Leading Online Accountants Urge SMEs to Be On the Ball with Finances This Christmas

online accounting for businesses

Magic Accounts, online accountants serving SMEs across the country, are encouraging the owners of small businesses to be extra vigilant about their financial duties over the Christmas season, as the workload increases dramatically and some businesses owners find it hard to remain organised. Whether by dedicating a set time in the day to sorting out financial matters, or by utilising the services of a fixed-fee accountancy service, businesses can come through the festive period without any detrimental financial backlogs or problems.

An incredibly hectic time for many businesses, Christmas can often result in increased orders, higher expenses, overtime for staff and many other financial issues that need to be dealt with, so it is crucial that all receipts and invoices are retained and filed appropriately, no matter how rushed off their feet business owners are. Many businesses even find that taking care of payroll, bookkeeping and tax issues is too much for them to handle over this busy time, and a large number turn to part-time accountants to help them with the process.

Laurence Collins, Managing Director of Magic Accounts, which boasts a team of online accountants ready to help get businesses organised, says, “Christmas is undoubtedly the busiest time of year for many businesses, so taking on some assistance to ensure all financial duties are fulfilled is paramount to keeping the business running as it should. From managing cash flow to ensuring payroll documents are filed appropriately, an online accountant can help to free up time for SME managers to focus on their primary goal at the end of the year: making sales, fulfilling orders and ensuring all clients are satisfied over the festive season.”

The retail sector is often the industry affected most by the Christmas rush, but many freelancers also find that they are besieged with orders. Freelance Christmas card manufacturers, bespoke jewellery makers, mobile beauticians, craftsmen who specialise in wooden gifts, catering businesses; they are all likely to experience increased activity over Christmas and are the most likely to need assistance in the form of a part-time accounting professional.

As long as the client fulfils their end of the bargain by ensuring all receipts, invoices and other documents are sent in a timely manner to their accountant, the financial professional will be on hand to assist with every matter, from bookkeeping to fielding all communications with HMRC. Magic Accounts offers tailored accountancy packages for all types of business, including sole traders and freelancers, so the hectic Christmas season can now be navigated with ease.