A small business requires a lot of attention from the owner in order to stay open, grow, and compete with similar businesses. Most small business owners are experts in their chosen field, they are not accountants. For them, small business accounting is a time consuming challenge. They struggle with software programs, they are taking time away from the actual business to get the chore done, and they give up their evenings or weekends to complete those tasks. Hiring an accountant, or maintaining an accountant department, may not be in the budget. There are options to alleviate that burden, while still keeping costs down.
An outside small business accounting firm can help with all, or part, of the accounting aspects of business. An experienced firm that works across industries is cost-effective, efficient, and beneficial to any small business. If the business has a person that can enter information into a software system, the firm can show her how to get the most out of the program through training and support services. A small business that has an efficient accounting system in place, may only need help with tax preparation or closing out accounts at the end of the year.
A new business may need start-up help, or full accounting services long-term. The business owner can chose separate services a la carte, or opt for a full services package. Services for small business include payroll, compilations, financial software training and support, pension plans and profit sharing, collections, tax planning and preparation, management reporting, accounts payable and receivable. Temporary services are also available to cover vacant accountant positions, vacations, and medical or maternity leave.
Using an accounting firm allows a business owner to focus all their attention on what they do best. The retailer can focus on advertising, ordering supplies, expanding the merchandise lines available, and training customer service staff. The dentist can focus on new procedures, procurring equipment using the latest technology, attending conferences, and adding a new location downtown. Leave the experts to deal with payroll numbers, tax reporting, accounting for dentists, and providing services to the shop owner. Focus on the business, and eliminate the chore of accounting tasks.