Considering who to hire? Accountant or accountancy firm?
Hiring an accountant, one should evaluate that a person will need to spend a holiday, and he may be unexpectedly ill. In this case, the accounting issues will not be resolved, the company managers will not be able to get important financial indicators, and other employees of the company will be charged with the work of the accountant as they will have to be accomplished. In addition, an employee can unexpectedly get out of the job at the most unfavorable and responsible time, and finding a qualified professional can become a real puzzle.
If your business is seasonal, you only need to hire an accountant for the period of your business. It may be difficult to find a qualified employee who will agree to work under a fixed-term contract, and you must also take into account the fact that every year you will have to look for a new employee and place it in the company and get acquainted with the specifics of the company, what it is and what it takes. Meanwhile, an accountancy firm will always be ready to provide you with the services you need and advise you on emerging issues not just at the season of your business.
In terms of costs, when you hire an accountant, you have to pay a salary that is higher than the minimum wage and the related fees, equip the workplace, purchase or rent an accounting program, while you would pay the company only for the work done (we calculate the base and variable price, more). It is important to note that the cost of accounting services will be calculated each month and may vary depending on how much you had job. This means that you will be able to use the saved money for business development rather than paying for accountant’s job. We can also ensure that the accounting program is constantly updated.
It is also very important that the company is not a single employee, but a team of professionals who solves problems and questions quickly and qualitatively.
Considering hiring your own accountant or using accountancy services, you have to evaluate:
- Company specifics and business activities;
- Expenditure relating to the establishment of an accountant workplace;
- Cost of accounting services;
- Competence of employee and accountancy services company;
- Work productivity and stability;
- Responsibility (accountancy firm has insurance).