It is perfectly possible for you to do your own accounting, yes – but only if you know exactly what you’re doing. When it comes to DIY accounting, you’ll need to know all the rules, all the deadlines and all the standards. For more information about how to handle your own accounts, please visit our accounting services pages.
If you are struggling to keep up with your business’s financial accounts, or wish to focus more on other aspects of your business, then you may want to consult an accountant for help. An accountant will undertake all accounting duties and remove the responsibility of tax deadlines from your shoulders, freeing up your time and energy so that you can concentrate on other parts of your business.
Starting a new business can be a monumental task. A start-up involves, along with a million other tasks, market researching, choosing a company name, designing logos and business cards, branding, networking and product sourcing. It’s easy to get carried away with aesthetics and forget about the numbers. An accountant can get your business running, show you the ropes, free up your time and avoid any mistakes that that could be detrimental to a young business.
Proprietors thinking of expanding their businesses, whether to move abroad, upgrade to bigger offices, provide more services or take on more employees, need to handle the transition process delicately. Making the wrong decisions at this transitory stage could ruin the whole business. An accountant will help proprietors control costs by drawing up realistic budgets and using evidence to determine whether or not the planned changes are likely to benefit the business.
Accounting isn’t just for businesses. As an employee, you may face certain points in your career where expert financial advice could come in useful. For instance, an accountant could help with tax, pensions or salary and job changes. In day to day life, situations arise where we may need to spend or handle a substantial sum of money- like marriage, planning to have children, getting a mortgage, handling savings, inheritance and so on.
People who earn substantial amounts of money may benefit from consulting an accountant. An accountant can help with distribution, taxes, investments, shares etc. Remember you only have to book a short appointment every once in a while – hiring an accountant is not the same as employing an accountant. Two hours of advice at crucial times in your life could make a positive difference to your life decisions.