Accountant or Bookkeeping- What is best for your business?
Every successful business owner quickly realises that they cannot do everything. Their time is precious and is best focused on building the business. One of the first things to be outsourced is bookkeeping. But should you choose an accountant over a bookkeeper?
In fear of upsetting many of the fabulous bookkeepers we and our clients work with, I would like to first say that having a bookkeeper is a smart move. It will free up your time helping you keep on top of your business running.
The really great bookkeepers will work closely with their clients' accountants, preparing quarterly VAT returns and making the year-end accounts preparation just that little easier. And that for most small businesses will be enough.
But as a business grows and becomes more complex, business owners will find they need more than what is largely an administrative role. The need for up-to-date financial information and detailed reports to manage cash flow becomes more important, and that is where an accountant shines.
The move towards online accounting by most businesses has made the bookkeeping roll a little easier and quicker. Sales, expenses, payroll and even timesheets can all be easily managed online – and shared in real-time with your accountant.
Like many accountancy firms, Hillier Hopkins offers full bookkeeping support to its clients. They prefer to keep the financial management of their business in one place. And for good reason.
An accountant is required for the end-of-year audit and that task is made a little easier and quicker when your accountant is managing the day-to-day finances. They are on hand to manage VAT and tax returns.
But that is not the primary reason. Your accountant provides more than this historical and compliance-driven role. We are forward-looking, providing clients with the financial information they need to keep on top of the business.
By asking your accountant to manage your bookkeeping, you can rest safe in the knowledge that a highly qualified specialist is taking care of what matters most to you. We bring that understanding, proactivity and the ability to see beyond the numbers and look at the big picture gives you a valuable and powerful resource.
Get in touch if you would like support with your accounts or bookkeeping.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.