When a business first starts up, virtually everything gets handled on an internal basis. There are important relationships to forge with suppliers, distributors, and service providers, but all the heavy lifting happens inside the company. Most often, that means the business owner handles the critical administrative duties—especially bookkeeping.
Controlling your own books and keeping a close eye on your finances can be an essential part of learning your business and driving towards success. However, over time, it can become a major burden—and it can keep you from moving forward. Outsourcing these duties to a proven accounting firm in Calgary can deliver key benefits that make your business more agile.
What are the signs that say you’re ready to make this move?
When you started the business, you may have split your time evenly between real work and administrative tasks. Do you now spend more time poring over the books instead of innovating? That’s a sure sign a third-party accountant can help you refocus your energy.
Have you finally started to gain traction in the market? If so, you’ll need an “all hands on deck” approach—and a smart way to manage an increasing revenue flow. Outsourcing your accounting keeps you dialed into the task at hand without slipping on the numbers.
An audit by the tax authorities is something everyone dreads—individual and business owners alike. Audits can turn your life upside down until they conclude. If you’re worried about how you’d handle that process someday, speak to an accountant and trust that you have an audit trail ready to go.
There are many times when outsourcing is more cost-effective than adding staff to your payroll. Run the numbers and compare the cost of an accounting service with the wages, benefits, and other costs associated with hiring. Chances are that outsourcing is the more cost-effective choice.
Even businesses with trustworthy staff are at risk of financial fraud, such as embezzlement. If you have reason to be concerned about the security of your funds, an accountant can provide key insights to help you identify and stop fraud.
Are you having trouble figuring out how to plan for the future of your business? How can you move beyond a “break-even” approach and start generating profit? Working with an outside accountant means getting back on top of your books and tapping into valuable insights.
At Reion Accounting, we understand how stressful it can be for the owner of a growing business to continue handling accounting duties. We deliver exceptional outcomes for our partners with an array of service packages and highly personalized service. Following best practices and using the latest software tools, we provide a service that’s easier and more convenient to access, too. Speak with us today to learn about making the transition.