10 Reasons You Need A Small Business Accountant As a small business you wear many hats that include cook, janitor, bookkeeper, bottle washer, manufacturer and any other title you need to give yourself in order to get the job done. Yet there are certain areas where you should never scrimp on either hiring talent in-house or outsourcing to a qualified expert. Small business accountant can provide one of these expert services that should never be overlooked in a small business. The reason why accountants are so important is because they protect the business from insolvency, tax evasion and its consequences and can provide advice and consultation on running the business more efficiently. Here are the 10 reasons you should hire one today. Number one: better finances An accountant can also provide you with advice on how your personal finances should be custom tailored or integrated with your business depending on the legal status of your business. If your house is in order most likely your business will be too. Number two: no lies An accountant is paid to tell you the truth no matter how bad it could be. If you of a spending problem and accountant will tell you to cut up your credit cards and to stop spending before you send your business into debt and possibly failure. Number three: savings An accountant is especially skilled in reading the financial masterpiece that is your business. They will be able to tell you where you are spending outside of industry averages and where you can possibly save tons of money. Number four: tax consultant You can be assured that the government will take their pound of flesh but an accountant can ensure that it is only 1 pound instead of 10. Number five: asset management Should you buy new equipment or use the existing ones? Should you finance, lease or purchase that equipment out-right? An expert will be able to tell you the best option to save your company money and leverage credit to your advantage. Number six: financial systems Have you seen the complexity of financial software lately? Whether you use industry standards or your own bookkeeping methods and accountant will be able to get your books in order and suggest the best method of keeping them that way. Number seven: planning for the future Being a business owner with many jobs to do, sometimes takes away from the ability to plan the future of your business. The advice of an accountant quarterly can make sure that you still have your eye on the future plan of the business. Number eight: networking Did you ever think that you could use your professional consultants for networking and referrals to actually increase your business? These professionals generally have large networks of business contacts that could aid your businesses growth plan. Number nine: investment As a small business owner does not often happen that you have more money than you know what to do with and need investment advice, it with the aid of an accountant you can reach this critical step and use their investment advice as well.
Number 10: a wise investment Use their expertise to avoid mistakes of other small business owners and increase the likelihood of your success compared to your competition. A small business accountant can ensure your business is on a viable path in all aspects of business management. Seek one out today that can meet your needs and provide for a healthy future of your business. If you are based in Sydney, Australia, you will probably find the following website helpful: Small Business Accountants Sydney