Many small business owners make a huge mistake when they are first opening their new company and try to cut costs by not hiring an accountant. They often believe that since they are just starting out and don’t have to worry about a lot of money that an accountant will not benefit them in any way, but this is not true. No matter how small your business is or how little you have in the bank, you can benefit from the services that an accountant offers.
How They Can Help
Accountants can do much more to help you than simply assist when tax time rolls around. Some of the ways they can assist you include:
- Helping during start-up: creating a business plan, choosing bank accounts, and keeping expenses separate
- Explaining financial statements
- Closing out books at the end of the year
- Controlling payroll and payments
- Assisting in the case of an audit
- Keeping an eye on cash flow patterns
You Can Choose the Amount of Help
One great thing about hiring accountants in Essex is that, as the business owner, you have full control over how much help you receive from your accountant. You can hire them to take over much of the finances of your company or only rely on them when you need advice. No matter their role, they are sure to help your business run smoothly.
It’s a good idea to sit down with the accountant you are considering hiding. This way you can discuss their potential role in your company, how they can benefit you, and what action they can take.