It is always a smart move to hire an accountant to look after your business finances. Whether your business is just starting out, or if you’re up and running but looking to expand, today we are going to discuss why every business needs a good accountant.
1. Save Money
Hiring an accountant isn’t as expensive as people think. A good accountant will be able to highlight areas where you could be saving money. This can include helping you claim all the expenses you are entitled to. And this means that they could end up saving you a lot of money at tax time.
However, remember the old saying, you get what you pay for. This is true when it comes to all areas of our lives, including choosing an accountant. The cheapest option isn’t always the best, and what might seem too good to be true, is just that. It is important that you invest in a good accountant who can add value to your business, giving you advice that could very well end up paying for itself. Siragusa has a wide range of accountants and financial specialists who can give you the right advice when you need it.
2. Time is Money
We all know your time is better spent working on your business. A good accountant, like those from Siragusa, can help take the stress out of keeping financial records as well as calculating how much tax you have to pay. This leaves you free to do what you love.
A good accountant can help you focus your business efforts on the important things, like making more money. You accountant will take care of the other important things, including paying tax and meeting deadlines.
There is also a long list of important deadlines a business needs to meet in order to stay compliant. GST, corporation tax, end of year accounts, self-assessment and more, they all have important deadlines. And if you don’t meet these important deadlines, you risk high penalties and even auditing. A good accountant will ensure you are submitting all the paperwork you need, when you need to submit it, to ensure you avoid these penalties.
3. Business Advice
As your business grows, you need a good accountant who understands your business and industry and can offer commercial advice that can help you continue to grow. While accountants are limited in the financial advice they can give, Siragusa has business and finance advisors who can help you make smart business and financial decisions. Whether this is hiring a new salesperson or buying a new office space or warehouse, we can work with you as a sounding board for your decision making.
Our team can also help you prepare your projections and financial plans that you might need to put together for funding and growth plans. Siragusa accountants and specialists can also run you through the various options available and point you in the right direction should you decide to change the structure of your business.
4. A Good Accountant Offers a Wide Range of Services
Good accounting agencies, like Siragusa, offer a range of services aside from accounting. By offering specialist who can give business advice and financial advice, you can feel comfortable about the fact all your financial needs are met. Not only can they handle tax-related issues, they can also help advise you on investments, expansion, and more. This means you can focus on working on your business and ensuring your business grows, thanks to powerful advisors.
5. Funding and Investment
As you grow your business, you will likely require investments. This may come in the form of a bank loan or investors. So you need a solid plan, with detailed forecasts and management accounts, that are all up to date.
A good accountant will be able to offer guidance and ensure you’ve thought of everything you need when applying. They can also provide reassurance to your investors that your figures and accurate and realistic.
6. Make Business Life Easier
Spreadsheets, tax returns, and invoices, they can all keep you up at night. But they shouldn’t be a reason to lose sleep. So if the thought of sitting and plowing through paperwork or compiling spreadsheets gives you a headache, then hiring a good accountant is a good idea.
Further, a good accountant can help you choose the right software to not only make your life easier but so you can see results in real-time. Cloud accounting, security software, and more, your accountant can help recommend the right solutions for you. Further, cloud accounting means you can access your financial documents wherever and whenever you need it. It also means everyone involved with your accounts can see the same data, to help prevent discrepancies. Siragusa can help you pick the right software for your needs, so everyone stays on the same page.