When starting a business, the best time to bring aboard an accountant is right at the very beginning, as they have a wealth of experience and can help to set up the company in the right way. The areas that an accountant can help the entrepreneur are as follows:
- Business Formation – The accountant can advise on whether a limited company, a partnership or a sole trader is the best way to form the business. Talking to chartered accountants in Rotherham at the very outset will ensure your business heads in the right direction.
- Registering with Relevant Authorities – You might need to be VAT registered, or become affiliated with specific federations.
- Helping with IT resources – The accountant can assist with recommending web hosting companies and website developers, both of which you will need.
- Advising on How Best to Set Up Bookkeeping –The accountant can put a routine into place that will allow you to efficiently record business transactions. This will make it much easier for the accountant when it comes to filing your tax return.
- Preparing Reports and Advising on Taxation – The accountant has a wealth of experience in helping small businesses in many industries to structure the business correctly.
If you are still planning your start up, now is the perfect time to enlist the help of a local chartered accountant, who can offer a lot of assistance. You should regard your accountant as a key member of your team who will ensure that your bookkeeping starts out on the right foot.