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THE ACCOUNTANT'S CORNER

March 20, 2020

Why You Should Hire an Accountant For Your Small Business

Written by, Alex Liong-A-San

There are quite a few good reasons why you should hire an accountant to help with your small business finances. Dealing with your own business’s finances can be a long, tedious, and strenuous task. It can keep your focus away from other important areas of your business which causes decreased revenue. On top of that, doing your own finances doesn’t guarantee that you’re doing it right. Odds are, you’re not as knowledgeable as an accountant and you’re not handling financial information as correctly as you should. As you run or start your small business, consider hiring the professional work of a CPA. Below are some reasons why you’ll benefit from their service.

Cost-effective

Hiring an extra hand to deal with your finances may seem like an expensive alternative. In reality, however, you’re more likely to save more money by hiring an accountant for your small business.

Think of it like this, there’s the phrase, “time is money”. You have many areas of your business that require your focus and time and you can significantly increase revenue by giving each area your equal attention. When you’re dealing with your finances, though, and if you’re inexperienced in accounting, then you’re wasting hours on end ensuring that you’ve assessed and entered every vital piece of information into paperwork. Time will fly by and that’s time you could’ve used to work on other areas of your business.

When you hire an accountant, you can expect your finances and paperwork to be handled in a timely fashion as you work on other tasks to increase profit.

Business Planning

Including an accountant to accompany you as you’re writing your small business plan is one of the most beneficial actions you could do for your small business. CPAs are able to utilize accounting software in order to conclude final projections and other reports. This will help you structure a realistic business plan that’s more likely to succeed. Also, if you hire a CPA early on, then you get the benefit of their financial advice and knowledge now as opposed to later. This will save you tremendous time and money.

Some Offer Bookkeeping Services

You might be wondering what the difference is between an accountant and a bookkeeper. Some of their duties overlap each other but the key difference between the two is that bookkeepers typically handle day-to-day activities. This usually includes writing checks, recording deposits, preparing invoices, account management, and even accessing payroll. Bookkeepers are even experts in accounting software as they often use it daily. Accountants perform many of these duties but their main one is to prepare financial statements from the data the bookkeeper enters into the accounting software or into the ledger. So if you hire an accountant whom is also an expert bookkeeper then you’ve just received an added benefit to your small business.

Hire Robert E. Clark, CPA, For Your Small Business

If you happen to own a small business in Key West and are in need of professional service from an expert accountant, then schedule an appointment with Robert E. Clark today. Robert E. Clark is one of the most qualified CPAs to work in the South Florida area and possesses an extraordinary list of skills and practices that he can utilize for your business. You may reach him at 305-363-5429 or you may visit our contact page.

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