Five Ways to Save With an Accountant

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Accountancy is a service that many businesses cannot go without, and whilst a small company may be able to scrape by at first, poor bookkeeping can seriously hinder any businesses ability to grow beyond small and otherwise unsustainable levels of profit. Yet taking that first step and employing the services of an accountant can all too often feel like a lavish expense rather than an immediate requirement.

However, their services can often be cheaper than initially thought, and the advantages they offer can greatly outweigh the costs. Here are five ways that an accountant can save your business money, help you make more money and offer a more secure future.

Efficiency

Tax law is often complex and technical, but what’s more is that it is ever changing. An accountant however is fully aware of legal requirements and cut off dates, so any looming deadlines are achieved with plenty of time. This not only avoids paying fines but also means that because of ample preparation provided by a professional accountant, your books are as efficient as possible meaning that you never have to pay more tax than is legally required.

Tailored

An accountants services are more flexible than you may realise. Many accountant offer a service that can be specially tailored to your needs. From the full-time in-house accountant who works on a whole range of figures, to the part time accountant, who may simply do the end of year tax return or offer advice with regards to better practices. The flexibility of an accountant can provide your business with the necessary support, but only when you need it.

Technology

If you do choose to take on their services part time, one of the most advantageous features that they can offer is access to user friendly bookkeeping software. This means that whilst they are away, you can upload all the relevant information into the programme, helping you to maintain clear and accurate bookkeeping. Furthermore, the software allows your accountant to log in remotely, so they can keep an eye on progress helping to identify any problems and the necessary solution before its too late.

Advice

Advice is something that is often in high demand, but never more so if you are working alone. An accountant however is able to use their industry experience to advise on business models, which can help you plan for the future. With their understanding of your finances they are able to suggest when to invest, or alternatively when a more conservative approach is needed. Essentially an accountant can act as a springboard for all your financial questions, and these services are often included with no additional charge.

Precious Time

Finally, but most importantly an accountant can save you time. If it’s true what they say, and time is money, then an accountant can be one of the most important investments that you make. By employing an accountant, at whatever level, they offer you the freedom to walk away from the accounts and focus on what your business needs you to do the most. In order to succeed you need to be dynamic and responsive to many different market factors. An Accountant can free you from unwanted responsibilities and in doing so offers you the chance to focus on success, rather than worrying about tax and deadlines.

Source: Research

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