Why Your Business Needs An Accountant

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Bookkeepers are the most spit-on and under-respected resource in our entire industry. And it’s time to put an end to this finally. Having a top accountant by your side is an absolute must if you want to set your business up for success and learn how to Avoid ERC Credit Fraud.

The Obvious Benefits of Hiring an Accountant

Any accountant worth their salt will do the following for your business:

You avoid overpaying someone else. Compared to having an accountant do it, accountants save $30-70/per hour.

Integrate your business with new technologies. They will help your business transition from its old desktop financial software. After all, it’s 2020 – your accounting belongs in the modern digital age.

Completely organize your documents. Namely, filing and archiving years and years of paperwork to save wasted time (and boredom, probably).

Once they are in the cloud with you, start your “bank reconciliation process.” This means going through every bank account and credit card statement, ensuring that every bill matches every expense and every last income from matches every payment recorded in your bank accounts.

Prepare your reports. Including your sales tax report – whether on a monthly, quarterly, or annual basis – and your monthly payroll report.

With that in mind, hiring the right accountant cannot be stressed enough. (In other words, stop looking for freelancers on Kijiji and back off slowly)

Accountants possess a level of control that we call “God mode.” They enter the numbers; they can decide on which accounts things are coded, they can make unrestricted decisions, etc. It’s a daunting responsibility, but it also means that one mistake can have a domino effect on your accounts and cost you dearly.

Dedicated bookkeeping services also save you from having to do it alone, as bookkeeping is always lost and worthless except for output. Sure, you might save some money, but if you have so much free time that you don’t need an accountant, you’re not spending time on your business. And what you are the best.

An accountant isn’t going to enter invoices into software on your behalf, code a bank account, or produce sales tax and payroll reports, so it only makes sense that he stays away from those things with a ten-foot post.

Instead, they will produce your year-end filing and financial statements, which will take a few hours to do once the accountant has finished everything else up to that point.

Optimize the ship with cloud accounting services

You need your finances to run your business; that can’t happen until your books are finished. If you’re running your business without an accountant, good luck. Truly.

If you have an accountant such as full-service CPA firm based in Chicago for example, but he always comes to your office and picks up papers, or you always deliver documents to your accounting firm that has an accountant, it’s time you looked for a real-time solution with the cloud – technology and accounting tools.

 

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