Owning your own business is often an exciting prospect, but can also be quite daunting.
One thing that may not be exciting however is your business’ finances, unless of course you love a good spreadsheet.
Keeping on top of finances can also be a stressful job when you’re already trying to juggle so many other daily tasks.
This is why outsourcing to external accountants can be a great way of making running a business just that little bit less stressful.
Each accountancy firm will have their own specific procedures but generally the process is pretty straight forward.
Once selecting your accountancy firm, they will then contact you with regards to what documents you will have to send off to them.
These will naturally be financial documents such as invoices and sales records etc.
In response you can receive your management accounts, an estimated tax bill and bespoke monthly advice amongst numerous other benefits.
There are numerous ways in which outsourcing your accountancy can help your business to grow.
Below we’ve put together a list and a quick description of exactly what external accountancy can do for you.
Most accountancy firms will even take care of that entire process for you, from cancelling your agreement with your current accountants, to registering with HMRC.
You’ll be asked to send over the required documents when needed and that’s about it.
There is no one size fits all answer for this I’m afraid, but most accountancy services are very cost effective and will be priced very much inline with the size of your business, and its requirements. Smaller firms and sole traders will pay considerably less than larger firms.
Each firm will charge different rates and include different services.
Typically, firms will charge on a monthly basis however, so this will be a rolling expense as opposed to one lump sum or being charged per project.
Like all things in life, it is very important to compare one accountancy firm against another to ensure that you are getting the best deal.
Hopefully that's cleared up some questions that you may have regarding how hiring an external accountant can help your business.
Now the last one you most likely have, is "how can I get an accountant"? Well, the process couldn't be simpler; all you have to do is click the "Start Free Quote" button to start comparing prices.
This is an absolutely free service and there's no obligation to commit, so click the button, follow the prompts and get comparing now.