It’s time to hire an accountant for your family business
Did you know that only 30% of family businesses have an accountant? You may find it surprising, but it’s not because for a small venture every penny counts.
When running a family business, you prefer to do most of the jobs yourself to save some money. Accounting is one of them because it allows you to put some cash aside in the short term. But if you evaluate the benefits you’d have if you’d work with a professional accountant in the long run, you’d notice that there are many reasons to hire one. Before reaching a local expert weigh the pros and cons of outsourcing this service.
Here is why it’s time to work with an accountant.
It saves you stress and time
Your company is audited periodically and because you lack accounting knowledge your paperwork may not be in a top form. Every time the IRS audits your business you feel like you’re in a nightmare because you’re sure they’ll identify issues. But if you work with a Regnskapstjenester you have peace of mind when you receive the notice announcing an audit because you know that they’re professionals who don’t make mistakes.
Instead of spending countless hours preparing for the audit you can focus your time and energy somewhere else. Let your accountant worry about the paperwork and handle the IRs because they have experience and know exactly what they’re doing.
Accountants can help you with finance related tasks
Having an expert to handle your taxes is useful because they support your business’ well-being. When you hire a Regnskapskontor Oslo you expect them to handle the cash flow and payroll and make financial predictions that support your business decisions.
When you started this business your intention wasn’t to spend hours dealing with financial details and other associated tasks. You wanted to focus your attention on offering your public the best services in the industry.
The accountant provides you with business advice and consulting
The accountant is specialised in Enkel regnskapsføring and they can evaluate your company’s financial health to understand what strategies you need to adopt to support your business’ growth. Most entrepreneurs agree that their accountants are their most trusted advisor when it comes to planning expansion or product manufacturing because they have the needed experience to identify business opportunities.
Accountants work with multiple companies at the same time and they have a sense of what it takes to run a business. Therefore, they have the needed knowledge to help you create a good strategy.
Accountants are trustworthy partners
Most business owners consider their accountants more trustworthy than their family and friends when it comes to running a business. The accountant knows the business very well and they can determine when it’s the right time to make a decision. They have an objective position and they can provide you with reliable recommendations. Running a family business is challenging because your family members may let their emotions influence their decisions. But the accountant has a stake in the success of the business and therefore they do their best to see you perform better.