These types of considerations are universal – they arise at every stage of the business life cycle and across all industries. However, one of the most common overarching questions facing business owners today is around which type of financial professionals they should employ to oversee these matters.
Business owners wonder if a bookkeeper will be sufficient for their needs, whether an accountant is worth the added cost, if an accountant can cover bookkeeping functions as well or if both will need to be hired in tandem, and how to transition between the two. Addressing these deliberations requires a thorough understanding of business needs and a foundational understanding of the simple question, “What will the bookkeeper or accountant be required to do?”
For situations where the financial relationship is limited in duration (like during tax season or throughout an audit) it often makes more sense to use a third-party accounting company instead of hiring an in-house accountant. Partnering with a company externally can accelerate the process of finding an accountant, minimize the costs associated with doing so, and improve financial results.
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