Multi-award winning accountancy firm 1 Accounts Online Ltd is celebrating success as it enters into a fifth year of business with ambitious growth plans for 2018.
1 Accounts was established by Paul Donno in December 2013. The aim of the new business was to offer clients an alternative to the traditional accounting model through the use of cloud based solutions.
The company began operating from a home office with just 2 members of staff and a handful of clients.
Fast forward to December 2017 and the number of clients has increased to over 160. Additional staff have been recruited to support the growing client portfolio. The team now stands at seven, including two Chartered Accountants and two apprentices. The company is committed to the apprenticeship scheme and developing talent internally.
An expanding team
1 Accounts has moved offices twice in the last four years to accommodate the expanding team and now occupies a large, modern office space in Haverhill High Street. In July Paul partnered with Cambridge businessman Mark Coplowe to launch 1 Accounts Cambridge to extend the company’s reach into Cambridgeshire.
1 Accounts has been recognised with a number of national accolades and awards including Highly Commended for the British Accountancy Awards in 2013 and 2014 and Winner of the Best New Practice Award in 2016. They were also awarded Most Innovative Sole Practitioner in the 2020 Innovation Awards in 2016 and in November this year were shortlisted for the Practice Excellence Pioneer of the Year Award.
Paul and the team have ambitious plans for this year and they are looking forward to pursuing the opportunities that the future holds.
“I have always enjoyed being an early adopter of technology and saw the potential of cloud based accounting from the very beginning. Starting a new company based solely on a cloud based service was a risk but I am delighted to say that it has paid off.
“We have carved a niche as experts in the online accounting arena and have formed solid relationships with the leading providers of online accounting software – Sage and Xero.
“We are using the technology to do things differently to a traditional accountant. No time sheets, fixed fees paid by monthly direct debit and we use the software to automate the compliance. We can then use the time saved to add value to the client’s business.
“This approach works really well, as can be seen by our growth over the last four years. I am confident that, with our talented team and investment in systems and processes, we will continue to go from strength to strength.“