A first book and continued growth for Haverhill accountancy founder
Multi-award winning Haverhill accountancy firm 1 Accounts Online Ltd has entered its fifth year of business with ambitious growth plans.
1 Accounts founder, Paul Donno, also launched his first book, “From Boring to Soaring” last month.
Paul founded 1 Accounts in December 2013 with the aim of offering clients an alternative to the traditional accounting model through the use of cloud based solutions.
The company began in a home office with just two staff and a handful of clients, a number that now stands at more than 160 clients.
There are now seven staff including two chartered accountants and two apprentices.
The expansion has led to 1 Accounts now occupying a large, modern office space in Haverhill High Street.
From Boring to Soaring provides a frank insight into Paul’s business journey and the transition to a cloud based model.
It offers small business owners, in all industry sectors, practical advice from lessons learnt, often the hard way.
All proceeds from the book are being donated to the Little People UK charity.
Paul said: “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 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.”
Paul and the team have ambitious plans for 2018, including the recruitment of a Practice Manager to support the increasing portfolio of clients.
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.