How New Small Businesses Can Benefit From the Services of Accountants and Bookkeepers

Image via Pexels

Image via Pexels

(Image via Pexels)

When you’re in the process of launching, running, or growing a small business, you can use all the help you can get — especially when it comes to handling your accounting and bookkeeping duties. An accounting professional can help with everything from paying your employees and contractors to preparing and filing your tax returns — saving you time, stress, and money as a small business owner. To learn more about the benefits of utilizing the services of an accountant and/or bookkeeping professional as you launch, run, or grow a small business, check out these resources.

What Accounting Professionals Can Do for Your Business

An experienced accounting professional will help you to accurately prepare financial records and tax returns, manage your assets and liabilities, and prevent accounting errors from occurring.

  • Accounting professionals can help to keep your business financially healthy, but it’s important to understand the differences between accountants, bookkeepers, and certified public accountants (CPA).

  • When forming a small business, an accountant can help you to draft a business plan, choose the best legal entity, and secure funding.

  • Accounting professionals can also grow your small business over time.

  • Ready to hire an accountant? Keep 10 tips in mind when choosing an accounting professional for your small business.

The Benefits of Hiring a Bookkeeper

Bookkeepers help small business owners with daily financial tasks, helping them to process payroll, maintain financial records, and reconcile their accounts.

  • Even if you choose to hire an accountant or CPA, there are many reasons to enlist the help of a bookkeeper as well.

  • Similar to working with an accountant, bookkeepers can help you to achieve small business growth.

  • A bookkeeper can offer services such as invoicing, accounts payable and receivable, bill paying, and financial reporting.

 

Accounting Tools for Small Businesses

In addition to working with an accountant and/or bookkeeper, the following tools and resources can help you to stay on top of your small business finances.

  • Excel templates can be used to track cash flow, create invoices, and assess the financial health of your small business.

  • Online tools are also available. Some of the best financial tools for small businesses include PayPal, Expensify, and QuickBooks, which can help with payroll services, invoicing, and income and expense tracking.

Many new or growing small businesses can benefit from the financial services of bookkeepers, accountants, and CPAs. After all, running a small business is hard enough on its own — but accountants and bookkeepers can help to take some of the weight off your shoulders.

Davis Jameson