8 reasons for new business owners should hire a professional accounting

Starting a new business is an exciting time!
You have a lot to do:
Create a marketing logo design.
Collect your store, shop or office.
Hire staff.
Inventory and order office supplies ... and so on and so on.
It is hard to follow!

Money is always tight when you start a new business. You do not want to spend money where it is needed. After all, the money will be tight for the next while.

This is why many new business owners to "save" money by doing two things:

Make your own accounting, and
Use a spreadsheet like Excel to do it.
It would be too hard to say that these are big mistakes. After all, you want to avoid unnecessary expenses. And if you do not have the money to pay a professional now, although the right is reality.

At the same time, I want to examine why this would not be a good idea. In fact, this might be the case that the services of a professional accountant can be a great way to spend some of your precious resources.

You can get your business set correctly. If a property or a single company, creating multiple accounts is important. These may include:

The creation of all accounting categories should follow their activities (eg Advertising⇒Print, Advertising⇒Online, Advertising⇒Newsletters)
Sales tax accounts with the tax authorities
Payroll source with tax authorities
You avoid big mistakes that you have to pay to have corrected along the way.

We spent hours mistakes such as not knowing the difference between an asset and mounting costs.
If meals and entertainment expenses occur, you know how to properly record the sales tax?
You establish accounting principles habits.

Create a special place where all receipts meet
Learn to save if you know how they will be classified
Return them to treat each month
Expect regular reports on your company's financial history
You release time to work closer to the "core" of your business.

What makes more money: Sitting at a computer doing data entry, or speak with current and potential customers? Brainer!
You take some concern.

Get a call or a letter from the tax man saying this or that remittances has not been done, it's stressful. Avoid this.
You start early to make business decisions on the financial database updates.

When it comes time to make a big expense, or hire someone comes, you must know your numbers. They will help you make better business decisions.
This is compared from month to month and year after year.

Good accounting software comes with many reports that reveal how it is. When starting the right way, you have access to all this information from the beginning.
You'll be ready for your accountant, and he or she will be charged less.
With the presentation of your counter with a set "clean" book is done and he or she a favor.
Your accountant wants things to make some adjustments according to your requests and get the tax in the tax department.
The less work you have to do is the best for you, the business owner.
Spend money lightly is a stupid way to start a new business. Spend money only when necessary.

When it comes to accounting, spend money wisely initiate this important responsibility on the right foot.

Richard Sherry is the business development manager of accounting more Minaris Inc., Calgary, AB. He runs the company with his wife, Sherry Minda. Before joining the company, I was a little frustrated with the business process of getting their books and made accounting. Now that he has acquired the passion of Minda serve small business owners need 'to see your financial history.

Our mission is to provide peace of mind for small and medium businesses that need outsourced accounting services help avoid regulatory problems and the collection of critical business information they need to succeed. We do this by systematizing our operations for efficiency, offering flexible service options, fair prices, schedule completion time and regularly talk with our customers. Visit us at MinarisBKP.com.