Your business in Charlotte has taken off to the point you hired an accountant because you needed more time to deal with customers and getting product out the door. It’s a sign that you’re on the road to good things and can pat yourself on the back for a job well done. But the paperwork still comes in as regular as clockwork and it’s not something that’s avoidable. Sure, you can rely on your Charlotte, NC business accountant to take care of most of the work, but she helps you best when you do your job, too. What it comes down to is yes, you need accounting software even if you have an accountant and here’s why.
Easy Financial Tracking
Money comes in and money goes out. You need to be aware of where, how much, and when at all times so you don’t overdraft your account. Ask yourself what’s going to be easier: finding a sheet of paper with information that may or may not be laid out in a neat and orderly way? Or clicking on an icon and getting the information laid out in an intuitive way and in seconds? Chances are good you’ll prefer the latter. You’ll also have an easier time budgeting, making sure payroll is covered, and keeping money aside for recurring liabilities. While you can do this on your own, software can generate quarterly reports, remit payroll taxes to the correct taxing bodies, and help you create a balance sheet quickly and easily.
You are going to need control over your finances as you operate your business, and you are the best person for the job. Eventually you may hand someone the job of entering the information, but you still need to be aware of the comings and goings of your money. Accounting software is the simplest way to keep an eye on things and saves you time when you need to review financial activity.
Software Doesn’t Eliminate the Need for an Accountant
You may not like the fact you have to spend money on software when you’re already spending money with a Charlotte, NC, business accountant, but the benefits far outweigh the cost of software. Software can’t handle complex issues that can arise while running a business. An accountant is trained to handle taxes, drawing up profit and loss statements, and helps you comply with state and local payroll tax laws. Software can help you with some of this, but it’s not always going to catch a complexity or situation that requires the help of a CPA to resolve. Accounting software, as wonderful as it is, can’t be trusted to catch everything. That’s why it’s better to use software for most needs and trust an accountant for the rest.
Convenience of Transferring Information
Your Charlotte, NC, business accountant needs to get financial information from the company on a regular schedule. Handing her a pile of disorganized paperwork is a surefire way to make life difficult for the both of you. She’ll wind up with more questions than answers and will spend more time contacting you to find out what goes where. Time is wasted, time that she could better spend looking at streamlined information that was created by accounting software.
Your accountant may prefer to use one or two types of accounting software for convenience. Make sure to learn which software suite is preferred to make the transfer of information as easy as possible. There’s nothing quite like being able to bring your accountant a USB drive holding a file of your financial information instead of reams of paperwork.
Using accounting software and working with an accountant is the best way to keep your business from running afoul of tax laws, your bank account in the black, and making good decisions that help you grow your business.