Eight Reasons for Hiring an Accountant

Do business owners still need to hire an accountant?

Definitely yes! Ooopppss, don’t get me wrong. I’m not giving a positive answer because I’m an accountant and I want you to hire me (although that won’t be a bad idea LOL). But I’ve seen my share of clients (small business or big business, doesn’t really matter) who thought they could do everything (before becoming my clients, that is) and then ended up regretting their decision. So, they ended up hiring us. But not before they already made several (sometimes, costly) mistakes in their taxes.

Okay, you ask, what if you have a business but you, yourself, are an accountant or you have a finance background. Do you still need an accountant for your business? Most definitely, yes! Why? Read further and you’ll know why.

So why should you hire an accountant? I’m sure there are various reasons out there, but let me just go through some of them.

Should You Hire an Accountant

1) Because you need to concentrate on your business

Sure you have an accounting background. But you’re also a business owner. Sure you can multi-task, but do you want to do so? Or would you rather just concentrate on running your business? Hiring an accountant means you have more time to concentrate on your operations and to grow your business. And let’s face it; that is really important right?

2) Because you need an ‘expert’ to crunch your numbers and prepare your tax returns

If you hire an accountant, chances are, you’ll be hiring an accountant who knows how to prepare your financial statements and your tax returns. That’s their (I mean, our) business and that’s where they’re (I mean, we) good at. So save yourself the headache trying to be a jack of all trades (your business plus your finance plus your accounting plus your taxes, etc.) and just concentrate on your business. Leave the numbers and the taxes to those who breath them day in and day out.

3) Because it is more efficient that way

Outsourcing your accounting and your tax preparation nowadays is viewed as more efficient rather than doing everything on your own. Your time is more precious than sitting behind the desk balancing your books, filling up your tax forms and paying your taxes. Let your accountant do these things, it is more efficient that way.

4) Because it is less costly…

Than being slapped with penalties and interests because you forgot to pay your taxes on or before the deadline or you make a mistake and you accidentally under declared your income or over declared your expenses. I don’t mean that hiring an accountant will mean that everything is 100% accurate but it could mean less mistakes. It’s our job to make it so and it is what we are paid to do.

5) Because there are just too many tax rules and accounting standards to keep up with

Okay, let’s say you are an accountant. You took an accounting course in college, graduated with honors, passed the board exam. But instead of practicing your profession, you went into business. And you think you don’t need to hire an accountant because you know all about the tax rules and accounting standards. Right? Wrong! Tax rules change over time and accounting standards? Well they are now changing too. I don’t mean that you can’t keep up with them but, honestly, do you want to pressure yourself to attend all those seminars, trainings, conferences, etc. etc.? Or how about reading all those new rules, laws and standards? One thing that separates practicing accountants from those who graduated as accountants but are not practicing their profession is that part of our job is to make sure that we are updated all the time, every time. I’m not trying to be condescending but let’s face it, we have the time. You don’t. It’s our job, it’s not yours.

6) Because we learn from other businesses, as well

As practicing accountants, we have various clients from various industries. We learn from different types of businesses, from different entrepreneurs with different styles. And we bring the benefits of what we learned to you. For us, the technical knowledge is just half (even less) of what makes us practicing accountants. The rest is composed of actual experiences and knowledge. Beyond the numbers and the taxes, we can also be your consultants as well and apply what we have learned from other clients in your business. Of course, don’t expect us to tell you from whom we learned these things, confidentiality is still the name of our game.

Hiring an Accountant will save you time

7) Because we can do other services as well

We don’t only crunch the number and calculate and file your taxes, we can do other services as well. From registering your business, to meeting with the tax guys for your account, to preparing a business plan (heck, even a long, thick feasibility study), to making an analysis, we’re your man (or woman).

8) Because you need to start right

I’ve seen clients who hire me when they have already been in operations after a few months or even a few years (without the benefit of an accountant, mind you). And while, honestly, we don’t mind the additional business, we’d rather prefer it if you hired us from the start. Why? Because it will save both of us the headaches of trying to clean up whatever mess you made when you still didn’t have an accountant. I’m not kidding. I’m just being honest.

And that’s it. Just one more – we’re in the business of serving our clients and if you want your numbers straight and your taxes prepared and filed properly, it is our job to do what you want. These are the eight reasons why you need to hire an accountant. Can you come up with reasons why you don’t need one?

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Comments 16 comments

dohn121 profile image

dohn121 6 years ago from Hudson Valley, New York

I think that one of the funniest pieces of advice an accountant has ever given to someone was my co-worker's accountant, who told him to "find different job." Yes, many of us do know how to our own taxes, but not all of us can do them well and do it mistake-free. Great advice, Emie. Maybe I'll hire you as my accountant when I get published ;)


emievil profile image

emievil 6 years ago from Philippines Author

LOL, find a different job???? I've never heard of that but then again, I guess your co-worker's accountant knows his/her finances well. Thanks. If you hire me, you'll be my first online client :D.


Hello, hello, profile image

Hello, hello, 6 years ago from London, UK

Thank you for a very informative and good advice.


Ultimate Hubber profile image

Ultimate Hubber 6 years ago

Emie, would you mind if I hire you as an accountant?! :-)


emievil profile image

emievil 6 years ago from Philippines Author

You're welcome Hello.


emievil profile image

emievil 6 years ago from Philippines Author

UH, LOL, sure. But it will cost you to hire me as your accountant :D.


Ultimate Hubber profile image

Ultimate Hubber 6 years ago

LOL!!!

I am sure, the cost can never compare the immense amount of benefits you mentioned here and in your blog. But I better establish my firm first, till then Google can happily rule the internet world (I dream a lot,LOL).


emievil profile image

emievil 6 years ago from Philippines Author

Wow! Your own firm eh. Good luck! Just drop me a message if you need help with the keeping the books side :).


mtsi1098 6 years ago

Well I have to agree here on the accountant remark. There is no way I could run my business without one so kudos to you accountants...these 8 reasons are absolutely in the black :)


prettydarkhorse profile image

prettydarkhorse 6 years ago from US

YES accountants rock, and my sister is also one, indeed we need them as they help us with MOOLAH hehe, Thanks emie, maita


emievil profile image

emievil 6 years ago from Philippines Author

@mtsi, thanks. It's nice to know that we, accountants, are appreciated. :)

@Maita, LOL. It takes one (or the sister / brother of one) to know a fellow accountant :). Thanks.


2patricias profile image

2patricias 6 years ago from Sussex by the Sea

When Pat's husband set up his own business he handed his accounts over to a specialised tax account even though he made little in the first year. The accountant charged a very low rate because he was pretty sure he would make more in the following year - and he was right. So we recommend hiring an accountant right from the start of a business.


emievil profile image

emievil 6 years ago from Philippines Author

2patricias, thanks for the vote of confidence. Hiring an accountant even when your business is only starting is really a good investment although, unfortunately, some see us as just an additional cost.


LizzyBoo profile image

LizzyBoo 6 years ago from Czech Republic

Excellent hub. I love to read about proffesions and what they are about. Thank you for sharing yours. Lizzy


emievil profile image

emievil 6 years ago from Philippines Author

You're welcome LizzyBoo and thanks for reading my hub.


Raging Bull profile image

Raging Bull 6 years ago from Melbourne, Australia

Excellent advice Emievil, may need your services in the future, look forward to staying in touch. Pleasure to be your fan.

Warm Hugs

Raging Bull Billie

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