Accounting Services For Your Business
Posted On: 24/06/21 - 0

Running a business is not an easy task. There are a lot of tasks that you have to take care of for the business to run smoothly.  As a business owner, you need to be more interested in the generation of revenue and profits for the company. That is what generates your income versus working on the accounting and bookkeeping. This paperwork can be the most agonizing and time consuming job for business owners. Outsourcing your accounting and bookkeeping to  business accountants can free up a lot of your time.  Time that you can spend doing what you are passionate about.

Outsourcing Accounting Services

Outsourced accounting is beneficial for both the business and the business owner.

Firstly, You can Focus on Revenue Generation

Professional accounting services gives you more time to focus on the growth and revenue generation of you business. When you’re the owner of a new company, most of your time is spent in dealing with clients, staff, ordering product, paying invoices, etc. Hiring accounting services provides you with extra time to plan your marketing and other important responsibilities for revenue generation.

Secondly, Outsourcing Lowers the Costs of Accounting Solutions

Software, storage and security need to be used in order to keep all financial information safe at all times. Calculations of the transactions is done using advanced software that is ever-changing and highly technical. When you delegate your accounting to specialized accounting firms, you save so much precious time that allows you to focus on other very important tasks within your business.

Thirdly, Hiring a Service Minimizes the Risk of Mistakes

Hiring an accountant within your business costs not only in terms of their salary, but also in terms of the time for training and explanation. Don’t forget that you also have to pay the person until they are fully functional. Even after that, there is the risk of mistakes in accounting that need to be checked by a supervisor. Business accountants in Edmonton are already equipped to begin the job without you having to invest in training time, or having an accountant on staff. Since the entire task is outsourced, you need not worry about supervising the accounting and bookkeeping for your business and frees up cash that you would otherwise have to invest in an employee’s salary.

When Should You Hire An Accounting Service?

In the Beginning

It’s okay for you to think that you should have control over every aspect of your business as an entrepreneur. But think about what is most important to you.   You need to focus on making your plans and goals become a reality in your business.  Accept right from the start, that you simply cannot do it all.  As a business owner, you have more important things to tend to.  Spending hours on paperwork does not generate an income for you.  

When The Bookkeeping Gets To Be Too Big Of A Job

As the business grows, your revenue should grow too. Bookkeeping and accounting tasks will continue to grow with your business. And so does the time necessary to complete these tasks. When the company expands and grows, the responsibilities of the business owner increases too. It is hard to fit accounting and bookkeeping into your everyday duties. Outsourcing your accounting gives you peace of mind to focus on the more important areas of your business.

Your Business Year End

The end of your business year is the most stressful time. It’s the time of the year when all the data from the previous year has to analyzed and calculated. The reason for this is there is an annual tax return that needs to be prepared in order to pay taxes to the CRA. Outsourcing a part of your fiscal year-end accounting to a specialized accounting firm can get you accurate and time efficient results.

If you are a small or medium-sized company that has grown significantly, we’ll help you focus your energy on managing your company while we take care of the accounting.

12203-107 Avenue.
Edmonton, Alberta.
T5M 1Y9

Call us:
780.482.7297

cheryl@padgettnw.com