Does Every Small Business Need An Accountant, Or Can You Sometimes Wing It?
Source: Fundera | Repost QBScott 1/28/2021 –
Maybe you’ve just started your business, and you’re wondering if you need to hire an accountant. Or perhaps you’re still in the planning stages of a new venture, and you’re deciding whether or not you need someone dedicated specifically to your business’ accounting, before going all in.
If you ask an accountant whether or not you should work with someone to help you with your books professionally, you know the answer will be yes.
But you can trust that they’re not saying “yes” for their own benefit. Most successful business owners who work closely with an accountant will tell you an accountant is an absolute must. In fact, results from a study conducted by Intuit, the maker of QuickBooks, TurboTax, and other financial software packages, show that 89% of small businesses say they see more success with an accountant or an advisor.
Still, it’s reasonable to wonder if every single small business really needs an accountant. Isn’t hiring an accountant overkill if your business is very small? Can you just “wing it” until you get to a certain revenue level?
The answer is a resounding, “Yes!” And also, “No!” We’ll explain… because that doesn’t make any sense. But it will.
Author: Scott Meister, CPA
I help small businesses, accountants, bookkeepers, office managers, and business owners with their accounting needs. I’ve used QuickBooks since 2002 and train folks on how to use it efficiently. I create high-quality video training tutorials for QuickBooks and post them on QBScott.com.
Certifications include: Certified Public Accountant (CPA) | Certified Bookkeeper (CB) | Advanced Certified ProAdvisor for QuickBooks Desktop | Advanced Certified ProAdvisor for QuickBooks Online | Certified ProAdvisor for QuickBooks Enterprise | Certified ProAdvisor for QuickBooks Point Of Sale