Hiring an accountant depends on whether your knowledge, time, and money are best spent on bookkeeping, loan application, and tax preparation, or whether you have higher priorities…
So here are 4 more signs you might need an accountant:
1. Revenue is increasing but profit isn’t.
If you’re selling more than ever, but you aren’t seeing more profit, an accountant can take an objective look at your overhead costs and point out areas where you can cut costs or make other adjustments to increase those profit margins.
2. Profit is increasing but cash isn’t.
If you’re profits are more than ever, but you aren’t seeing more cash, an accountant can take an objective look at your cash flow and point out areas where you can cut improve cashflow.
3. You need professional financial reports.
Accountants can create detailed, accurate reports that keep you happy and allow you to focus on the areas of the business you should be doing. Additionally, if you are looking for a loan or funding you will need to present a polished business plan. An accountant can help you flesh out the financial portion of your plan, ensuring you haven’t missed anything and at Robertson Associates we can also help you to develop other elements of the plan to demonstrate how the finances stack up.
4. You're planning to buy or sell property, or sell your business.
If you want to grow through an acquisition, sell off parts of the business, or sell the entire business, an accountant can walk you through the process and determine how to structure the transaction so that you aren’t hit with any surprises. At Robertson Associates we can also help you think long-term about how to maximise the value of your business if your long term plan is to sell.
There you have it, and as before, if you think you need help regarding your accounts feel free to give us a call on 0132 430 9018.