When is the right time to hire an accountant for your business

When is the right time to hire an accountant for your business

At first glance, hiring an accountant may seem a luxury you can’t afford but you should remember that by doing so you are likely to save money in the long run.

Looking after your business accounts is one of the most important and challenging parts of running your own company. Whether you are a sole trader, self-employed, small business, contractor or limited company; you are much more likely to survive and maximise profits if you engage with and follow the advice and expertise of an accountant.

Many small businesses make the costly mistake of thinking they can manage their finances on their own. But without valuable accounting advice and insight, you could be selling your business short.

If you are a start-up, small business or self-employed, its likely you will have many roles within your company. From head of sales to customer services and making the tea, with cash at a premium you will want to make the most of every penny and engaging the services of an accountant may seem like an unnecessary expense. But, staying on top of your accounts can be time-consuming, and unless you take the time to process your sales invoices, keep up to date with payments to suppliers and understand the different types of taxes, then you may find yourself making costly mistakes.

At TOGIPAccounts we know how hard it can be to let go of the business reins, but, when you enlist the services of a good accountant, they can not only provide you with the financial tools you need to succeed, but offer an objective, holistic approach of your business’ future. From registering with HRMC to National Insurance Contributions, setting up your online accounts and planning for potential growth, the right accountant will give you the foundation blocks to help your company grow.

Like most things in life, when it comes to financial advice you tend to get what you pay for, but that does not mean you shouldn’t compare costs, fees and packages for a variety of different accountants. After all, a good accountant is likely to become an integral part of your business, so choosing the right one is something that shouldn’t be taken lightly.

Most accountants will offer a host of different fee structures for you to choose from. From monthly retainers to variable or ad hoc charges, it is important that you pick a payment plan that works for you.

At TOGIPAccounts our financial subscriptions start from as little as £49.00 per month and our flexible add-ons allow you to design a bespoke package of services to suit the stage your business is at. Our existing clients large and small use a diverse range of our financial services and benefit from our desire to minimise paper or manual processes through the use of the XERO digital accounting solution.

With XERO, you’ll have the ability to track and see your accounts on any device, both day and night and share them with us in a safe and secure manner. You’ll see your business records in real time and keep afloat of your accounts. Using XERO we will automate your invoices and take payments via direct debit or payment systems such as PayPal, credit and debit cards’ We’ll keep track of your expenses and reconcile your costs at the touch of a button. Your dashboard will show you your sales position, outstanding invoices or monthly cashflow; whichever works best for you.

Whether you are looking for financial advice, business insights and innovative accounting software solutions, you should never underestimate the breadth of knowledge and expertise an accountant can bring to your business