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Posted by: Charles P Myrick CPA Posted on: May 03 2016 Posted in: small business, accounting services for small businesses

Why You Need a Small Business Accounting Service

Are you planning to hire a small business accounting service?

It is important that you find the right accounting firm - the one that will work with you to meet your company's individual needs. These services have a direct impact on the cash flow and profitability of your small business.

There are several things you need to keep in mind before you make the selection. 

Outsourcing vs. Employee

Some business owners assume that they need to put an accountant on payroll to receive the full benefit of accounting and financial management services, but there are many benefits to hiring an outside firm instead. When you are working with an accounting firm, they provide all of the accounting expertise that you need, and you don’t have to worry about the added costs associated with paying a full-time employee.

What Services are Available?

It is important to consider the financial services that your company needs in order to determine the best accountant to hire. Talk with firms that you are considering to make sure they provide all of the services you may require. The offerings should include the following:

  • Tax preparation Bookkeeping
  • Payroll management
  • Cash statements
  • AR/AP management
  • Financial statements
  • Handling the balance sheet
  • Expert advice to manage cash flow

Each business is different. As a small business owner, you can expect your accounting services to be customized to meet the individual needs of your company. A good accountant will offer solid financial advice throughout the year, instead of talking to you once a year when it comes time to do your taxes.

Download our Free Guide to Cashflow Management for Businesses


Checking Their Reputation

Make sure you understand the reputation of the company before you commit to their services. You can often find reviews online, or ask the company for information about the other types of clients that they have worked with in the past. It will be time well spent to make sure you hire the right company. 


Are you ready to outsource the financial management of your small business? Charles P Myrick CPA is recognized as one of Washington DC’s top accounting firms for small businesses. Contact us to find out how your accounting can be improved with our services. (202) 789-8898