8 reasons to hire an accounting firm

8 reasons why you should hire an accounting firm to your company:

  1. You can use your time on what you do best, your core business. 
  2. 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. 
  3. 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)
  4. 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. 
  5. Keeping up and updating knowledge concerning accounting legislation takes a lot of time.
  6. 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. 
  7. 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.
  8. 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.

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