Your business has been going from strength to strength and it’s time to hire staff to help take on some of the work to help you meet your clients’ needs and fulfil the orders you have coming in. It’s an exciting time as it means that you are ready to grow the business. It can be a little daunting though if you have not done this before, and your legal obligations will change as you take on more and different responsibilities; you will now be an employer and will need to consider all the legalities that come with that.
Whether you are a limited company or sole trader, being at the front-end of your business is what you do best. You know your market, your product or service, and your clients. You know how to keep your clients happy and how to find new ones. You’ve probably taken advice on marketing and sales at some stage in your business’ life. When it comes to accounting this is not the place to try to save money. In fact, investing into hiring an accountant to help you run your business is what will lead to saving you money.
The management of generating invoices has revolutionised over the past decade. More and more businesses are switching to cloud platforms to manage their online accounting process, and are reaping the rewards. As a business owner, you might be a great entrepreneur, but the chances of you being a good accountant too are very rare. So, it is most likely that you would find bookkeeping to be a gruesome task, especially while trying to earn brand popularity for growing your business.
When it comes to your business your accountant can do a lot more than just calculate your tax bill for you. We can also help and guide you on all the following: Analysing trends and financial information within your business to help you ensure you are making maximum profits. Advising on all the ways you may be able to save tax. Monitoring your debtors and even providing a credit control service if required to ensure that your cash flow is not suffering due to late paying customers! Assisting you to prepare a cash flow forecast for the bank or for your own reference to ensure your business is properly funded. Producing monthly management accounts so that you can track your business’ financial performance and ensure you are on track. Producing...Read More