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Does a Small Business Need a Full-Time Accountant?

submitted on 23 January 2020
Whether you are just starting out or you are trying to maintain your size and structure, smaller businesses offer a range of challenges. One problem you might encounter is who is going to handle your accounts. Do you need to engage an accountant if you’re only a small business? Let’s take a look at whether or not this might be beneficial for you.

Do You Already Have an Accountant in the Team?
While you might not have a qualified accountant, you might have someone on the team who is able to keep the books straight. In the early days of your business, this might be all you need. You might even be able to handle things yourself. If you or a member of staff is happy to take on the role of an accountant, you might find that you can operate fine.

Outsourcing
However, the issue with giving the books to a member of staff is that there may be other tasks that require their attention. In the early days, it might be necessary for someone in the business to take on multiple roles. To keep things turning, you as the owner or MD might have to perform multiple tasks you never would once the company is more established.

The issue with this juggling is that someone might become lumbered with the accounts when their talents lie elsewhere. Areas of the business might therefore become neglected.

Outsourcing your accounting requirements to a qualified accountant might be one of the best choices you ever make. Many accountancy firms are fully equipped to handle your books no matter what industry you are in.

To Hire or to Outsource?
Trying to determine the right path for you might be very simple or it might require some more thought. If your business has a high turnover then hiring a full-time accountant for your payroll might be the best option for you. However, even a newly qualified accountant can be an expensive member of staff and you simply might not be in a position to afford it.

Outsourcing your accounting allows you to find someone who will work with you to deliver the results you need. You will get to step into the role of the client for once. Outsourcing also allows you to be as proactive as you want. Some people prefer to hand over their accounts and let things progress by themselves, whereas others would rather know precisely what is happening. With the right accountant, anything is possible.

Your accounting needs are the first of many services you could choose to outsource for your business. No matter what, you should know that your accounts are in the best hands possible. Sometimes that means they will be kept within the company and other times you will need to find an expert out there. Decide which path would be best for your business today.

Article kindly provided by Hazelwoods

 







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