Does my small business need an accountant?
Posted on 12 January 2010
Yes! This is a question many small business entrepreneurs ask. You may have asked this yourself, especially when you were looking at a large bill from your accountant.
You need an accountant! There is no other correct answer, unless you are not an entrepreneur and don’t run a small business. Read below to remind yourself why. If you’re just starting out, you need to know the facts about why you need an accountant.
A small business accountant will:
- Help you decide what type of corporate entity and ownership structure to have when you first get started. You also need your lawyer to get involved with this question. (see our previous post on Team work)
- Set up your accounting system so you can track your progress and be prepared for year-end financial reporting.
- Ensure that you pay the correct types of taxes in the correct amounts and at the correct time.
- Guide you through an audit.
- Help you understand your financial statements.
Frankly, the list can go on for quite a while. The items I have mentioned are just a few of the reasons your small business needs an accountant. Don’t wait for problems to come up before you engage one for your small business. If you don’t have an accountant, make a change immediately!
Most successful small business people value their relationship with their accountant and regard them as one of their most trusted advisors. It’s time for you to develop a stronger relationship with your accountant.
Take time to learn how your small business can increase profit through a better relationship between you and your accountant. Stay informed about new posts by clicking on our RSS feed “Stay connected” or sign up for our free newsletter.
On your team,
Mark
3 responses to Does my small business need an accountant?
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Hey there! I’ve been reading your site for a while now and finally got the courage to go ahead and give you a shout out from Lubbock Tx! Just wanted to say keep up the good job!
Thanks for your feedback it means a lot to us. Is there any topic that interests you that we haven’t covered or gone deep enough on?
ON your team,
Mark
Thank you all for posting this article regarding accountant vs bookkeeper for a small business. This is extremely helpful to me in my search as I wasn’t sure which would benefit me more as a service business that is mainly run online.