Hiring an accountant comes with a number of benefits, especially if you own a small business. For many small business owners, the thought of hiring an accountant seems daunting.
Not only does hiring an accountant cost money, but you might think that you don’t need any additional help with your finances because your business isn’t so big yet – but this isn’t the case.
Many individuals wait until their company starts to show significant growth before considering an accountant. However, the services that a reliable, hard-working accountant can provide are something that all small businesses can benefit from greatly.
If you’re a small business whose been weighing up the pros and cons of having an accountant work alongside you to take care of the financial, more tedious side of your company, continue reading to find out the main benefits of working with an accountant.
What is an Accountant?
What is an accountant? An accountant is a highly-trained professional who is responsible for maintaining and organising the financial records of a business. Accountants also analyse financial growth and work alongside companies whilst performing accounting functions.
You can expect guidance, support and advice from accountants, who ultimately work towards bettering your company by offering such services.
Although many accountants work independently, offering individual practices, most work within accounting firms. Both small and large business owners benefit from having an accountant, especially if they have other important aspects of their company to look after day to day.
Taking care of your finances is a massive responsibility, and regardless of the size of your business, it usually proves to be difficult to handle everything on your own.
Accountants ensure your finances are up to date and keep note of important due dates for payments – this is something many business owners could potentially forget to do.
If you fail to provide the right information during tax returns to HMRC, you could face a penalty. By having an accountant, you can rest assured that your financial affairs are being taken care of accordingly, allowing you more time to enjoy the simpler side of your small business.
Why Small Businesses Should Hire an Accountant
There are many reasons why small business owners should consider hiring an accountant. A reliable accountant will be able to assist you in all financial matters, providing expert advice when you need it.
Accountants help you stay on top of current tax requirements and compliance, which can be easy to forget if you’re running a business single-handedly.
As a business owner, it’s your decision whether hiring an accountant is beneficial. In terms of cost, although hiring an accountant is a small investment, it’s better than having to pay fines given by HMRC for missed tax returns or inaccurate information.
You will save both time and money by hiring a professional accountant. Accountants use the latest technology and accountancy software to handle your accounts, which is something you wouldn’t be able to do so accurately. Accountants can also provide the following services which are beneficial for all businesses:
- Dealing with HMRC
- Knowledge of how to operate the latest technology
- Helping with business structure
- Offers specialist business advice
- Deal with complex issues such as VAT
- Deal with payroll
- Help with the financials
- Offer strategic advice
- Provide bookkeeping services
- Monitor how your business is operating
How LJS Accounting Services Can Help
Choosing the right accountant can be difficult, especially if you’ve just ventured into the world of business. Here at LJS Accounting Services, we make it our aim to provide services like no other to our loyal clients. We understand the importance of accountancy, which is why we’re here to help businesses tackle their finances in the correct way.
Having been operating for numerous years, we’ve accumulated a wealth of knowledge and experience within the industry, helping clients from all walks of life. Our accounting services are delivered at the highest quality by our team of dedicated, ambitious and passionate individuals.
Our award-winning service and bespoke accounting services haven’t gone unnoticed – we receive an array of top reviews from both past and present clients, applauding us for our continuous hard work.
If you’re a small business in need of an accountant, look no further than ourselves here at LJS Accounting Services. To talk directly with a member of our team, contact us on 0151 601 0000.
Keli Evans, Director at LJS Accounting Services, excels in taxation and statutory accounts. With a focus on strong client relationships, she leads a diverse portfolio, overseeing vital financial aspects like VAT, payroll, pensions, and taxation with a holistic and committed approach.
