The Future Is Here: Why Should You Switch To An Online Accountant?

With the advent of modern technology, people are used to getting what they want, when they want it, from the comfort of their own homes. Service providers such as doctors, lawyers, and psychologists are all transitioning to offering online services, so Thornton & Associates’ team thought it was high-time accountants did the same. When you meet with a Thornton & Associates’ online accountant, you’ll be able to access the same premium-quality services as you would from a face-to-face accountant. Here are a few reasons why you should make the switch to a virtual accountant today.

How to Get More Out Of Your Xero Accounting Software

• Perform quick actions. On the dashboard’s top right, you’ll see a + icon, click on it to quickly access several different functions.

• Preview your books. The Demo Company feature allows you to experiment with test data so that you can preview transactions, reports, and features separate from your actual business data.

• Utilise bank rules. Whether it’s a quick coffee in the morning or lunch with a prospective client, there are always day-to-day costs when running a business. When you enter those transactions into Xero, you can use bank rules to categorise them automatically.

• Use the Budget Manager. By using the Budget Manager feature, you can gain valuable insights into your business. This feature helps you to prepare budgets and compare against performance from other periods.

How Is An Online Accountant Different From An In-Person Accounting Service?

One of the key differences between an online accountant and a traditional accountant is blatantly apparent; one is online and the other you have to visit in-person. Aside from this, there are a few other key differences between the two.

• Digital accountants offer more flexibility. Whether you’re a sole trader or you own a large company, your time is valuable; so it’s essential to hire the services of an accountant who’ll work with your schedule. Online accounting provides you with the freedom to organise appointments when it suits you. Plus, you’ll never have to leave your office to attend, meaning you can fit an accounting appointment into your calendar with ease.

• It can be far more efficient. At Thornton & Associates, we use online accounting software such as Xero to make the tracking and reporting process far more streamlined and efficient.

• We’re ready and willing to adapt. At Thornton & Associates, we’re committed to being pioneers in the newest technology and online accounting software, so you’ll be confident knowing your business has access to the very best accounting and bookkeeping services available.

How Xero Accounting Makes Your Business Run More Smoothly

Do you have your own business but find it hard dealing with the accounting side of things? At Thornton & Associates, we specialise in helping clients successfully run their businesses, and we’ve seen first-hand the benefits of Xero accounting software. With a range of features and services that come with using Xero Accounting, its user-friendly interface allows you to run your business more smoothly.

Why Thornton & Associates Are Xero Partners

Xero is the most powerful growing and mid-sized accounting platform in the world. With its easy user interface and range of features allowing business owners to excel, it’s the reason why we are proud Xero partners.

Whether your business is using Xero or another accounting product, Thornton & Associates can assist you in transitioning to Xero, and we’ll empower you to use its innovative features in your day-to-day operations.

The Benefits of Hiring an Online Accountant

There are countless benefits you’ll enjoy if you hire an online accountant to take care of your business’s financial needs. Here are just a handful of the advantages you’ll gain.

• Better communication. One of the best aspects of online accounting is the myriad of ways you can contact your accountant. We have options for email, phone call, text, direct message, and video calls, so you’ll always be able to speak with your accountant on your terms.

• Your accountant is now portable. Whether you’re holidaying on the Whitsundays or commuting to a meeting, you’ll be able to check-in with your accountant wherever it’s convenient for you. You can use a laptop, smartphone, tablet, or smartwatch; wherever you have access to the internet, you’ll have access to your online accountant.

• Better, faster advice. Thornton & Associates use state-of-the-art Xero online accounting software which enables us to see your accounts in real-time. This makes forecasting and providing realistic, timely advice far easier.

• Paperless is better. Not only will you be reducing your carbon footprint by choosing digital accountants, but you’ll also be reducing clutter within your office! You won’t need to hold onto paperwork that’ll sit clogging up your filing cabinet. Instead, everything you need for your business’s accounts will be accessible online. Rather than shuffling through stacks of paper to find the report or budget you’re after, simply search in your business’s online database and have the document you need in seconds.

