As a business owner, so many odd jobs constantly demand your attention, from product development and customer service to marketing and administrative tasks – it’s no wonder you often feel stretched thin.
While it might be tempting to delegate administrative tasks to a virtual assistant, this approach might not be the most efficient strategy for your business. Instead, you should hire an accountant who can provide comprehensive support beyond basic administrative assistance. Here’s why.
Comprehensive financial management
A virtual assistant can be valuable for handling routine administrative tasks like scheduling, email management, and data entry. However, accountants can handle far more (and more complex) tasks.
At the core, accountants often handle the bookkeeping of businesses, which involves recording all financial transactions to ensure your records are accurate and up-to-date. This includes managing expenses, invoices, payroll, and bank reconciliations.
Tax preparation and filing are also key responsibilities of an accountant. They ensure you comply with all tax laws and file an accurate tax return to avoid penalties – all while claiming all available deductions and credits to save you some money to reinvest into the business.
However, accountants can do more than record data and file returns. After working with businesses for so long, they often offer financial analysis and advisory services. So, they can generate detailed financial reports, develop budgets, manage cashflows, and create strategic plans – all of which will help you understand your business’s status and performance to make informed business decisions.
So, if you’re going to hire someone to help you in your business, why would you hire a virtual assistant when you can hire someone who could help?
Advantages of hiring an accountant
Hiring an accountant is a brilliant idea, offering several advantages that significantly benefit your business. Here are just a few:
- Save time: It might not seem like it, but managing financial tasks like bookkeeping, tax filing, and financial reporting is time-consuming. By delegating these responsibilities to an accountant, you free up valuable time that you can use to focus on core business activities, such as strategy, marketing, and customer service. This increased focus on growth-related tasks can drive your business forward more effectively.
- Accurate work: If you do some of the tasks we’ve talked about all by yourself, it can be easy to become overwhelmed – and when you’re overworked, you’re more likely to rush and ultimately make a mistake. Delegating the job to an accountant removes this risk. Furthermore, accountants bring high precision to financial management given their experience and training in the subject. Some accountants will also use accounting software to significantly remove the chance of human error. All of this means accurate financial data – crucial for allowing you to make informed business decisions and maintaining regulatory compliance.
- Expert tax advice: Tax laws are complex. That’s nothing new. Accountants stay updated with the latest tax regulations and can provide expert advice on tax planning and strategy tailored to your needs. In the long run, that could actually save you more money than you pay for your accountant in the first place.
Why you should hire us
Choosing the right accounting firm can make all the difference for your business: they have different levels of expertise, ways of working, and services. After more than two decades in the industry, we’re glad to say we’ve developed the skills, accumulated the technology, and built all the services you need to get a leg-up on your competitors.
Our comprehensive services include accurate bookkeeping, meticulous tax preparation, strategic financial planning, and insightful financial analysis. We stay updated with the latest tax laws and financial regulations to ensure your business remains compliant and benefits from all available deductions.
If you’re interested or want to learn more, don’t hesitate to contact us today. Let’s find out what we can do for you.