Startup: Accounts Team

- November 14, 2011 2 MIN READ

Australia’s first full cloud outsourced accounting department for small businesses, AccountsTeam, has launched today to give small businesses access to the level of service and experience that has traditionally only been available to large corporations.
Small businesses no longer need to purchase accounting software, work with both a bookkeeper and accountant, or have an accounts team in their office.  Its team of qualified senior accountants provide professional accounting services to help small businesses control and grow their finances.
Launching today, the new service provides an integrated resource for clients’ accounting, compliance and business advisory needs via an online portal and cloud computing. The services provided by AccountsTeam also include virtual CFO, bookkeeping, financial reporting, payroll, inventory and point of sale services. www.accountsteam.com.au
“Small business owners often express their frustration at being bogged down with administration and accounting instead of focusing on building their businesses. They need a service that can take care of everything from record keeping to bookkeeping and tax,” explained Rener Lao, CPA and founder of AccountsTeam.
AccountsTeam offers outsourced accounting department services on demand, using cloud technology that allows business owners to stay in control of their finances and access their documents and data 24/7.
Ultimately, AccountsTeam aims to help small businesses become automated, systemised and well run, allowing business owners to focus on doing what they love. As clients do not have to spend time and money on installing, upgrading and maintaining systems, storage and software, or paying for full or part time bookkeepers and accountants, they can invest more into growing their business.

AccountsTeam was founded by Rener Lao who previously worked as CFO for a group of companies providing support services for Australian and multi-national companies in 90 countries. Realising that this concept of shared services – specifically a centralised accounting and finance department – would be invaluable to small businesses in Australia, he founded AccountsTeam with the goal of providing top-quality shared accounting services and technology to Australian small businesses.
In the traditional bookkeeper-client-accountant relationship, data and documents are stored and managed separately, leading to duplication of effort and wasted time. AccountsTeam shares real-time data and documents with their clients, even allowing a synchronisation of due dates so everything runs on time. This eliminates inefficiencies from double handling of information and time wasted from swapping or fixing inaccurate data and missed communications.
More than just an agent for the tax office, AccountsTeam works collaboratively with business owners to help them get better at understanding their financials, helping them grow their businesses. Solutions are scalable and fixed-fee so there are none of the nasty surprises that clients can receive when their accountants charge by the hour.