Why Choose Thornton & Associates’ Digital Accountants?

If you’re wondering what sets Thornton & Associates apart from other digital accountants in Sydney, here are a few things that keep our clients coming back.

• We offer a vast range of digital services. Although our accounting firm is 100% paperless and online, we provide the same range of services as any other Sydney accountants. We can help you with:

  • Payroll and bookkeeping

  • Training for Xero accounting systems

  • Reporting as needed for your business

  • Wealth growth strategies

  • Income tax services for individuals, sole traders, and businesses

  • Business advisory services

• We have plenty of experience. Our accounting team has years of accounting and bookkeeping experience across several industries. We’ve worked with businesses of all shapes and sizes, so you can rest assured that your accounts are in the very best of hands.

• We’re passionate about your business. At Thornton & Associates, we want to see your business grow and flourish. We work closely with our clients to provide tailored, insightful accounting solutions that allow them to refocus their attention on other aspects of the business.

• We’re renowned for our customer service. Communication is our number one priority. The Thornton & Associates team understands the importance of clear, honest communication, so we’ll make sure you’re always informed on all aspects of your business’s accounts. If you ever have questions about your finances, budgets, forecasts, or you’re seeking advice to grow your business, your virtual accountant at Thornton & Associates is always ready and willing to help.

The Benefits of Using Xero Accounting

At Thornton & Associates, we are proud Xero Accounting partners. Our clients enjoy the benefits Xero offers day in, day out.

• A clear overview. Xero has an excellent dashboard feature, which lets business owners see how much money is going out and coming in. This display also provides links to your accounts’ essential parts and gives you a brief overview of your overall expenses, creditors, debtors, and bank balances.

• Access from anywhere. Since this accounting software is cloud-based, it means you can work from wherever you want, whenever you want, without being limited to one PC. Another significant benefit is that you can access this software from your smartphone without requiring any software installation.

• Easy creating and tracking invoices. Not only are your invoices customised to suit your business needs on the Xero Accounting Software, but creating and monitoring them is made easy too! All you have to do is click a few things, create an invoice, and email it to the recipient. As soon as you create an invoice, it’s automatically saved, which allows for the easy tracking of payments.

• Inventory management. Unlike its competitor, QuickBooks, which only provides inventory management on their Plus Plan, with Xero Accounting, you can have access to inventory management on all plans. If you own an inventory-heavy business, Xero Accounting tracks your inventory without requiring you to pay fees on upgraded plans.

Contact Thornton & Associates for All Your Online Accounting Needs

At Thornton & Associates, we do things a little differently. Even though the world is changing, evolving, and becoming more digitised, we noticed that the accounting industry lagged. We decided to bring innovation to accounting and become one of the first completely paperless practices in Sydney. We’re committed to using cutting edge technology and the latest accountancy software to provide our clients with practical, tailored accounting and business solutions. No matter what industry you’re in, Thornton & Associates can help you with all your finance management needs. When you need an online accountant, the team at Thornton & Associates can help. Give us a call or email us today to find out how we can help your business grow.

Our Story

Thornton & Associates was established to address the severely under serviced needs of growing and mid-sized enterprises in Australia. These businesses were in need of two tiers of help, that typically only large and multinational corporates were able to avail themselves of: firstly, the automation of basic day-to-day accounting operations; and secondly the provision of timely business consulting and tax advisory that is enabled when the books are able to take care of themselves.

As this two-tiered service strategy permeated the market, clients of Thornton & Associates realised that the considerable time and effort spent keeping ahead of accounting work that our firm could automate, is overwhelmingly better spent leading and strategising the operations of their respective businesses — and resulted in enduring business success.

Certified Xero Accountants

Xero is the most powerful growing and mid-sized accounting platform in the world, and is what enables Thornton & Associates accountants and business consultants to excel in servicing its clientele. Whether your business is using Xero or using another accounting product, Thornton & Associates can assist you in transitioning to Xero or empower you to use Xero to the fullest extent available by its constantly evolving and newer features.