There are good reasons to hire a 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 tax inspection, an accountant can make your life easier. Like all business owners looking to save money, you may find investing in an accountant irrelevant. But how long does it take you to perform certain tasks he could do for you? Is this 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 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 important details that you might miss out on by absorbing too many tasks.
Here are seven good reasons why your business should consider hiring a accounting Office:
1)
Business plan advice: A professional accountant can help you add financial projections to your business plan, for example. This will help you create a more realistic business plan that is more likely to succeed. He can also advise you on the legal structure of your company, explain to you about the legal commercial structures available in the legislation and help you choose the one that best fits your business.
2)
Expense reduction: Accounting professionals are intimately familiar with a particular industry, product, or service. They constantly analyze all data and business information and are able to cut waste.
3)
creation of provisions: In addition to the ability to cut unnecessary costs, a team of one accounting Office is trained to analyze management reports and advise the board on the company's future. It also evaluates business metrics, salary and income ratios, producing charts showing the company's current financial situation and helping to monitor the business.
4)
Beware of tax issues: As your business grows, taxes and payroll become more complex, increasing your 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 will be able to help you research suppliers and acquire the best deals for your need. Currently, with the new fraud prevention laws, a good choice of suppliers is essential, not only based on financial values, but on reliability. After contracting with the supplier, you should carefully consider whether the supplier is adhering to the terms of the contract, so as not to be held liable in cases of non-compliance.
6)
Update of regulatory processes: In addition to taxes, there are other aspects that government agencies can charge your company. Many companies face an increase in the 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 meet 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, hiring a accounting Office it can help the company in several aspects, identifying unprofitable businesses, realigning processes and re-evaluating prices of products and/or services offered.
As a business owner, it's normal for you to prefer full control over operations, but accepting that your business has the potential to expand if you enlist 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 affairs is already a good start for business expansion, but it's important that you choose experienced professionals, so you feel comfortable trusting your company's information.
A TATICCA – ALLINIAL GLOBAL provides integrated auditing, accounting, tax, corporate finance, financial advisory, risk advisory, technology, business consulting and training services. For more information, access www.taticca.com.br or e-mail taticca@taticca.com.br. Our company has professionals with extensive experience in the market and has certified methodologies for carrying out activities.