When Should You Hire a Small Business Accountant?

There are many reasons to choose to hire a small business accountant in Bristol. For one, they can help you with your company’s legal structure and offer you sound advice regarding your finances and day-to-day records.

But because you’re still in the early stages of your business, you might be wondering the best time is to hire an accountant. To help you, BarrettStacey Accounting tells you when you should get the services of a professional accountant to help you with your business:

When You’re Setting Up a Corporate Structure

You’re making the most of the opportunities that company structure brings. Setting up a company might seem daunting at first, but a professional accountant will guide you through the process. They will help you through the legal procedures, including forming a limited company and let you know if you’re eligible for government incentives that you might be able to apply for.

While you may think that you can work out your own business’ structure, it’s probably best to leave it to the experts. You’ll be able to get everything sorted and registered without any problems.

When You Are Dealing with Statutory Accounts and Tax Returns

Whether you’re filing a company account or personal tax returns, you’ll need to know the regulations and how you should stick to them. Having an accountant on your side will help you work through your accounts and make sure that you adhere to the relevant regulations.

When You’re Expanding Your Business

Your business will grow and, with it, the range of accounts and tax returns that you need to work on. When you’re ready to take your company to the next level, you will need to make sure that you have a set of up-to-date accounts that you can submit to investors, banks, and other financial institutions.

When You’re Hiring New Employees

As your business grows, you may need to hire more people to help keep up with demand. In the hiring process, it’s important to ensure that the new employees are registered correctly, on the books, and receives the correct paperwork.

When You Need to Do Cash Flow Forecasting

Cash flow forecasting is an integral part of the accounting process and will give you the insights you need to make financial and business decisions. While it seems simple, cash flow forecasting can be achieved in a number of ways, and you’ll need to make sure that you’re doing it correctly. To make sure you get it right, it’s a good idea to seek the help of an accountant who can do this in their sleep.

When You Need Help Accessing Financing Options

It’s crucial that you have the access to the right financial options to help your small business. Whether you want to go for a loan or get funding, a good accountant can help you with the process and make sure that you get the right type of finance.

Conclusion

By looking at these points, you probably realise that you don’t have to wait to hire a small business accountant in Bristol. As soon as you set up your small business or start to take it to the next level, you should make sure that you have professional accountant on your side to help you every step of the way.

When you’re ready to get business accounting services, BarrettStacey Accounting is here for you. We offer the services of an expert small business accountant in Bristol. Whether you need help with your business structure, your taxes, payroll, or something else, we can help you. Get in touch with us today to set up a meeting!