After many years of doing my own accounts, I will soon be using an accountant to do mine. As some of you may know, my partner is currently studying to become one and eventually he will take on my accounts. However I have realised I spend far too much time dealing with the admin side of things – I am always spending time IN my business rather than ON my business. As a virtual assistant, I pride myself on being the resource other business owners use when they want to spend more time on their business rather than it. So maybe I should be doing the same thing?
I wanted to share with you three reasons why I believe it is important to use an accountant. Do you have anything you would like to add?
They Can Work Seamlessly With Modern Accounting Software
You hire an accountant because they know what they are doing better than you do, right? However you can also save you both time and make their job a whole lot easier by utilising accounting software. One such accounting package is Xero and it means clients do a lot of the groundwork and then the accountants step in for the stuff that requires a professional eye. Software such as this still enables you to spend less time on admin but means life is a little less stressful all round. Choose a decent xero accountant and you will be chuffed with the results!
Softwares such as these are generally quite easy to use as a client and accountants will know them like the back of their hands. With the ability to save everyone time and money, it is definitely worth considering using something like this.
Photo by Kelly Sikkema on Unsplash
They Could Save You Money
Yes, you will have to pay your accountant’s fees. But what if they could save you much more money than what you are paying them? Worth it, right? Any accountant worth their salt would be able to identify places you can make savings which will help you to cut down your tax bills.
They will be able to advise you on ways to be tax efficient ethically and legally. Who wouldn’t want that extra money back in their pocket to use towards something fun? I know I would!
They Will Enable You To Grow
With less time spent on the inner workings of your business, you can spend more time nurturing it and growing it to all it can be. You might have been struggling with growing your business as you just didn’t have the time or energy to do so after all the admin but with this now taken off your hands, you will thrive!
These are just three reasons why you should use an accountant – there are, of course, many more! If you are self employed or a small business owner, do you do your own accounts or do you use professionals? If doing them yourself, do you think you are stifling your own growth? I’d love to know what you think!