Talking Cents

Do Small Businesses Really Need A Business Accountant?

When you’re a small business, a lot of things can be overlooked because you’re trying to get your business rolling so the last thing you want to do is spend on additional things like hiring a business accountant. For whatever reason, businesses see that there’s only a need to have a business accountant around when their business is big. But, we can tell you now, a business accountant can come in handy whether you’re operating a big or small-sized company. We often hear the question “do small businesses need a business accountant?” and while we can’t say “you definitely do”, we do think it needs to be considered before you turn a blind eye. If you’re stuck on whether you should hire one, here are reasons why a business accountant is helpful for small businesses.

Taxation, Need We Say More?
Even if you’re not a business, it just feels like the taxation period is always right around the corner. As individuals, preparing your tax returns is already tricky, can you imagine the complexity of it when it’s a business? But yes, granted that as a small business, the chances of you incorrectly doing your taxes is less than that of a big company but nevertheless, transactions can be overlooked. This is where the job of a business accountant comes in, they can track down what is missing and how accurate the tax statements are being prepared.

Don’t Wait Until It’s Too Late
Whether it is a big or small business, a lot of the time, businesses turn to a business accountant when they are already in a mess and need help getting out of the pickle. While the financial expert can help you try getting out of it, having gone from the get-go can prevent you from falling there in the first place.

Get Off On The Right Foot
As a small business, it’s hard to generate profitability because you’re still very new to the industry so you can expect profit margins to be quite slim hence, the last thing you want is to increase expenses. One way a business accountant can help you with this is they can help you “find money”. For example, when it comes to taxes, they know what your business can claim back so there’s no need to consider those purchases an expense.

Give a little time for yourself
Entering the business landscape is tough, no one wants to see their business fail but how can you find the right balance to make sure you are keeping your business on top of the game? It’s simple - hire a business accountant. With a small business accounting firm in Sydney like the M.A.S Partners in the picture, so much financial weight is lifted off your shoulders. We are dedicated to making your life easier so an investment in us is an investment in your business. To speak with our team of small business accountants in Sydney about the services we offer and what we can do for you, visit our website at https://www.masaccountants.com.au