Why We Need Accountants More than Ever
May 29, 2018
Everyone thinks they can do it themselves.
In a world where you’re a Google search away from knowing how to change your own oil, make great guacamole, and even find your soulmate, it’s no wonder why everything seems just that much easier to do.
But, like a Craigslist relationship, your expertise is only skin deep.
For small business owners, doing it yourself is usually the easiest, and always the cheapest option.. But, when it comes to your finances, you can’t afford to make mistakes.
That’s why accountants are more important than ever.
Here are just a few reasons why CPAs are our BFFs.
1. A Global Reach
Small businesses aren’t stuck at home anymore.
More often than not, what was once your local mom-and-pop-shop is now an international business, taking on markets that were inaccessible just 20 years ago.
While that means great things for maximizing profits and expanding customer diversity, it also complicates things a bit. Specifically, the numbers. With global expansion comes currency exchange, more suppliers, and new ways to pay and get paid.
It’s a job and a half to coordinate it all, let alone keep records.
While there are new programs released to help small businesses do it themselves, you may still find it challenging without a helping hand.
With a dedicated CPA or accounting firm, small business owners can leave the stress of global finances in trusted hands.
Sure, an accountant isn’t the only thing you need to go global. But, a knowledgeable CPA could be the key to optimizing operations, and taking your business up a notch.
2. It’s In the Details
The ability for business owners to do it all themselves can’t be understated.
Great services like QuickBooks, NetSuite, and Xero have enabled many around the world to take hold of their finances. It’s a huge step for those who can’t afford an entire accounting department.
But, it’s still worth investing in a CPA.
As much as you think you know about finance, accounting, or bookkeeping, an accountant knows more. Unless you’re an accountant disguised as a small business owner, someone can take care of your money better than you can.
Whether it’s calculating your taxes, sending payments, or receiving them, CPAs are the best in the business at making sure every cent is accounted for. Pun intended.
As well, that accounting software small business owners love? Accountants use it too. And, they use it better. Many software companies like Xero and NetSuite offer partnerships to frequent promoters and users of their services.
Most of these partnerships go to CPAs, who eventually become experts in the software, speaking at events and promoting the services that make their jobs that much easier.
Ease of use for CPAs means better service for you.
3. Experience is Everything
There are some things you just can’t teach.
Accountants are experts in your finances. It’s their job. A gut feeling, a past experience, or an inherent knowledge of how the whole process works will always outmatch is invaluable.
With great accounting software from Xero, QuickBooks, and Netsuite, CPAs can automate processes that used to take hours and hours. You might think that would make today’s accountant obsolete. But, in this case, reality is far from expectations.
Today’s CPAs have and continue to adapt. They’ve gone from spending hours calculating expenses, sending payments and recording transactions, to consulting, advising, and making sure clients understand and are prepared for where their business is going.
“With cloud services, it’s less about your billable hours and more about advisory services. We want to offer advice as just another business owner. We don’t just talk about our core services. We deal with all the same things from payroll to insurance. It really helps to know what they’re going through.”
Accountancy is alive and kicking, it just looks a little different.
Your friendly neighborhood CPA is also great at finding the perfect services to fit your small business needs. When it comes to sending international payments, many accountants choose Veem.
Veem is a global payments solution built for small businesses, and trusted by accountants.
Cost-effective payments, great FX, and real-time tracking allow small business owners to take on global markets without worrying about expensive wires.
Automated reconciliation, and easy integration with your accounting software makes Veem a no-brainer for accountants too.
Whether you’re a CPA or small business owner, try Veem today and say hello to next-level global payments.