If you've been back and forth between the idea of continuing to DIY your business' finances or taking the leap into hiring an accountant, this blog is for you. We've compiled a list of the top 5 signals that indicate you're ready to invest in an accountant for your business.
1. You're Starting a Business
If you're setting up a new venture and don't have a clue where to start, an accountant is there to help. They'll take the stress out of your finances, from registering with HMRC to employing your first members of staff - and everything in-between.
2. You're in a Period of Growth
As your business expands, you will have more clients and successes to celebrate. But this also comes hand in hand with a longer list of accounts to deal with. Regain control of your time and save the hassle by outsourcing to an accountant.
3. Revenue is Increasing But Profit Isn't
Sometimes the numbers might not correlate. Your revenue is on the rise, but why isn't profit skyrocketing with it? When you work with a good accountant, you're able to find ways to save you money and spend wisely meaning profit margins move in your favour.
4. You're Feeling In Over Your Head
Accounts starting to make you feel queasy? If you're up until the early hours of the morning working on your bookkeeping, it's not going to be sustainable. Wave goodbye to messy accounts and invest in an accounting team that is going to keep you on the right track when it comes to financial paperwork. This means more time and energy to focus on doing what you're best at.
5. There Are Forms to be Filled
Perhaps you're presenting your business, looking for investment or you've received a visit from HMRC? When there are forms to be filled, an accountant is going to be a solid investment. This way you sleep easy at night knowing your accounts are accurate and well managed.
If you'd like to chat about how an accountant could best support you and your own circumstances, we recommending booking in a free no-obligation consultation call. Give Catherine a call on 01423 431889 or email catherine@bctaccountants.co.uk.
Please note: all stats are accurate for the 2021/22 tax year.