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Start up Series: The benefits of engaging a good accountant

Welcome to the fourth blog in our series for new start up businesses. To read earlier blogs in the series click here.

Starting a new business can be both an exciting and somewhat daunting time. There is often so much to do and to think about and it can become slightly overwhelming. Most people who start-up in business do so because they have a good business idea. They often also have the enterprise and commitment to see it through. They are usually not experts in the legal, financial and fiscal aspects of running a business.

So getting a good accountant on board from the start can be a great help in making your business successful, as well as saving you time and money. There are a number of services and benefits an accountant can provide to you and your business – it’s not just book-keeping and calculating your tax liabilities.

The benefits of working with a good accountant

Here at DNG we don’t just help clients with their taxes, we also offer business advice and support which can be invaluable to new start-ups. Bring us your business ideas and we’ll help you to evaluate them in a constructive and realistic manner. We can also assist you with business planning and ideas on how you can grow your business and maximise its worth.

Being a business owner can be a lonely place to be. Having advisors that can act as a sounding board to discuss your worries, plans or business challenges can be a huge help. Particularly when you are just starting out. All of our partners are business owners themselves. So they can not only offer you their financial experience but also their commercial experience. Click here (link) for further details on the services we provide to start up businesses.

We can help you implement good accounting systems from day one. Saving you time and allowing you to keep on top of your finances. Our team includes experienced certified advisors for Xero, QuickBooks Online and Sage Business cloud accounting software. We can get you set up, provide training and on-going support. This will ensure that you and your staff are fully equipped to use the software. Getting the right accounting systems in place from the start can really save you time and money in the long run.

There are a number of benefits to using a cloud based system. The software pulls together all of your data and creates accurate and tidy records which is key in business. It’s an online system so you can login and view or update records from anywhere you can connect to the internet. The software can be connected to your bank to automatically import your bank statements. Saving you time compared to manually entering the data. It also means that both you and your accountant can keep a close eye on your finances in real time. For more information on cloud accounting click here.

Finally, what accountants are known for – Tax! You could manage your tax and finances yourself but this can be confusing and takes up your valuable time. Instead why not leave it to the experts. A good accountant will be aware of all of the various tax rules and regulations as well any changes or updates. Having a good accountant can save you money as well as time. For example, did you know some very small start-ups can benefit financially from voluntarily registering for VAT?

By understanding what you are striving to achieve your accountant can advise you in advance on many areas including the best ways to structure your business; purchasing business assets; remunerating you and your key people.

Our Service at DNG

Hiring an accountant during the early stages of setting up your new business can really be a benefit to you. Saving you time and money in the long run whilst also providing you with valuable business advice. Also when it comes to tax you can leave it to the experts while you get on with the important task of running your business – which is your expertise.

Visit our website for details on the services we offer, including those for new businesses, and read testimonials from our existing clients. Contact us today to discuss how we can support you in your new business venture.

This blog is part of our series on start up businesses we will be running further articles on topics important to new business owners over the coming weeks.

Ian Lowry



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