Looking to begin your dream of starting a business. If you want to succeed, you have to start by creating your business plan even before you start it. At the same time, it is prudent to seek the assistance of an accounting firm when drawing up your plan.
Ironing out your financial plan before beginning the business is a step in the right direction. A certified accountant will give you proper guidance to know what you should include in your business plan. Also, there are many other reasons why you may need to hire or outsource the services of a business certified accountant to ensure success. Take a look at what accounting services can do to your business:
Free Time for Your Business
You may think that you do not need an accountant if you have the know-how and have the right accounting software. But dedicating the accounting duties to the experts frees your time to concentrate on your core business. In addition, you need to have enough time to put all the accounting systems in place, which may interfere with the time you need for setting your new business.
You need to understand everything about taxation and filing of tax returns even before you begin your business. That will ensure that you set everything right from the start to ensure flawless procedures and avoid getting into problems with authorities. Business taxation is complex, and you need someone with the proper knowledge to help you set everything right. Also, it would be best if you had an expert filling your returns to avoid paying fines.
Do You Need a CPA or a Non-Certified Accountant?
A non-certified accountant can help you do most of the accounting you need in your business. However, a CPA is a qualified expert who understands accounting and has a license gained after passing state examinations. They also are required to get continuing education to keep up with all the accounting laws and regulations. Finally, a certified accountant is the one who issues certified accounts statements.
The size of your business and what you want to do will determine whether you need anyone with accounting knowledge or you need a certified CPA. When you are setting your business, you need someone with accounting skills to set up your business. The expert will help you in basic accounting tasks like bookkeeping and payroll. But a Certified Public Accountant will do much more than that. Here are two functions that only a certified accountant can do.
A certified accountant can represent your business in a tax audit, whether they are the ones who did the tax returns or not. They can also guide you in business finance matters to ensure you make the right financial decisions.
Certified Account Statements
A certified accountant can also issue you an audited account statement to request a business bank loan. They can also certify account statements to your suppliers, investors, shareholders, and any other person who needs your certified accounts.
Contact us at (480) 558-4400 if you would like some help with your small business.