Cloud accounting platform, Rounded, has announced improvements to its sole trader app, enabling seamless sharing of data between its users and their accountants. It has also announced a directory for accountants with Rounded access to advertise to Rounded users.
Rounded for Accountants is free, enabling both read-only and edit access to client files. “Rounded provides intuitive and straightforward accounting solutions, specifically for sole-traders. Until now there was no way for them to share their data with their accountant at tax time, without supplying their own password, or exporting data to a spreadsheet,” says Rounded Chief Operating Officer and Co-Founder Oliver Garside.
“The new portal gives Accountants the access they need to ensure that their clients’ financial records are accurately filed, and the ability to amend as required when edit access is granted,” he continues.
Why is Rounded for Accountants relevant now?
The gig economy has been growing at a remarkable rate with The Deloitte Global Human Capital Trends Report for 2018 recently finding that the rise of the gig economy is on the radar of most companies globally, with 28 percent of the 11,000 companies surveyed anticipating an increase in gig workers when asked to forecast the makeup of their workforce in 2020. Around 37 per cent of survey respondents expected a rise in contractors and 33 per cent foresaw an increase in freelancers.
With that in mind, Rounded has created its product specifically for the sole trader market, and feels it is imperative that financial professionals are given the tools to market to and service to this specialized group of professionals.
“Like other small businesses, sole traders still need to be able to lodge their BAS or tax return in an accurate way, and the ATO has signaled its intention to focus on the gig economy going forward. Our software differs from larger competitors in providing only the features required by sole traders and freelancers with a price point to reflect that,” says Garside.
He continues: “Providing the accountant portal at no cost is a win win. Our Rounded clients are able to share their data with their financial professional without having to sign up to larger and more expensive accounting packages, while accountants with access are able to market their services free of charge to this growing segment of the workforce.
“We are also in the process of developing an accountant referral program. Future plans include investigating ways to maximise functionality for accountants.”
To sign up for Rounded for Accountants, please visit here.