Hire An Accountant To Ensure The Success of Your Small Portland Business
Many Portland small business owners may think they’re better off handling their company’s finances themselves rather than hiring an accountant. The truth is that hiring a professional accountant for your Portland business will save you a lot of stress in the long run. The top cause of failure for small businesses is cash flow problems so making sure the financial aspect of your business is handled correctly actually saves you money. Here are 5 important ways an accountant can reduce your workload and increase peace of mind at every stage of your business.
Getting Off On The Right Foot. When you hire an accountant during the early stages of your business, you will have systems in place to support its success from day one. This saves you from running around putting out fires when you need to be focusing your energy and efforts elsewhere. You accountant will set up a proper accounting system and choose the best accounting software for your business type. If you wait to hire an accountant for your Portland business, you may wind up needing to backtrack, clean up disorderly books, or switch systems to something more functional. Save yourself the headache and hire an accountant right from the get-go.
Tracking Your Numbers. Small business owners need to have someone with training and experience looking at monthly reports right from the beginning. Your accountant will help you set measurable business goals and track the company's progress towards meeting them. Having software like QuickBooks allows easy access to the most minute details of your financial reports, but having an accountant who can understand and study those reports on a deeper level lets you know where your Portland business stands and what changes need to be made.
Making Deadlines. Portland business owners are no doubt familiar with the many deadlines that must be met every year, especially those required by the IRS. For every deadline, there are corresponding fines and penalties for filing late. An accountant will be able to keep up with all those federal, state, and local deadlines. Additionally, a good accountant can direct you to the best resources for automating the most tedious tasks of filing and data entry to save time and money and ensure accuracy.
Making Informed Decisions. Portland business owners often take on multiple roles in running their small business. Your business depends on the constant flow of decisions that you make for your company. The only way to make the best decisions for your Portland business is to be as informed as possible. Having an accountant who manages your company's financials means having access to quality information when you need it. This is the kind of information that makes decision making easier and makes you more effective in all your roles as the owner.
Year-End Reporting. The end of the year comes with a holiday rush for just about any business. It’s also an important time to get the professional input of an accountant. Your accountant will be able to take a detailed look at your books. A few small changes can make a big difference to your bottom line. Your accountant will know what steps to take to minimize tax liability for your Portland business. He can analyze year-long financial reports and perform a complete health check on current operations. An accountant is one of your best assets in year-end procedures.
Business & Accounting Solutions — the best cfo and accountant for your PORTLAND business. Ready to hire a professional accountant for your Portland business? Business & Accounting Solutions offers a wide range of outsourced CFO services in Portland. We bring knowledge and capability to Portland businesses with expertise in services such as bookkeeping, cash flow, finance consulting, and more. Contact us or call at (503) 710-6213. Know someone in need of CFO or Accountant services? Consider our referral program.