8 reasons why you should hire an accounting firm to your company:
- You can use
your time on what you do best, your core business.
- You don’t need
to worry about if the bookkeeping is done properly or are periodic tax returns
filed in time. You avoid unnecessary worries and sleep your nights slightly
better.
- There is no
need to use your limited resources purchasing accounting software and learning
how to use it, let alone knowing how to handle the whole complex GAAP
(Generally Accepted Accounting Principles)
- You probably
won’t save any money even if you tried to do the bookkeeping by yourself. Usually,
at the latest when financial statement has to be made, entrepreneur realizes
that doing financial statement properly you need a significant amount of
expertise or helping hand of a professional. If entrepreneur decides to hire an
accounting firm at this point, usually the bookkeeping that has been done alone
by the entrepreneur cannot be used. Bookkeeping
needs to be done again from the whole year to make sure that there are no
mistakes.
- Keeping up and
updating knowledge concerning accounting legislation takes a lot of time.
- If tax authorities
or some other bureau sends you mail which content you don’t quite get, you have
always an accountant who can help you.
- It’s more
expensive to hire an employee, even with a part time contract, to handle
company’s bookkeeping and payroll calculations than outsourcing it to accounting
firm. Furthermore, company’s own financial manager can leave the company,
whereupon the knowledge disappears from the company. In contrast to previous,
accounting firm never abandons you.
- In the best
case scenario, accountant is way more than a robot who just handles your
bookkeeping. Accountant can give you tailored advice regarding for example
taxation, budgeting and payroll computation.
“Small enterprise” is a rather relative concept.
Accounting
Act 1:4a § (in Finnish) states that a small enterprise is a
company that exceeds at most one of the following conditions in fiscal year:
balance sheet’s total is over 6 000 000 €, turnover is over
12 000 000 € and average number of employees is over 50. According to
the
estimation of
Association of Finnish Accounting Firms, roughly 90 percent of small
enterprises are using accounting companies’ services. Statistics speak for
themselves, outsourcing is profitable almost in every case. The study of Association
of Finnish Accounting Firms also revealed that medium-sized enterprises would
also benefit from outsourcing their financial management more bravely. Roughly
half of the medium-sized enterprises have outsourced at least some parts of
their financial management.
Are you about to start your own company or planning to
outsource already existing company’s bookkeeping or other part of financial
management? Read more about our services
from here. We are an authorized
accounting firm, so our custom-made services will definitely fulfill your
expectations.
02.03.16
