It is OK, you have small business and you can not pay any accountant for his service. But think from my point of you. Think the help of accountant which he will give to you which will be one thousand times more than the money which you will pay.
Following are the main ways of Accountant's unique help to small business.
1. Accountant Helps You to Choose Your Business Model
Accountants are the experts of maths calculation. When you tell your capital of investment and assets which you will invest, your accountant will tell you which business model will be good for you. Whether to open individual business or partnership or company. You can take foolish decision of wrong business model. For example, you have small capital and chances of return is very small, then it will be wrong to create big company. You will get involved in big payments of completing the formalities of company creation. Your accountant will keep your capital safe as he care his own son.
2. Accountant Helps You to Increase Your Sale
There are lots of ideas in mind of accountant to increase your sales if he will see your all past sales reports. Take his advice means you are saving your big advertising budget. When accountant will make and see your financial reports. He has lots of tools to analyze the financial statement. He will see which products boost the profitability of company at lowest cost. He will suggest you to produce more such goods.
3. Accountant Helps You to Save Your Tax
Country like India is country where there are lots of taxes like income tax, VAT, service tax, property tax, vehicle tax and so many others. All will direct decrease in the profitability. Accountant has the knowledge of saving tax legally. With his intelligence, accountant can save your tax. His annual salary, you can easily earn through saving of your income tax.
4. Accountant Helps You to Manage Your Audits
You are doing small business. Your accountant will help you to audit your books of accounts. With this, you can find what are the main mistakes in accounting reports. Correct reports of accounting will help you to take the decision for better business. When your business will grow, he can suggest good auditor for you because
5. Accountant Helps You to Better Investment in Big Projects
You have small business, so it is sure, money in your pocket will be too small. If you invest it in wrong project, you will be insolvent within one day. So, accountant will help you by analysis the project through capital budget techniques and suggest you which is best for your investment.
Related : How can Accounting Help your Business Succeed
Following are the main ways of Accountant's unique help to small business.
1. Accountant Helps You to Choose Your Business Model
Accountants are the experts of maths calculation. When you tell your capital of investment and assets which you will invest, your accountant will tell you which business model will be good for you. Whether to open individual business or partnership or company. You can take foolish decision of wrong business model. For example, you have small capital and chances of return is very small, then it will be wrong to create big company. You will get involved in big payments of completing the formalities of company creation. Your accountant will keep your capital safe as he care his own son.
2. Accountant Helps You to Increase Your Sale
There are lots of ideas in mind of accountant to increase your sales if he will see your all past sales reports. Take his advice means you are saving your big advertising budget. When accountant will make and see your financial reports. He has lots of tools to analyze the financial statement. He will see which products boost the profitability of company at lowest cost. He will suggest you to produce more such goods.
3. Accountant Helps You to Save Your Tax
Country like India is country where there are lots of taxes like income tax, VAT, service tax, property tax, vehicle tax and so many others. All will direct decrease in the profitability. Accountant has the knowledge of saving tax legally. With his intelligence, accountant can save your tax. His annual salary, you can easily earn through saving of your income tax.
4. Accountant Helps You to Manage Your Audits
You are doing small business. Your accountant will help you to audit your books of accounts. With this, you can find what are the main mistakes in accounting reports. Correct reports of accounting will help you to take the decision for better business. When your business will grow, he can suggest good auditor for you because
5. Accountant Helps You to Better Investment in Big Projects
You have small business, so it is sure, money in your pocket will be too small. If you invest it in wrong project, you will be insolvent within one day. So, accountant will help you by analysis the project through capital budget techniques and suggest you which is best for your investment.
Related : How can Accounting Help your Business Succeed
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