What is OART accounting service and what makes it different.


OART (Online Account in Real Time), to put it simply, is a product provided by UPECO Ltd. aiming exclusively at keeping professionals up-to-date regarding their financial situation in real time.

Let us see the product in detail as well as the reasons behind it.

We live in a digitised era. It means that the virtual world, even if it sounds paradoxical, is an integral part of the real and without it, a business direction has a regressive path.

TODAY’S DIGITAL ACCOUNTING INFORMATION

Modern accounting businesses offer electronic information services with regards to their clients’ financial and tax situation. It means that the accountant informs their customers about their financial and tax affairs using digital technologies such as cloud accounting software, in terms of professionalism. To put it simply, clients can keep up-to-date faster and more accurately regarding their financial and tax status on the computer using internet technologies.

This can be achieved if one has an electronic account and when accessing it, can view all its necessary personal information. Some of the leading software companies in England offering such accounts are SAGE, Quickbooks, Xero etc.

CURRENT SYSTEMS GAP

In order for someone to view their financial status via these FinTechs, one must have entered their details, i.e. their revenue, expenses, assets acquisition etc.

1st GAP - Accounting companies make their clients enter the details themselves to the above mentioned software. This is a problem as it requires some at least basic knowledge on software, accounting and apparently valuable time. But the worst-case scenario is the corrections that may be needed if mistakes are made during details entry and whatever other issues this may bring. In other words, the client is required to learn accounting in technical terms and not institutional, which we too consider necessary if one wishes to know and manage their capitals effectively.

2nd GAP – In cases where the accounting companies enter the financial details, many of them do not give access to their clients’ accounts. This is not because they do not wish the client to monitor how well or how much the accountant work but many times they are being cautious as a client might cause a technical problem (although good software do have a setting for account access). When access is given to clients, high charges usually apply. Moreover, there is always the possibility that the accountant does not have these cloud tools in which case we do not talk about online information and the client remains in the dark until they contact their accountant every time they need an update.

3rd GAP - Let us suppose that problems 1 and 2 do not exist, if for example the accounting company enters the financial details and gives access to the software with very low charges. The problem, for many, lays in the complex menus of the software, especially for those who are totally unfamiliar with new technologies and accounting terminology.

THE OART AND ITS BENEFITS

Taking the above into consideration, our company took extra care to connect its cloud software to the official website in its own way in order to update its clients simply, fast and without jargons.

The process:

1. Forward your invoices for revenue and expenses to UPECO by clicking only one button on the official website.

2. Allow us some time to process the data provided.

3. Log in to your free OART account and view through comprehensible and interactive graphs. your financial and tax affairs.

Yes, this is the process of our company procedures and information. In addition, our clients can now view customised information upon request, have detailed financial ratios, statistical measuring assessments, interactive comparisons and so much more. To put it simply, our OART is simpler to operate but can picture more complex measurements of information.

Please note that OART is available free of charge to all our monthly accounting support and consultation subscribers

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Translated / Edited by, Apostolia Nestoratou.

© 2018 UPECO LTD

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Attention! This article intends to give only a general informative picture and should not, in any case, be taken as a rule. It is strongly recommended to seek a full and professional guidance specifically for your circumstances before making any decisions.

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