By Claire West
In an effort to get small business owners and their accountants closer together so that they can better understand each others needs, an accounting software company is launching a campaign to get Thursday October 25th recognised as National Hug Your Accountant Day.
A leading accounting software company has today written to the heads of UK business organisations such as the Department for Trade and Industry, Confederation of British Industry, Institute of Directors and Federation of Small Businesses calling for October the 25th to be named “National Hug Your Accountant” day.
KashFlow’s light-hearted campaign to launch “National Hug Your Accountant Day” has a serious element as it is aimed at bringing accountants and their clients closer together so that both parties can get a better understanding of the pressures they face.
According to Companies House most recent statistics, in the 2004/5 financial year, across England, Wales and Scotland 203,111 private and limited companies were fined for submitting late accounts.
KashFlow’s own research has shown that accountants think small business owners need to do more to understand the value of accurate and timely record keeping to avoid fines and likewise small business owners believe that they should be left to concentrate on running their business and worry about the accounts at a later date.
The accounting software company KashFlow is in a unique position in that it is well used by small to medium sized enterprises to record and keep track of their day to day accounting and bookkeeping, but is also a solution provider to accountants themselves who use the data their clients enter to form various financial reports and year end accounts.
It is anticipated that the effect of bringing accountants and business owners together will mean more accounts being filed on time and less fines for small business owners.
Speaking about National Hug Your Accountant Day Duane Jackson, Managing Director of KashFlow said,
“The great thing about our campaign is that it is a fun way to address a very serious issue. A large number of small business owners do not realise the importance of keeping accurate financial records until it is too late and I think business owners would like accountants to have a better understanding of what entrepreneurial spirit is all about”.