Running a small business is a lot of work. Since outsourcing various tasks can cost a lot of money, it’s common for entrepreneurs to attempt to do everything themselves. While handling certain operations in-house can protect the company’s bottom line in its infancy, there are some professionals worth retaining from day one, and an accountant is one of them. Here are three reasons to hire a CPA when embarking on a new business venture.

3 Reasons Your Small Business Needs an Accountant

1. Get Started on the Right Foot

Hiring a CPA before you open can mitigate several issues once you’re operational. Your accountant will determine the right business structure, select payroll software to comply with government regulations, and separate personal and company expenses.

2. Maintain Accurate Books

Once you’re up and running, you’ll have to maintain an efficient bookkeeping system. A CPA will help you establish in-house procedures. They’ll also handle tasks you want to outsource, like processing payroll or filing taxes.

3. Facilitate Growth

Once your company starts earning a profit, it’ll be time to think about growth. An accountant will determine the best use of available funds so that the business grows at an ambitious but manageable rate. As operations become more complicated, a CPA will advise you on how to manage inventory, handle cash flow, upgrade equipment, and price products or services.

If you’re looking for a certified public accountant to manage your business’ finances, turn to Wilfred E. Bucher, CPA, in Honolulu, HI. For over 40 years, Bucher and his team have helped clients of all sizes in almost every industry, including retail, nonprofit, and agriculture. They provide Oahu business owners with payroll, tax, Quickbooks®, and advisory services. Learn more about how they help small businesses online, or call (808) 528-4146 to schedule an appointment.