Traditional accounting methods , in which documents and information reach the desk of the accountant just a few days before the tax deadline, have proved to be inefficient and slow in today’s business environment.

This workflow also generates virtually insurmountable peaks of workload to the detriment of the clients, who are doomed to wait forever to receive their results and get a clue of how much the tax bill will be.

Not to mentioned the waste of paper, the rush of the last minute and the impossibility to make adjustments to reduce the tax liability

Development of new technologies has completely transformed the way we do business and particularly administration and accounting: IA and business intelligence are making traditional accounting methods obsolete.

Welcome to collaborative accounting.

Today, technology enables accounting firms to serve clients with speed and efficiency, offering quick response to questions and exchange of data and documents.

With appropriate web-based platforms, such as Quipu, true collaboration in real time between business owners and the accounting team is not only possible but it will bring about …

• Efficient ways to administer the business. 
• Adaptation to new requirements of Tax authorities
• Obtaining precise and updated information. 
• Obtaining meaningful advice from your accounting firm.

Efficient way to administer the business.

Business owners and accountants are working together on the same environment. There is no double work , where the first produces documents and reports for the second to type again in his accounting software.

When a new invoice is generated by the business, the accountant can validate it or correct it. When new expenses are included, the accountant can do the same.

Read: Save up to 10 hours of administration per week

The accountant is no longer someone to visit during tax season, but someone who supervises that everything is done correctly.

Adaptation to new requirements of Tax authorities

The Tax Agency is committed to the upgrading and modernization of accounting. It is implementing new systems in which the information is immediately submitted. This is now being required of sizable companies but it will soon be extended to small and medium size businesses.

Obtaining precise and updated information. 

With real time access to latest information about their business, decision makers can adapt better to changing circumstances.

Obtaining meaningful advice of your accounting firm.

Collaborative accounting allows the tax adviser to see all relevant information in real time. This enables him to change from a reactive mode to a pro-active one, giving timely advise when needed.

LimitConsulting is the number one collaborative accounting firm that provides service exclusively in English for all the Spain’s territories. Learn more about the services that we provide.