants can be found quite easily on the internet offering prices which are quite attractive.
To understand how and why accountancy costs have reduced so dramatically over the years, firstly we have to consider the internet. The internet has made it easy for anyone to compete on equal terms with the more established high street accountants. But that’s not the full story. In the “good old days”, to produce a set of accounts it took a junior clerk to tidy up the bookkeeping, a fairly junior accountant to produce the accounts, with a senior performing the final review. A secretary would type out the accounts on a typewriter, with corrections having to be repeated again and again as the review process continued. In other words, duplication an inefficiency were rife.
Today however, we have a different breed of accountant. Clients are educated and supported via email and remote desktop connection. It could even be said that they do most of the junior clerk’s work for him. In essence, all that’s left to do is for an accountant to enter everything into his software and the job is almost done. There’s no need for a secretary, and changes or amendments can be done at the touch of a button.read more helpful ideas at this article.
So in essence, I would argue that such inefficiencies have been around for a long time, but it’s the internet that has exposed them and accountants have been forced to start to compete for business that is slowly being drained away as clients come to their senses.
Hence, internet based accountants aren’t as cheap as chips as they would first seem. In reality they are merely offering very efficient services in sector that they choose to exploit. By this I mean that some accountancy jobs consume vast resources for little reward.
Others take little effort and offer considerable reward (for example IT contractors). If they optimize their website properly. both on page and off page, internet accountants can expect a high volume of clients flowing “through their doors”. If volumes are high enough, they can take advantage of economies of scale, it’s sort of like an accountancy tin can factory with products and services being churned out quickly and at very reasonable cost, but nevertheless without quality being sacrificed.get additional updates at http://nypost.com/2015/09/28/trump-my-loophole-removing-tax-plan-will-cost-rich-guys-like-me-a-fortune/
However, cowboys do exist. If you are considering using accountants from the web, I’d recommend having a good trawl through the forums first to look for negative comments, so that your can form some sort of opinion of your own before committing.