You need an accountant to ensure that your business financial records are intact. You are also going to submit tax documents to the government. Without an accountant, you could end up violating the law. You will also lose track of all your financial activities. Hence, you start losing money before you even know it.
Hiring a full-time accountant is an excellent idea since you need someone to be with you the entire year to deal with your company's finances. You expect that this accountant will make it easier for you to track all your expenses and prepare documents that you will submit to the related government agency. Unfortunately, you hired an incompetent person for the job.
Your first option might be to provide additional training. You do not want to immediately give up on someone whom you could still transform to become a competent accountant. The truth is that you do not need a full-time accountant to do the job. You can outsource the job to other accounting companies out there. In doing so, you will only pay based on the transactions you requested.
Full-time accountants are also expensive since even if they are not working hard or they have nothing much to do in the month, you need to pay them. Add to that the benefits that you also need to consider. As such, it is best that you stick with outsourced accounting services.
Faster and more accurate
Hiring an accounting firm offers you lots of options. You can decide which services you want for a specific project. These firms have a bunch of highly qualified professionals who will do the job. Although they will assign a lead accountant to help you, they have other accountants who will take the documents if the lead fails to finish the job on time. You can find firms like this by simply searching for: accountant for a limited company.
As such, when you agree to receive the documents within a given time, the work will be done by that time. You might have problems with the government if you do not submit your tax papers on time, and these accountants will help you.
Accountable for their actions
When there are errors with the documents you receive, you can seek help from these accountants too. Let them know that you noticed discrepancies, and they need to do something about it. In most cases, they will fix the problem without asking you to pay extra. You can end your partnership with the firm if you are unhappy with their services.
Given these reasons, it is best that you seek help from experts instead of keeping your full-time accountant. You do not want to go through all these issues, and with an accounting firm by your side, you have nothing to worry about. Check out accountants in Central London now and seek their help. They will make the job seem easy. If you feel satisfied after the first time, you can continue using their services the next time.
