As a small business owner the importance of your bookkeeping, accounting, and tax compliance may not have yet sunk in. Some people think that because they own small businesses with fewer than twenty employees they actually would be wasting their money hiring an accounts and advice agency to help them with some of their office work. The truth is the small business needs accounts and advice professionals more than the larger businesses and corporations do.
A large corporation or company has the resources to hire in house employees to do their bookkeeping, accounting, tax consulting, and all other office work necessary. The little mom and pop operations that employ less than twenty employees cannot afford to hire these types of employees and keep them in-house. They can however afford to hire an accounts and advice firm to help them do the office tasks they cannot do alone.
The smaller companies can hire accounts and advice Au firm to manage their accounts on a monthly or a quarterly basis. The same accounts and advice AU agency they employ to do account management can also manage their payrolls for them. The accounts and advice AU firm will be able to make certain that the employees are all registered with revenue. They can produce the pay slips for the employees and they can calculate and pay taxes. They will also produce and file the necessary revenue reports like the P30, and P35.
You may not realize just how many man hours go into the payroll section of a little operation. With fewer than twenty employees you will need someone to do all of the calculations for the amount the employee has made that pay period, then they have to calculate the year to date amount the employee has earned, and hold all of the appropriate taxes out to pay to revenue, and record every bit of this information in ledgers so that you have a record of all the pay you have given through the year when it comes tax time for you. The person doing these tasks needs to be excellent at accounting, records keeping, bookkeeping, and money management. An accounts and advice firm is all of those things and more.
Hiring an accounts and advice firm for the larger companies is beneficial because they do not have to hire as many payroll personnel, and they do not have to train as many employees to do all of the necessary tasks that come with keeping up with these different aspects of company documentation.
The recommended action for any proprietor is to call an accounts and advice AU firm and ask them what services they can provide to your company. They will be more than glad to meet with you and explain all of the many different services they have to offer you.