Why Should I Hire an Accountant for My Business?

When running a start-up, you wouldn’t want to hire outside help due to understandable financial constraints. While you may be required to shoulder most responsibilities that come with starting a new company, it is best to delegate specific tasks, such as accounting, to professionals. A professional business accountant will ensure that your books are up-to-date with accurate information and will offer your growing business needed financial support. While hiring a professional accountant can seem like an extra expense, it will be the best investment you  make for your business. Below are five benefits of hiring a business accountant.

1. It will save you time

As a new business owner, your time is the best asset you have, especially with so much to do. Hiring an accountant will allow you to free up time to handle other important business tasks. Managing your own accounting and bookkeeping means taking on time-consuming administrative tasks, which will hinder you from getting other critical business tasks done. From record-keeping to learning how to use new business accounting software, managing your own books consumes valuable time. Hire an accountant to take this bulky work off your hands.

2. It eliminates errors

Accounting is a highly specialized field, and professional accountants train for many years to be able to do it successfully. Business accounting requires a good understanding of your country’s tax law and accounting principles. A small mistake when filing taxes or the misapplication of accounting principles could cost you thousands of dollars to fix. Hire a professional accountant to minimize errors and ensure that the job is correctly done.

3. Eliminates stress

Doing your own accounting and bookkeeping can be a source of added stress you don’t need when running a start-up. At first, inputting financial details into an accounting system, monitoring tax return deadlines and record-keeping may not seem like a big deal. However, as more responsibilities of running and trying to grow a start-up fall to you, handling your own accounting can become very stressful. When you hire an accountant, they will take the extra stress off your hands.

4. Easy access to financial advice

Accountants are experts in financial matters. Having one on your side will be the best source of financial advice when running a start-up. When looking for an accountant, opt for a business accountant who has worked with numerous start-ups in your designated industry, as they will offer you personalized financial counsel based on their own expertise. Making big financial decisions without professional advice can be risky. An experienced accountant can guide you on the right path and help you make informed decisions to get better results.

5. Increases your funding acceptance chances

When applying for a business loan, most lenders want proof that you know how to use money wisely and that your company’s finances are strong. Having a professional accountant by your side could help increase your chances of getting the loan. Additionally, the accountant will also offer you advice on the best financing option for your company according to your business model and current circumstances. They will also help you through the loan application process, which will increase your acceptance chances.

Hiring an accountant is one of the best investments you can make for your company. Business accounting is not an easy task; thus, it is better handled by a professional. For your business to succeed, you will need to make financially sound decisions to improve your company’s overall financial health.  The right accountant for you is out there – you just need to find them. At Artola CPA, we would love the opportunity to learn about your business accounting needs and share with you what makes us tick.  Contact us today to learn more!

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