2020 has indeed been a year for change. The changes that we see in 2020 are not only going to affect the way public health and safety is viewed but also the way we work and approach the workplace. A new flexibility has been put in place due to dire need but gradually as the vaccines come in and hopefully the pandemic situation wanes what will the future look like? Experts warn us from thinking the vaccine effect to be immediate. They predict at least a year of uncertainty as immediate vaccine distribution may not be possible. So working from home is still very much a part of the future especially in accounting and taxation.

The wonders of access

Accounting formerly had been perceived to be an orthodox profession that followed the traditional approach with face to face dealing preferred. However, with COVID-19 and the imposition of the concept of social distancing plus the lockdowns, meeting your accountant face to face has become a taboo. On the plus side, has been proven unnecessary when everything can be done from the comfort of your home and office and that too at a time of your convenience.

How can the future trend of working from homes of accountants benefit business owners?

Having an in-house accountant is more expensive and, in most cases, unrequited. Hence, having someone working on a job-to-job basis where you would be billed hourly is economically better. However, if your accountant is working from home then communicating is easier as there will be more channels of connectivity that will be open.

Upgraded Accountancy – what you should be getting from your accountant

Even if you are uncomfortable with cloud working you can still reap the benefits of technology by communicating with your accountant telephonically or via email. The latter proves to be more efficient as this way you have the physical copy of all instructions conveyed for your reference. If you still feel the need to speak on a face-to-face basis then you can simply opt for video conferencing. Applications like Zoom have really done good business during the lockdowns due to people’s increasing reliance on technology; and perhaps that is not such a bad thing if it can be used to your advantage.

Doshi Accountants has always held the position of a pioneer in the accountancy field. Despite the fact that COVID-19 has become a reality only this year, there have been firms like Doshi Accountants that have worked towards making their client’s accounting experience even easier by working through remote access and providing bespoke services like payroll within twenty-four hours if the need is immediate. Accounting services are required be it for a small business or even a startup. Therefore, in these pandemic times, to have your accountant available even on Skype and Facetime makes things all the more stress free.

Even the HMRC is going paperless

In 2014 with the introduction of Real Time Information (RTI) the HMRC did away with the cumbersome process of filing paper reports for PAYE. Now, with MTD one can easily perceive that the trend is more towards making things digital. Employers of large firms are finding that they are having a reduction in operational costs by keeping their employees working from home while as at the same time increasing employee morale (due to less childcare worries) while still being able to take care of work. Accounting work especially does no longer need physical files and with remote software things have become easier. By using cloud accounting software things are even more easy because you need not worry about system space and updates as everything is present via your internet connection.

The pandemic has now proved that working remotely is possible. This will promote possibly more of such paperless working. Furlough claims, self-employed grants and the like are all applied for via the HMRC’s website. These can either be done (in the case of furlough) by the employer or by the accountant or agent.

How do employees stand to gain?

The day -to-day commute is what is most dreaded by a majority of employees, ever heard of the Monday blues? When employees are working from home, they are happier as they save on travelling costs as well as the stress and discomforts of traveling. This would indirectly boost productivity along with the fact that employers need not worry about social distancing or workstations. Fewer leaves too are a direct consequence as well as better staff retention as employees will be in a happier state of mind. Countless times it has been pointed out that employees mostly take sick leave when they are simply just not feeling like going to the office. Furthermore, having freelancers widens the talent pool for the employer.

Remember though – one size does not fit all!

Not all employers can offer this facility as there are jobs where being physically present is a must. Thus, though grocery clerks or paramedics and those working in the emergency room can’t take the privilege, at least one can benefit while doing one’s accounts! Business accounting is one of those jobs that mainly needs a computer and good internet connectivity. Hence, it is no wonder that new age accountancy has so readily embraced working from home and probably will continue to reap the benefits even post the pandemic. The future of accountancy therefore, is no more in stuffy offices with accountants condemned to drink filtered coffee through a coffee machine. Accounting is becoming more flexible and versatile. Firms like Doshi Accountants will assist in making this move even more to their clients’ benefit. After all, think Doshi, think differently.