Small business owners often overlook the magnitude of time that is involved in properly maintaining their accounts. In some cases, business owners can be guilty of thinking that by handling their own accounts this is an effective means to save money and keep costs down. And while it makes perfect business sense to cut costs and save money, scrimping on accounting services is not the way to do it. Hiring an accountant should be viewed as an investment rather than an expense.
Keep in mind, your accountant can be more than just the person who monitors and accurately records all your financial and tax transactions. A good accountant is also there to help advise you on the most effective ways to plan your finances and taxes in order to grow your business. Not to mention, they can also advise you on the legal side of your finances, too.
Accounting errors can prove to be costly to any company, let alone a small business just starting out, which could face devastating consequences if they mess up your numbers.
Unfortunately, it is now easier than ever to create a website and start a business from home, and the rise of the unqualified accountant is a problem.
It’s no secret that small business owners often make mistakes in their early years due to the lack of proper accounting procedures or through hiring unqualified people to maintain their financial records.
Thankfully for you, we can help you avoid any of these costly mistakes and we can help you pick an accounting service which is the perfect fit for your business. We have partnered up with Cobia Accountants to provide you with expert professional advice and cost-effective accounting services, including VAT registration with HM Revenue & Customs (HMRC) and the use of Xero software to ensure all your Making Tax Digital obligations are met.