If you’re a business owner or freelancer, you might be debating whether you actually need an accountant or not. It’s a question that you may have been going over for a while, or it might have just jumped into your head when considering hiring someone. There are many positives about having a business accountant. In this week’s blog post we look at the just what an accountant brings to your working setup and why it’s a great idea to hire one.
We so often focus on the money we’re spending. Thinking that the amount that you’d pay an accountant could be saved and put towards the business, or home life. However, the professional accountant will be able to save you far more money than you realise. Using their expert knowledge they’ll more than likely be able to reduce how much tax you owe.
As the saying goes, time is money. Having an accountant frees you up to spend time actually working on your business. An accountant does these things day in day out so will be able to do these tasks much quicker than you can, using far superior knowledge.
It also allows you to concentrate on the business. Push harder, work smarter, have a clearer view without the cloud of finance and keeping the books up to date. When you are able to increase your profits and smash through your targets, the nominal bookkeeping fee won’t be a problem.
Having an accountant is an asset to your business because they’ve experience in seeing businesses succeed and fail. They can be used as a soundboard to new ideas, a finance head to your perhaps creative mind. It’s having a fresh set of eyes on your work, valued insight which can help your business grow. It’s in the interest of the accountant that your business does well and their advice could help your business go from survive to thrive.
Delegation is a great thing and it can help you sleep better. Why worry about those expenses or that tax return? Put it in the hands of a professional instead. They know the latest tax laws, the up to date regulations & those all-important deadlines. They understand what HM Revenue and Customs need in terms of paperwork which save you clicking through their website for hours on end looking for it. This frees you up from the responsibility and lets you create a better work life balance too.
If you have questions or concerns, you have a professional on hand to answer your questions. They can help you understand the figures on the page and the impact that your finances are having on the business. If you were to need to go to the bank for a loan, or were looking for an investment of funds, you’ll probably be looked at as more professional.
These are just a handful of many reasons as to why you should employ an accountant. It’s an expense which pays back and beyond. Working with an accountant is not only good for business, it makes life better.