Whether you are a small business or start-up business owner one of the main worries you will no doubt face is taking care of those finances and managing the costs as best as possible. On top of running your business, managing employees, ensuring optimum results and planning for growth; as a business owner you must keep your finances in the best state possible in order to ensure that your organisation strives.
Dealing with a growing business is a lot for anyone to contend with which is why when it comes to finances, dealing with the specialist advice and support of an accountant can help. The right accountant can not only ensure that your finances stay in prime condition but help you save money and allow you the freedom to concentrate on the things that matter.
For many small business and start-up business owners however, there is often a major drawback. In an attempt to manage costs, the seemingly excessive fees of an accountant can be considered unnecessary. However there are many accountants out there who not only work on a fixed fee basis but offer a range of vital services that can give your business the fighting chance it deserves.
Below I have listed a few of the services the right accountant can offer, in an effort to keep your business in the best condition…
Bookkeeping- Bookkeeping is the task of recording all financial records and is a legal obligation that all businesses must comply with. An accountant can help maintain accurate and detailed records of all incoming and outgoing expenditure, records of accounts, records of cash expenses and details of business expenses.
Year End Accounts- Year End is a daunting prospect that all businesses must deal with however with the right accountant you can finalize your Year End accurately, review your company performance and financial forecasts and ensure that all accounts, business and personal tax returns are filed on time.
VAT Returns- One of the most complex issues any business owner will have to face is the VAT return however an experienced small business accountant can normally deal with the majority of the process, freeing you from the hassle. Accountants will often work with you to ensure you are registered, your return is accurately complete and submitted on time and any possible future reductions are planned for.
Payroll- Whether a small or start-up business, you will naturally have employees that will need to be paid. An accountant with payroll experience can keep on top of employee salaries, ensure all tax and national insurance deductions are made, ensure that PAYE submissions are made to HMRC on time and students loans, sick pay and maternity cover is accounted for.
The above are just a few of the services that the right accountant can offer. With the right fee and the right experience, allowing an accountant to deal with the above issues amongst others can provide you with the ease and security of knowing your finances are in the best possible hands and even save you time and money.
Whatever your views on cost saving; putting your business in the hands of a professional accountants could be one of the best investments you make.