Being a small business owner, are you spending the most of your day running your business instead of expanding it? When it comes to managing the books, you have an option of hiring an in-house bookkeeper to track your financial records or Consulting an accounting firm like Affinity Associates that can save time, money and quite frankly, the headache that comes with bookkeeping.
4 Signs Your Business Needs the Help of an Accounting Firm:
You are Stressed About IRS Audit
When you are managing your books on your own, there are chances that you leave behind some unwanted errors or omissions that would obligate the IRS to investigate further. Doing the books on your own leaves the door open to careless errors or omissions that would obligate the IRS to investigate further. Hiring an accounting firm like Affinity Associates reduces the potential for IRS audits by ensuring that your financial records are accurate. In the event, if you are summoned for an audit, Affinity makes it easy to validate anything that the IRS may question.
Your in-house Bookkeeper has Let You Down:
Many small businesses in London opt to hire an in-house bookkeeper to manage the books. Sometimes, it seems like a smart strategy, but if your part-time in-house bookkeeper:
- Doesn’t keep up with altering tax regulations in the nation?
- Goes on vacation for 3 weeks? Or worse case,
- Leaves the job entirely?
When you are depending on a single person to manage your books, there are higher chances of facing unwanted consequences for your business. By consulting an accounting firm like Affinity Associates, you gain access to an entire team of professionals who are available whenever you need them to be.
You are Paying Excess of Money:
Along with the risk of entrusting your important financial documents to an individual, there are higher chances that you are paying more. Usually, a full-time bookkeeper costs in £38,000 per year and the cost of a part‐time bookkeeper is roughly half that amount. Whereas, on the other hand, the average Affinity Associates client pays quite less depending on which services they choose to utilize with us. That’s a fraction of the cost of having someone in-house who may or may not be meeting your business requirements in the first place.
You Can Take Real-Time Decisions:
Bookkeeping services by accounting firms like Affinity Associates leverage cloud technology – so you can access your data at any time, from anywhere and on any device. The more accurate and timely your books are – the better tuned you can be with your business. The availability of all the data 24*7 will help you make real‐time decisions based on the financial health of your business.
Contact Affinity Associates to Know More
If any of the above-mentioned points apply to you, then you are definitely in need of professional accounting firms in London. To know more about how professional bookkeeping and accounting services can help your business grow and save more money.