Accounting for Small Businesses

For a proper accounting of business, large international companies can afford to have their own internal team of accountants. This team evaluates profit potential, ensures prompt payment of taxes and manages company’s growth. Small businesses also need good accounting and while they may not be able to afford a team, they will do very well with a good accountant.

Here are ten reasons from us at Premier Accounting in kirkintilloch & North Glasgow on why you need an accountant for your small business to be a success:

  1. A good accountant can help your business start properly in its initial stages. He manages your tax payment and he is also going to give good advice on how to solidify the structure of your business so it goes with the goals you have set.
  2. An accountant is knowledgeable on what business structure a business needs and will help you choose the right for your business. Depending on your situation and goals, he could advise you go for a limited company, partnership, sole proprietor or a franchise.
  3. Incorrect estimation of the expenditure or incoming cost of your business could prove to kill the business. An accountant will help with a proper estimate of your business cash flow.
  4. Most accountants have experience working in different industries. With such knowledge and experience, they are more positioned to give advice if you are looking to push your business into different industries.
  5. By law, there are some financial tasks that can only be handled by an accountant. Having an accountant to handle these tasks makes your business a law abiding one and you will be free of any fine or legal action attached to breaking this law.
  6. Accountants are well respected and connected in business communities and can give your link your business to important contacts. A good accountant knows how to prepare a business finance for investors.
  7. Accountants are in the know when it comes to new tax regulations, having one for your small business ensures you do not have to pay more than you need to for taxes.
  8. During the early stages of a business, issues are bound to occur and as a first timer, you might not know how to handle these problems. An accountant is skilled in providing a solution to these issues. He will also help you learn more about your business.
  9. Every small business owner plans to expand one day, as your business grows and the number of staffs increases, salary payment becomes a cumbersome task for you. An accountant can help with that and he ensures that every staff is paid on time and with the right amount.
  10. Most accounting processes are done digitally these days but choosing the right accountancy software to use for your business can be difficult. An accountant knows the right software to use for your business and will tutor you on how to use the software to access and manage your account.

How Premier Accountants Can Help

  • We help client build smart business which results in higher efficiency in business operation.
  • We keep clients up to date with latest developments and compliance requirements and hence saving from penalties etc.
  • We offer fixed price services, which means no surprise bills. Our quote stays same through out the year and you can enjoy the services by paying a fixed monthly bill
  • At the time of signing up we carry a out a health check
  • You will enjoy unlimited ad hoc advice with the freedom to get in touch anytime and have your queries answered within four hours.
  • We provide a 5 star service, working with a limited number of clients, thus providing a very tailored service to meet your needs.
  • We keep in touch with you throughout the year to ensure you’re keeping records in the correct order etc .
  • We conduct a pre-year end tax planning meeting with the client to ensure that right decisions can be taken before they year end.
  • We use the finest and latest cloud technology in the industry to increase efficiency &reduce cost. This eventually transfer the benefit over to you as you will have complete use of our cloud software with a paperless office, allowing us to access client information even if we are not in the office.

For a free consultation on the issue, please contact us on 0141 775 0070.

Leave a Reply

Your email address will not be published.