So, you finally started your own company! That’s great news, and we’re super proud of you… But, what are you going to do for accounting and bookkeeping services? Did you decide whether you’re building an in-house team or outsourcing? Did you check your local laws and regulations? Are you closely following industry trends? No? That’s okay!
There’s no need to stress – we’re here to provide you with a professional staff that has all the answers. While you focus on what you do best and build your own career, we’re offering you experts from the finance world that will deal with that aspect of business for you. This article is a run-down of all the things you need to know before building your team.
What are accounting and bookkeeping services?
To someone looking from the outside into the financial world, maybe the terms accounting and bookkeeping sound a bit too similar. So, that’s where we should start – with a brief explanation.
Bookkeepers: record and gather financial data (collect the important numbers). They handle payroll, invoicing, receipts, and bills.
Accountants: interpret and present financial data to CEOs (their job is to understand what the numbers mean). When it comes to day-to-day activities, accountants handle financial statements and reports, budgets, and tax returns and analyse business performance.
As you can see, their duties sometimes overlap. This is just an outline of their professional capabilities – in practice, their exact roles differ from company to company. It’s also possible for an accountant to do a bookkeeper’s job, but a bookkeeper needs certification to be considered an accountant. This is something to keep in mind if you’re running a smaller business that may only need one person in the financial department.
Why are they important?
For legal reasons. It would be a shame for a great idea to go belly-up in the business world due to a technicality or a legal bug that could have easily been avoided. That’s why you need to bring professionals aboard, and they can help you keep your business squeaky clean.
If, for whatever reason, staying above board is not enough to convince you to find the best experts for the job, please consider that not everyone in this world has your best intentions at heart. When you have someone with a degree in finances and a significant amount of experience backing them up, you’ll have someone to warn you if you’re in danger of getting scammed. Don’t get us wrong – we trust that you can take care of yourself – but scammers can sometimes be so sly that you’d never see them coming.
Another big reason is that you need to have a good overview of all your company’s activities. This includes finances, too! The best practice is to organize weekly meetings (or however often you feel it’s best for your specific business, but it’s usually done on a weekly or biweekly basis). At these meetings, your financial department presents its activities and the financial state of the firm to you. From there on, you get tasked with making whatever decisions you see fit.
Who can help you?
By partnering up with FinSuperstars, you can save up to 32% on labour costs! We’re a company that consists of financial experts from all across Europe. Our rich previous experience allows us to handle all your bookkeeping and accounting needs with ease and at a reduced cost compared to traditional, in-house finance teams.
Other than accounting and bookkeeping services, we also provide:
- Financial Analysts
- Financial Controllers
- Tax clerks and billing clerks
- Finance Managers
- Financial Accountants
- Payroll and timekeeping clerks
If you have a company that’s lacking in the financial department and want us to help you raise it to the next level, you can always schedule a meeting and get started with building your own custom external team!