It’s probably going to take several caffeine injections to get through payroll, finish up quarterly reports, and meet with vendors. Scratch that – the coffee maker broke down this morning and you haven’t had time to call for repair. This is the typical hectic day of a busy small business owner. If you’re juggling many responsibilities to complete your daily operations, here are signs you may need an accountant to take the edge off.

4 Signals Your Office Needs an Accountant

1. Out-of-Control Finances

There are inconsistencies and unknowns each time you peruse your financial reports. You can’t pinpoint why profits are stagnant but orders are up. An experienced accountant will sift through the numbers to find the answer. They’ll parse your data multiple times to identify red flags and come up with attainable solutions to get your company’s financials back on track.

2. Complicated Tax Filings 

As your business grows, so too will the complexity of your tax returns. You may no longer have the time or energy to do them, but you don’t want to risk the wrath of IRS audits and penalties for inaccurate calculations and omissions. Not only will an accountant prepare your return with precision, they specialize in spotting money-saving deductions that could reduce or even eliminate any tax liabilities. In addition to staying current on the latest federal and state tax code changes, you can also count on them to provide tax planning guidance designed to benefit your business going forward.

3. Payroll Neglect

Ensuring employees and vendors are paid on time and accurately should be among the top priorities of small business owner. Unfortunately, sometimes payroll processing falls by the wayside. If paychecks are late, morale will drop and production will slow. Accountants use the latest software for payroll service to pay salaried and hourly employees, calculate taxes, track paid time off and vacation days, and monitor retirement and insurance deductions.

4. Growth Mismanagement

When a business expands, the change can be bittersweet: sweet because sales and profits are up, yet bitter because keeping up with the adjustment can negatively affect operations. Hiring an accountant is a smart move for managing growth. From upping staff to opening more branches, a long-term strategic planning professional will take a thorough look at your operations to determine which strategies are best for handling expansion.

You put in the hours, money, sweat, and tears to start and build your business. Help ensure its success by partnering with a licensed accountant. Banyan Accounting dba as Happy Tax in Kailua, HI, is the trusted firm entrepreneurs continue to call on for expertise. This locally owned outfit has experience serving many industries. As a general ledger specialist, they provide full-cycle accounting from start to finish. Owner Tricia Drago is Quickbooks® Pro Advanced Certified. To learn more about how the firm will help your business, call (808) 200-1040. Visit the website for information on their complete array of services.