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Back in the day, people/small business owners will only remember their accountant, when its tax time or they have a huge influx of money and looking for a piece of advice or two where and how to invest their money.
As an Accountant and small business owner myself, I can’t stress enough the importance of our professional expertise on the day to day operation of the business. We are highly trained to handle all the financial management needs of the company so that startups or established small business owners company can focus as to what is the most important aspect of their business-attending to their client needs. Happy clients eventually turn to increase SALES.
According to the recent Tsheets survey by QuickBooks, 85% of Small business owners felt that hiring or partnering with a GREAT accountant or tax expert helped them save money in the long run. One of the misconceptions or hesitations they have in mind during the infancy of their business is that hiring a highly skilled accountant need them to spend a huge chunk of their revolving capital. You can get good service by hiring a freelance accountant, virtual accountant or with the help of small/medium accounting and tax firm. It is just a matter of researching your options.
Another mistake of some of the startups business owners is to offer delicate positions available to their friends, acquaintances or family members due to a trust issue. While this is true, but if those trusted individuals are not properly trained or skilled in accounting and tax matters, a simple recording mistake will cost the company hefty penalties, interest, and tax owing to the tax authority.
Bottom-line is that a good Accountant is just more than your LIABILITIES at the end of the year but can be treated more as real ASSETS. Partnering with a great accountant is a wise business investment.
Gemmar Padin, CPA, CGA is an entrepreneur herself as the owner of G.Padin, CPA Professional Corporation-located at London, Ontario. Her passion has always been about supporting the startup owners with all of their financial management needs in one convenient location.
