Useful Tips for Accountants in Covid-19 / Pandemic

COVID-19 has changed the world around us, from people being locked down in their houses to businesses focusing more on working from home; business dynamics have also witnessed a drastic shift. In such situations, businesses must opt for modern ways to conduct day-to-day tasks as rightly said in the quote above. In this article, we have described some useful tips for accountants in COVID-19 to help them have some ease in their work and make the maximum of this tough time.

Transfer Your Accounts to the Cloud

While digital tools and advanced software simplify accounting operations, migrating all accounting data to the cloud has numerous advantages. The cloud enables you to access large files from anywhere, at any time, without the need to store them on your gadget, thus avoiding potential storage issues. This boosts productivity, speeds up workflows, and provides a simple, effective solution for managing financial data.

Several leading accounting software platforms, including QuickBooks, Xero, and Intacct, offer cloud-based functionality, making it easier for businesses to manage their finances. Accounting firms benefit greatly from this cloud-based approach because it eliminates the need for complex software installations while maintaining data security. This flexibility is especially useful for remote work arrangements, making cloud solutions a must-have tool in today’s business world.

Automate Your Work Process and Eliminate the Use of Paper

It’s the 21st century, and using paper-based solutions is out of date. Businesses around the globe shifted to digitalization years ago, and now is the time of automation. After all, why work hard when you can work smart, right?

Using software like QuickBooks, Xero, Sage X3, Odoo, etc. you can easily shift to a digital version of accounting very quickly. They also provide automation in various accounting tasks such as accounting reconciliation, sending and receiving invoices, bill reminders, etc. Using artificial intelligence and the latest technology, invoices can get automatically logged in as a PDF. It eliminates the need for storing invoices in a paper-based version, giving an environment-friendly solution. You can also access such software from your smartphone any time you want.

Use This Time to Attract Investment in Your Business

With the Coronavirus pandemic, many businesses around the world are losing their investments, and some are facing dire financial situations as well. In such times, it can be difficult for anyone to remain economically viable, but you can try to maintain your current position while leaving room for future investments.

As an accountant, you can begin by prioritizing tasks such as clearing previous accounts, organizing data to appear more systematic, and expanding your professional network. You may not get much business during this time, but you can share your valuable insights on professional networking sites like LinkedIn to assist others in your field. You can share some Covid-19-related tips for accountants, such as how to be more productive. It would passively assist you in increasing your credibility, making you appear investment or business-worthy.

Outsource your Accounting Work

During the pandemic, many businesses are facing financial difficulties, making it critical to find cost-effective solutions for managing operations. Outsourcing your accounting work can be an effective way to cut costs while maintaining quality. Countries such as India and the Philippines are known for producing highly skilled professionals at low cost, creating an excellent opportunity to leverage these resources. Outsourcing accounting and bookkeeping tasks allows you to concentrate on more strategic aspects of your business, such as expansion, networking, and sales development. 

Meru Accounting is an ideal business partner for all your outsourcing needs, offering a wide range of services from accounting to taxation. With us, you get the convenience of having everything you need in one place, ensuring efficiency and cost savings while you focus on growing your business.

Services Provided by Us

• Bookkeeping Services

• Payroll Management

• Receivables Management

• Setup Xero Software

• Payable Accounting

• Cloud AddOns

• Company Setup

• Odoo Development

Meru Accounting is India’s top accounting and bookkeeping outsourcing company delivering quality solutions for more than a decade now. We use the latest technology and have tie-ups with software like QuickBooks, Xero, FreshBooks, and more to ensure smooth and deliberated solutions for our clients. In addition to that, the best thing about us is that we provide highly competitive services at a very affordable rate. So, what are you waiting for? Get in touch with us now.

Brief for Graphics

The covid-19 pandemic has changed the business dynamics around the globe, in such times, it becomes essential to adopt the latest changes. Accountants can use these essential tips during COVID-19, to ensure the smooth and easy running of their businesses.

• Transfer your accounts to the cloud.

• Automate your work process.

• Get attractive for future investments.

• Outsource your accounting tasks.

Meru Accounting is the best bookkeeping outsourcing company delivering quality solutions for more than a decade. You can trust us with your business; get in touch with us now!