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The question of how to handle accounting is among the most important questions your business can ever answer. This holds true for every industry and every type of business. Getting your books and numbers in order is a key to both immediate and long-term success — and when the accounting situation is not being taken care of in a professional way, things get complicated and problematic in a hurry.

The traditional solution to this problem is a full-time in-house accountant, at least for businesses who can justify the cost. Small businesses often resort to keeping their own books, which ends up taking a lot of time and energy. After all, there’s a reason why professional accounts spend years in training, learning to how accurately how to perform all of the essential accounting functions required for the sound operation of a business.

You might have a small business, or a medium-sized operation, and be wondering which approach you should take. Hiring a full-time accountant may be a financial stretch — and do you really have enough work to keep such a professional busy? On the other hand, learning how to do the accounting yourself — and spending a significant portion of the day attempting these duties — can be a drag on your business. It can take your focus away from other aspects of the business, and bring a whole lot of frustration into the picture.

The question of whether to hire a permanent accountant, for many businesses, is fairly easy to answer. The operation just isn’t large or complicated enough to justify a full-time salary, so they resolve to handle the accounting themselves — despite the inconveniences of doing so.

What’s the alternative?

Many business owners aren’t really aware that a sensible alternative exists. By hiring an accounting consultant to handle the numbers and accounting for your business, you bypass the problem of having to choose between a full-time accountant and doing the work yourself.

Some of the tasks that you’d be able to outsource to a professional contractor in your area include: Accounting, cash flow, budgeting analysis, and account reviews. When these tasks are performed to a high professional standard on an “as-needed” basis, small-to-medium sized businesses are able to achieve better accounting results without putting too much stress on the budget.

But who do you entrust with your bookkeeping and accounting needs? The word “professional” covers a wide spectrum in the accounting world, and you want to make sure you hire a company or individual with all the requisite training — plus years of experiencing helping businesses like yours with all facets of accounting and bookkeeping.

Another sign of a top-rate professional is the range of services they offer. If you’re dealing with a highly-trained accountant who offers Controller/CFO services, tax planning, and even helps with the formation and dissolution of businesses — well then, you’re probably dealing with someone who can handle your accounting needs while keeping the highest professional standards of integrity and accuracy. As a business owner, accounting doesn’t have to be a conundrum. Custom tailored solutions can perfectly meet your needs, but it’s important to make sure you hire the right professional.