Whether you are at the head of a start-up or a big box, recruiting an accountant is essential to ensure the development of your business. If you are skeptical about entrusting the financial management of your business to a stranger, here are some good reasons to convince you to hire an accountant.
Respect For Deadlines
It seems the regulatory burden on small business owners is increasing every day. Depending on the structure of your business and the type of business you operate, tax filing deadlines must be met at the risk of paying fines and penalties. Having your accountant means deadlines won’t catch you off guard, and you’ll avoid the last-minute rush. A good accountant can also direct you to the best resources to automate tedious and time-consuming tasks.
Informed Decision Making
A business owner is adept at juggling multiple roles at once – he’s acting as a hiring manager one minute and a marketing manager the next. However, it may be late for new regulations in force and new legislation concerning business management.
That’s why having an accountant such as Lewis CPA for example who knows the financial health of your business means having access to quality information when you need it, making it easier to make decisions. You will reduce your margins of error thanks to the help provided by your accountant, so do not hesitate to call on him for timely information updates.
Growth Management
Do you know that growing too fast can kill a business? This is the irony that all entrepreneurs share. For this reason, it is wise to plan for the business’s growth and make the right decisions in the face of possible changes, such as additions to your product line or expansion to new sites. This type of planning, easily using the information provided by accountants, is the only way to manage growth and avoid disaster successfully!
Why Hire An Accountant When I Already Have An Accountant?
Believe it or not, not all of your business finances fall under accounting, and accountants who help Payroll Year-End Checklist for Small Business and bookkeepers are not interchangeable parts. Some owners believe they can go to their accountant with all their paperwork, wait a few months, and presto! All their financial statements are in order.
Your accountant – who is usually a CPA and has absolutely no problem charging you $150/hour minimum to do your books from the comfort of their mahogany desk – normally doesn’t. Compatible. Or like accounting. Or derive any pleasure from it.
Accounting is a complicated and mundane job. Stop and think about the patience and precision it would take to maintain the plateau on the bank reconciliation every time, let alone all the tasks listed above.
