One
of the most popular and extremely legal questions asked each day about
professional accountancy services is that when it’s time to move the white flag
and accept that outsourcing is the only way forward. Well, speaking from a
common sense view it is of course never a good idea to end up in a situation,
in business whereby any traditional white flags have to be waved – all this
means is that you’ve already got yourself in the way over your head,. Instead,
like most things in business, accountancy is something that should be
approached proactively and covered comprehensively from the earliest possible stage,
be it by expert hands or otherwise.
However,
while white flag situations must be avoided, there are still a few sure-fire
warning signs that time has come to visit in the pros, which include the
following:
Time
Commitments
Accounts
surely take time to look after and won’t take care of themselves, but should an
occasion ever arise where bookkeeping services
and duties seem
to have taken by far too much of what precious space is available, chances are
it’s time for a change. Time is such a valuable resource when it comes to
furthering a business, and while time taken to focus on accounts isn’t time
wasted per se, it is still, much time that could have been reinvested
elsewhere. The best advice is to sit down, work out how much time per
week/month/year is being swallowed up and ponder how it could be better
invested with the help of a pro.
Errors
Another
sign that something is going awry is the abiding presence of errors and
oversights, regardless of how trivial they seem to be. Accounting errors have exceptionally
real potential to blow up into headaches that are far better than the sums of parts,
representing at least one area of business where unerring accuracy truly is of
paramount importance. In the worst case scenarios, errors can lead to fines,
penalties, loss of income and even legal consequences.
Foreboding
Not
as easy to measure in a benchmark sense as all cases differ, but if and when
accounts mean and back up to the point when even thinking about them is as nasty
as a root-canal surgery, the time has come to call on those who revel in
sorting out the messes of others. It is simply a case of the longer the project
is put off, the worse it becomes and the longer it will take to sort out.
Experts are only ever a phone call away, and the assistance they can offer is
pretty much priceless.
Loss
of Data or Documents
Last
but not least, if time has ever come about when a valuable document, invoice or
vital element of accounting information couldn’t be found sharpish, it’s clear
that the current system isn’t working, and professional help is needed. Some businesses are in need of the most intricate SEPA transfer systems to
run their operations, others require nothing more than a pro with a penchant
for organisation and easily-accessible filing to make all the difference in the
world.
By
Lucy Spencer-
Lucy
Spencer is a small business owner from Durham who regularly bogs on financial
matters of critical interest to the SME population of the UK. Her husband
offers professional bookkeeping services and private SEPA Transfer consultation
for small businesses – the couple is expecting their first child in May.
No comments:
Post a Comment