Leveraging Your CPA Firm to Provide Your Business with a Competitive Edge

By Analytix Editorial Team

July 20, 2017 0 Comments
Leveraging CPA Firm

You possess the expertise and the know-how required to meet your clients’ expectations. You also recognize the importance of timeliness to your client.

However, what about the growth of your own business in the meantime? Focusing on client needs often means that you put aside the needs of your own business.

Going about daily operations and servicing your clients allows you with little time to focus on the following:

  • Keeping back-end operations running smoothly
  • Retaining existing clients
  • Bringing in more paying clients or new business
  • Securing high quality leads to help bring in new business
  • Ensuring your business financials are in shape
  • Ensuring business continuity
  • Keeping your own expenses within the budget

Often, for small businesses or startups, these challenges are interconnected. A tight budget can affect business investment in resources; lack of adequate resources may lead to the inability to meet clients’ complete needs, in turn affecting client retention.

If we begin with the budget, even if you are a professional CPA, you may not have the necessary bandwidth to devote time to your business’s financials or to draw up a realistic budget.

This can be compounded by the demands on your own time as a business owner, where you need to meet client requirements first and foremost. How then do you ensure your business financials remain in top form? Consider outsourcing the related functions to a CPA firm or other accounting related service company.

Why You Should Consider Outsourcing Help From a CPA Firm to Help Your Business

A professional CPA firm immediately brings the following benefits to your business:

  • Taking over the essential but time-consuming task of bookkeeping; ensuring diligence in your business’s accounting.
  • Ensuring that the numbers are in order; the financial health of your business depends on how well all transactions are recorded and maintained.
  • Helping you do taxes; understanding tax liabilities for your business type and helping you meet them without paying excess tax. A CPA firm can also help determine the right tax category your business falls under, thus preventing payment of excess tax.
  • Ensuring your books and accounts are in order for critical financial assistance, such as a loan. Other business decisions such as investments or expansion, etc. also require your finances and tax work in order.

As a business owner, you would need to devote a huge amount of your time to each of these, should you decide to manage them yourself. This will then eat into the time needed for activities such as business building.

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