It doesn’t matter whether you want to hire an accountant so they can help you with your loan application or even with your tax investigation, having someone who is qualified and experienced is incredibly important and you would be surprised at how much they could help you. There are various benefits to hiring an accountant for the different phases of your company’s growth as well, but that doesn’t mean that you need to hire an accountant full time or even in-house. In fact, you may only need one for a couple of hours every week so keep this in mind when making your decision.
So what can an accountant help you with? They can help you to save money and they are great when it comes to taxes. You may think that you can do all of your taxes yourself but if your time is worth, for example £100 an hour then you could end up spending £200 for the two hour it takes you to do your own books. An accountant may be able to do the job for you for a much lower rate and on top of this, you don’t need to worry about making mistakes that could be costly in the future.
That brings around the question, when do you know whether or not this is the right time for you to hire an accountant? All you need to do is look at the amount of time you are spending doing your own accounting. If this time could be better allocated to your business, then you should certainly think about hiring one to help you with your finances.
In this Reuben Singh interview, Reuben Singh talks about how he made mistakes in his business and he also talks about his personal experience with accountants and what they have to offer.