Do You Need a Business Accountant? Answer these 5 Questions
At every stage of your business’s growth there are good reasons for hiring a professional accountant. From start up to established entity, there are always challenges and opportunities where the addition of an accountant to your team will make a positive difference. If you are wondering if now is the time to hire – try answering these questions.
- Are You Making Good Use of Your Time?
It may seem more expensive to have to hire an accountant than do the accounts yourself but ask yourself if you are spending valuable time on tasks that could be handled by someone else, at a more economical rate. Your time is highly valuable – do you need to spend it on accounting tasks? Are you making the absolute best use of your time? If you get an accountant to handle the time consuming accounts tasks that you take on every week, you free up your time to do something more valuable that will generate revenue for the company.
- Are You Completely Accurate?
You also need to consider whether you are always completely accurate and get every task completed correctly. Small mistakes can mean a big fee when it comes to tax return time, and it is annoying to have to check every small detail to make sure you are not making any errors. One of the professional accountants central London provides will take this worry away – you can rest assured that your accounts will be accurate and that you will not be faced with any unexpected fines or run into legal problems in the future.
- Are You Setting Up a Company?
In the initial stages of setting up a company, an accountant can be extremely useful, even at the business plan stage. When an accountant assists you with a business plan you benefit from the addition of accurate and relevant financial data that makes the plan usable and more likely to win you funding. You are also likely to need professional help with setting up the company’s legal structure.
- Are Your Finances Out of Control?
Do you know accurately how much money has come from which sources, and how much you owe to each entity and where this money will come from? There are many reasons for using an accountant to help sort out your finances – you steer clear of legal trouble, and you maximise profitability and accountability.
- Do You Need Expert Help?
Are you dealing with a legal issue where you need complete understanding of your finances? Do you want a professional to deal with your tax return so that you can clear up a problem or learn how to save a considerable amount of money? Now is a good time to hire an accountant.
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