If you put together a list of the top 10 most hated activities business owners must perform, bookkeeping would be right at the top.
As a result, there inevitably comes a time when you’re going to ask yourself the all-important question:
Do I need an accountant?
Your answer will vary different depending on your unique situation, but there are a few things to think about to help you come to a decision:
Will an accountant help?
An experienced accountant will not only make sure you have all your financial ducks in a row, they can also help you make sound, strategic decisions based on the wealth of data hidden in your finances, so you grow safely and quickly.
Can I just use accounting software?
Accounting software is a great investment, helping to increase accuracy and provide you with basic reporting.
But even with the best accounting software, managing your finances is going to eat up more and more time as your business grows.
Make sure you aren’t diverting too much of your time away from core activities.
Can I afford an accountant?
If you hire someone really good, the cost of accounting will be largely, even entirely, offset by the gains you’ll make in business growth, and the time you’ll save not doing everything yourself.