Accounting is not easy. The millions of us who are self-employed know it. Every year-end is an enormous hassle, and we start scraping together our receipts and paperwork to file our tax returns as the work piles on. As a self-employed person or small business owner, hiring an accountant might seem like a step backwards, but the truth is that there are many accounting firms out there that are happy to take as much – or as little – off your plate as you like. Here are some excellent reasons to enlist the help of a chartered accountant that you might really not have thought of:
Flexibility – Nowadays it is possible to get the help of an accountant for the smallest or the biggest things. If you’re on a tight budget and don’t want to spend too much, there’s a good chance there’s still a service for you. Accountants can offer a bespoke service specifically tailored to your business needs. One year you might want them to just look at your compliance level or your tax returns, next year you might want them to effectively run the “back of house” side of your business. Before you write off the prospect of an accountant, consider the various options.
More than just clipboards and calculators – Accountants aren’t just there to crunch numbers. Well, some of them are if that’s all you need, but most Well Accounting firms will offer a service that goes well beyond arithmetic. They can give strategic advice, interpret numbers and help you make important calls. They can advise you on where your business is headed and often anticipate problems before they really happen. Having an accountant on your payroll is an excellent tool and safety net to ensure your business stays strong and healthy, and you make the right decisions to keep it that way.
Scheduling and organization – Staying on schedule, especially when you’re self-employed, can be incredibly difficult. Whether it’s preparing tax returns, paying employees, paying bills, or chasing down debtors, it’s not easy to always know where you stand with everything. As well as giving you wise advice and crunching numbers, an accountant can serve as an excellent backbone for your business, reminding you of important milestones and events that you might otherwise miss.