Are there good reasons to hire one accounting office at different stages of your company's growth. From the business plan to the formation of the company, from the loan application to the tax inspection, an accountant can make your life easier. Like all business owners who want to save, you may find investing with an accountant irrelevant. But how long does it take you to perform certain tasks that it could do for you? Is that a good use of your time?
When counting on a accounting office to take care of time-consuming tasks, such as taxes for example, you are very likely to save money. Because not only will you have extra time to generate revenue, but you will have the peace of mind that an expert is taking care of everything and especially, of important details that you may miss by absorbing too many tasks.
Here are seven good reasons why your company should consider hiring a accounting office:
1) Business plan advice: A professional accountant can help you make additional financial projections to your business plan, for example. This will help you create a business plan that is more realistic and more likely to succeed. He can also advise you on the legal structure of your company, explain the legal business structures available in the legislation, and help you choose the one that best fits your business.
2) Cost reduction: Accounting professionals are closely familiar with a particular segment, product, or service. They constantly analyze all business data and information and are able to cut waste.
3) Creation of provisions: In addition to the ability to cut unnecessary costs, a team of a accounting office is trained to analyze management reports and advise the board of directors on the future of the company. It also evaluates business metrics, wage and revenue proportions, producing statement charts about the company's current financial situation and helping to monitor the business.
4) Beware of tax issues: As your company grows, taxes and payroll become more complex, increasing their variables and applicable regulations at the federal, state, and municipal levels. If the company has an international presence, the accountant also monitors changes in legislation and helps the company to always be in compliance. Often, by maximizing tax deductions, you pay for hiring a accounting office.
5) Negotiate with suppliers: An experienced accountant can help you research suppliers and acquire the best deals for your needs. Nowadays, with the new fraud prevention laws, a good choice of suppliers is essential, not only based on financial values, but on reliability. After hiring the supplier, you should carefully consider whether they are adhering to the terms of the contract, so as not to be held responsible in cases of non-compliance.
6) Updating regulatory processes: In addition to taxes, there are other aspects that government agencies may charge your company. Many companies face a growing regulatory burden and rely on a accounting office, whose team is always up to date on industry regulations, will help you ensure compliance and plan possible deployments to comply with new regulations.
7) Startup stopped growing: It is common that, at some point, companies startups slow down their growth in the early years. In this context, the hiring of a accounting office can help the company in various aspects, identifying unprofitable businesses, realigning processes and reevaluating the prices of the products and/or services offered.
As a business owner, it's normal for you to prefer to have full control over operations, but accepting that your business has the potential to expand if you have professional help is a smart move. You focus on generating revenue, and leave the minutiae of taxes, payroll, internal controls, and compliance to a accounting office. Delegating your company's financial matters is a good start to business expansion, but it's important that you choose experienced professionals to feel comfortable trusting your company's information.
TATICCA — ALLINIAL GLOBAL provides integrated auditing, accounting, tax, corporate finance, financial advisory, risk advisory, technology, business consulting and training services. For more information, visit www.taticca.com.br or email taticca@taticca.com.br. Our company has professionals with extensive experience in the market and has certified methodologies for carrying out activities.
