Why Accountants Are the Best Investment for Business
If you’re an owner of a business and understand accounting and all that comes with it - good for you! However, you can only last for so long doing it all on your own. According to The Business Journals, “Many small businesses owners don’t realize that a staggering 80 percent of U.S. businesses fail within the first 18 months. Typically, one of the main causes is poor financial management”. There are three main reasons to why hiring an accountant is the best investment for your business.
Plan for the Future
We know exactly what you're thinking - "how can an accountant help plan my future?". Simple. By focusing on what you do best and not running around worrying about your bookkeeping, your business will continue to succeed in the long term. In this video, we use an example of someone wanting to be a baker. They should continue to focus on their business, giving attention fully to improving the menu and customer relations, while the accounting is being taken care of all at the same time.
Taxes Can Be Tricky
If someone needs to hear it, we will put it out there - taxes are not easy (for nonprofessionals that is)! Sometimes it is hard to figure out what to classify and if it is not done properly, there will be consequences such as paying more at the end of the year. According to Entrepreneurship In a Box, "All you need now is to have the most powerful accounting software to get your accounts done. With accounting firms, you will have software and accounting technologies that are more sophisticated and advanced."
Save Your Sanity
Having someone else take care of the bookkeeping will keep your mind at ease, so don't worry! We understand how much stress it is to run around and make sure your business is still intact. So take some pressure off yourself and hire somebody else to do it for you. Investing in a professional accountant and engaging him or her as an ongoing tactical business advisor will assist you in maintaining that focus and simultaneously keep you on the road toward your business goals (BizJournals). Ultimately at the end of the day, you're still human so take care of yourself first before others/your business.
Here's a quick video where we wrap up these three key reasons:
#accountants #best #investment #business #stress #pressure #success #financial #management #plan #future #focus #longterm #customer #relations #crm #taxes #tricky #consequences #properly #advisor #qbo #accounting #financialgps