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More and more lawyers and accountants are leveraging the internet  to provide their services. Few, however, have embraced the internet fully and made their practices completely virtual. At Wires Law we’ve committed to finding ways to leverage the internet and provide a completely virtual service. While we still offer in person meetings for those clients who want to meet face-to-face, a complety virtual option exists.

Our clients often ask for referrals to an accountant and until now, we’ve have had trouble making a recommendation to a firm that matches our virtual offering. We’ve found that the virtual solution is appealing for our clients, specifically for those whose offices are outside Toronto. While we have worked with lots of great accountants, online accounting firm Xen Accounting provides an affordable fixed price solution for our smaller clients. They gear their solution specifically towards micro-businesses, consultants and freelancers.

Here is Ryan Lazanis, the founder of Xen Accounting, on what exactly his cloud based accounting practice entails.

Enter Ryan

We at Xen Accounting would like to introduce ourselves and also welcome you to the beautiful world of online accounting! Exciting isn’t it? Well, not exactly for most of you out there… Accounting has always been seen as a boring, frustrating and let’s face it, less than fun type of necessary evil that all businesses have to deal with.

But the tide is turning, feathers are being ruffled and times are changing…

What is Cloud Accounting?

Online or cloud accounting is a relatively new phenomenon. Online accounting basically means to offer accounting services virtually. Today, accountants like us are making use of new technologies to not only help facilitate things for business owners and accountants alike, but are actually kind of making things, dare we say, fun, and we’re super excited about that.

Personally speaking, I’ve always been fascinated with new technology in general. Anything from computers to tablets, mobile phones, DJ equipment (being a former Montreal DJ myself) and cool new software, I have always had my ear to the ground on exciting new technological product offerings.

Although accounting in general has traditionally made people yawn of boredom, that hasn’t stopped technology from introducing some nifty new gadgets and apps into the industry. So nifty actually, that I’ve had a hard time not sharing the news with friends and colleagues.

For instance, cloud accounting software, in my opinion, is a massive step forward for accountants like us, and business owners like you. When I first tried Kashoo, weird as it may sound, I actually had fun using it. It was simple, easy and intuitive, anyone without an accounting degree could use it, exactly the way accounting software should have been built in the first place. Like many other cloud accounting solutions, it connects right to your bank to eliminate much of the manual data entry and real time financial information is available right at your fingertips to help you make up to the second business decisions. Is Kashoo right for every business out there? Absolutely not. But the businesses it does work well for, it works wonders. And the same can be said about countless other types of software and apps for businesses today.

Ditching Receipts

How about ditching that shoebox full of receipts and instead let a company called Receipt Bank extract the data themselves? All you need to do is take a picture of the receipt with your smartphone, that’s it, that’s all, Receipt Bank will do the rest and you can even export directly to Xero, another popular cloud accounting software. No more Excel spreadsheets, no more shoeboxes full of little bits of receipts.

A cloud accountant should be able to identify these new online technologies and recommend them based on the situation and business they are dealing with and this is really what is setting apart modern day accountants with traditional ones. Online accountants are adapting to the way business is handled in today’s internet era.

As technology evolves, business owners are looking to their accountant to not only consult on matters relating to their company’s finances, but are also looking to them for advice on how different technological products can be implemented to help save them time, money and make the business run smoother.

Easier and Less Time Consuming

New accounting technology is not just there to look shiny and nice. Its purpose is to make accounting easier, less time consuming and allow you to use better, more up to date information for decision making purposes. This is the moto at Xen Accounting, and I’m sure this is the moto of many online accounting firms around the world… To make your accounting process smoother, more convenient and to give you the tools needed to help your business grow.

Real Time Accounting Data

As someone who has worked in public practice dealing with micro businesses for many years, I started Xen Accouting recognizing that small businesses like yours are a special breed who require up to the minute information to help you make quick decisions, and, being a virtual firm, a Chartered Professional Accountant is able to service your needs whenever you need it and wherever you are.

And we come full circle to much of the reason why we are offering online accounting services… To improve the service YOU, our clients, receive, to make it faster, easier and more convenient.

Faster, easier, more convenient and up to the minute information. This is what online accounting is about.

Ryan Lazanis, CPA, CA

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About Xen Accounting

Xen Accounting is an online CPA, CA firm geared towards micro businesses, consultants and freelancers. For any questions, call 1-855-692-4062 or email info@xenaccounting.com.

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John Wires is the founder of Wires Law, a law firm serving corporate, technology and e-commerce clients across Canada. John comes from a corporate litigation background. He has appeared in the Ontario Superior Court, the Ontario Court of Appeal and private arbitrations. He graduated from law school with first class honours specializing in both international trade and corporate commercial law.