Don’t Wait Until It’s Too Late: The Benefits of Hiring an Accountant for Your Small Business
If you are starting out in business for the first time, or have only just started to trade, whether it be as a self-employed person or as a Limited Company, it is vital to think about getting an Accountant on board as soon as possible.
"Accounting does not make corporate earnings or balance sheets more volatile. Accounting just increases the transparency of volatility in earnings." - Diane Garnick
Why You Shouldn’t Wait to Hire an Accountant?
Many business owners wait to hire an accountant after an issue arises, such as falling behind on paying their tax, realizing that accounts need to be filed, or becoming swamped with bookkeeping, payroll, and other financial paperwork and obligations that they just don’t have time for.
Below are a few early warning signs that your business may need to get an accountant on board:
- You’re staying late after work to complete the accounting tasks on a regular basis;
- Your business has expanded very quickly, and paperwork is mounting up;
- Turnover is increasing but profits are not;
- You need to raise money or make a big investment in capital items.
We can help so don’t delay, check out some of our success stories:
- A Limited company was set up, and at the same time registered for VAT. They started processing the VAT returns but unfortunately filed them incorrectly with HMRC as they were not aware of the new MTD filing requirements. They then contacted Crouchers, who advised them on what was needed, set the company up on an accountancy software package, and registered them for MTD. This made sure that all VAT returns were submitted correctly going forward, and payments made to HMRC on time.
- A Limited company was set up, and the business owners decided to complete the bookkeeping themselves. When they appointed Crouchers to prepare their year-end accounts, we found that a lot of the bookkeeping had been done incorrectly and many mistakes made. If we had been appointed from the beginning, we could have either provided them with a bookkeeping service or provided them with some software training to avoid additional costs to the business.
- A company set up a payroll scheme and started to process their payroll themselves. As they were unsure what they were doing, they had not filed their monthly submission correctly. They, therefore, approached Crouchers to help them resolve the issues and take over the payroll going forward, making sure that the payroll is correctly calculated, monthly submissions made on time, and that the correct amount of PAYE is paid over to HMRC.
If you are experiencing any of the above or other financial headaches, then the right accountant can be an excellent decision.
Why Hire Crouchers?
At Crouchers, we value all our clients, from large commercial entities all the way to sole traders. We support our clients with the expert knowledge of our team, enabling us to deliver a service that suits your business needs. We like to work closely with our clients, and our proactive approach helps us in understanding the numbers so that we can improve clients’ efficiency, reduce costs, increase profits, and perform tax planning where needed for tax and performance efficiencies.
Our cloud accounting team has specialist knowledge of a variety of cloud accounting software, including Xero, FreeAgent, Sage, and Quickbooks, and can provide a range of services, including system implementation and training. We can also provide advanced outsourcing, including payroll, bookkeeping, management accounts, and finance director roles.
We pride ourselves on being friendly, approachable and helping our clients to understand their finances and responsibilities, so they can focus on running the business. Our team is always available to help clients with any issues or queries they may have. We can cater our services to all budgets and requirements and offer full accounting and business growth services if required.