As a small business owner, you were able to make your passion and dream become a reality. As your business grows you will have to graduate from doing everything and begin to employ others to cover certain administrative tasks. An accountant can help you realize your dream in five interconnected but distinct ways.
Year-Round Accounting Tracking is Not Your Problem
Having a competent accounting team support you year-round means you don’t have to track IRS deadlines. Your accountant tracks tax deadlines for your business and makes sure the IRS receives accurate and complete forms in time.
Outsourcing Accounting Services is Cost-Efficient
Your time is valuable. Your employees’ time is valuable. It is a waste of time and resource to try and have someone “learn on the job” when you can outsource to an expert and not have to pay for training. Your team member can focus instead using their skills to help your business grow.
Ultimately, you will save by avoiding training and the additional salary of an in-house accountant.
Accounting Services Gives More Control Over Your Small Business
Maxine Taylor of The Balance Sheet in West Palm Beach, Florida says that businesses “armed with accurate records of past and current books are better able to make projections and financial decisions for their businesses.” Which then leads to the ability to make better decisions.
Well-Done Accounting Leads to Intelligent Business Decisions
“Intelligent decisions” means deciding on a direction based on a good premise. A well-maintained and complete database leads to accurate financial reports and charts. These help you assess the health of your company and choose actions to improve and strengthen it, which ultimately leads to higher profit.
Accurate Accounting Leads to Higher Profit
As ‘The Five Stages of Small Business Growth’ by Niel Churchill and Virginia L. Lewis put it, profit is at the heart of bookkeeping. Your accountant can make sure you have the right bookkeeping foundation, that costly tax and IRS mistakes don’t occur, and that you receive the financial analysis of your business that you need for decision-making. Ultimately, all of these efforts are geared towards making your business more profitable. A good accountant never loses sight of that goal.
Making your dream business flourish requires having a great support team, especially in regards to accounting. Contact Maxine Taylor, the power behind The Balance Sheet, today for a consultation and find out how she can put her experience and expertise to work helping you build and strengthen your dream.