If you’ve started your own business, you know the highs and lows already. The great feeling from getting more clients, doing the work you really want to be doing and being your own boss. But there’s always another side to that coin. Late nights, stress, financial insecurities. But the thing that’s often not talked about is all the administration work that needs to be done and seemingly never ends.
Working on the books for your business is an important, and often time-consuming, job that needs to be done for legal and taxation purposes. And it needs to be done correctly or you could be up for financial penalties and severe audits.
There are two options for this work – do it yourself or hire a pro. When doing it yourself you’re not paying for a professional, but you are paying in time. And is it worth it?
We’ll explore the top 5 reasons that hiring a business accountant is the right choice for your business.
1. It Saves You Time
Just because you’re able to do your own accounting and financial reporting doesn’t mean that it’s the best use of your time. If it takes you 10 hours a month to manage your books and you charge yourself out to clients at an hourly rate of $150 – you’re actually losing $18,000 in revenue a year. Is that an expense that you’re willing to pay for?
Hiring an accountant means that you’ll be freeing yourself up to focus on what you do best and can develop the business to generate more revenue. And a business accountant will rarely cost you $18,000 a year!
2. Reduce Your Risk
Working on your own accounts, at 11pm after a full day of work is not the best way to go about things. Mistakes can be made when you’re running on empty. And when it comes to accounting and tax returns, a mistake can really cost you!
At Bartley Partners, it’s our job as business accountants to know not only your business, but the current government and ATO regulations. We provide a service that will always be compliant with the most current laws and regulations. So you can rest assured that everything submitted is correct and on time. Which means that at 11pm you can go to bed and sleep easy know you’ve made the right choice for your business.
3. Save Money
It’s not just the job of a business accountant to simply follow a formula and submit your tax returns. One of the highs of our job is finding a way to save you money, whether it’s through tax claims, business structure or cash flow management.
Keeping more money in your pocket is what we live for.
At Bartley Partners, we base our success on yours. If we can help your business grow, build revenue and operate more efficiently, we count that as a win. If we’re simply submitting paperwork to the ATO without a deeper look…well that’s something that we just don’t do.
We can help you grow your revenue and profits by being smarter, not by working harder.
4. Find a Business Structure that Works
There are many business structures that you can follow – and finding the right one can be mean that you’re paying for what you don’t need or even stifling your growth.
When you work with the experienced business accountants and financial advisers at Bartley Partners, we take it upon ourselves to learn the ins and outs of your business and future goals. Which means we can set you on the right path as soon as possible to help you get there.
5. Growth Strategy & Management
Growing your business to more staff, more clients and more offerings doesn’t always mean more profits. There are costs associated with making your business bigger. So when it’s time to grow, you need to know the best way to go about it to remain profitable.
We specialise in growth strategies for Adelaide businesses, and know how hard it can be for a business owner to be able to step back and look at their situation from a clear perspective. We love working closely with our clients to identify when it’s time to grow and the best way to get there.
Because your business accountant knows your books so well, it’s easy for us to make call on what’s achievable and identify the best way for you to move forward.
Are you ready to save time, money and grow your profits without having to put in those extra hours? We’re ready! Call Bartley Partners today on (08) 8388 1033 or get in touch online to learn how we can help you.