Accounting for SMEs
has been complicated by new laws and regulatory plans in recent years. So much so that, currently, you have to be a true expert to do it; and, if you make mistakes, it can lead to tax penalties for the company. Consequently, it is important to delegate accounting management for SMEs to professional advisors.
The work of a tax, accounting and legal advisor is full of advantages. With his knowledge, he will guide you from the very
creation of the company,
in terms of the legal form that you should adopt.
And also, later, when developing the accounting itself; which, as you know, must be adjusted to the General Accounting Plan.
What does an accounting specialist for SMEs give you?
The professional in accounting for companies is no longer limited, as in the former, to making sums and entries in the accounting record books.
Now he is an expert who, in addition to knowing that subject, is up to date regarding the link between accounting and tax and labor issues.
He even knows the relationship between the financial health of the company and its own accounting.
His knowledge allows him to contribute ideas and points of view in making important decisions. In this sense, the qualification of advisor is very appropriate, instead of accountant.
The advantages of having an accounting, legal and tax advisor in your SME
Therefore, it is vital to have an advisor who is in charge of managing the accounting of a small and medium-sized company. Among the many advantages it brings you, we will cite the following.
1 – Advice to choose the right legal figure
For example, a single-person corporation is not the same as a cooperative society, since each has its legal and tax obligations.
An expert advisor will guide you on the way that is most advantageous for your company,before starting its journey.
2 – It will help you design a good business plan
For those who are not specialists in business management, putting on paper the ideas they have regarding the company they are going to create is not easy.
However, a professional advisor will help you develop a good plan, so that the investments you contemplate and the financing channels are realistic.
In this sense, it will also be a document that will be very useful to present to banks and other credit institutions.
3 – You will keep your company’s accounts up to date
We must not forget that all the operations of your company require an accounting record. Also of that task, sometimes very heavy and that gives rise to confusions, will be taken care of by the advisor.
In this way, your accounting will always be square to the euro cent.
4 – Provides professional advice on the situation of the SME
Precisely, thanks to the above, the professional in accounting for SMEs is always up to date with the situation of the company.
Therefore, it can guide you on the financial moment you are going through and on whether it is convenient for you to make an investment or increase its patrimonial value.
You should not forget that, as its name suggests, an advisor is responsible, precisely, for that: to advise.
5 – Manage the relationship with the Treasury and Social Security
Commercial, tax and labour legislation is huge and new rules are constantly appearing to amend them.
For this reason, the negotiations with organizations such as the Treasury or the Social Security are not always easy. This is also done by the advisor, who is always up to date with legal developments.
It will also ensure that tax assessments and payments of Social Security contributions are up to date.
In addition, the operations of the company, such as a business expansion, must be communicated to the corresponding institutions, something that not everyone knows, but that the advisory professionals know very well.
Likewise, in the case of a Tax or Labor inspection, it will represent you before the aforementioned bodies.
6 – Decision support
The task of running a company is not easy. Sometimes you have to make complex decisions. And, in them, the advisor can help you.
For example, when asking for a loan, it will explain your financial and credit situation, so that you can do the most convenient. Or, simply, to launch a new product, it will guide you on the most appropriate time, after analyzing the business situation itself.
7 – Advises on cost reduction
A good advisor will allow you to save expenses in your company. Based on the accounting of the SME, it will tell you in which items you can save money.
In addition, having an independent professional lowers the costs you would have to face if it were to hire an employee.
When doing accounting for SMEs, having a professional advisor gives you multiple advantages.
Among all the benefits mentioned, the most important is the peace of mind of knowing that your company complies with all legal regulations, is up to date with its obligations and, ultimately, is in good hands.
At AYCE Laborytax you have a team of accounting advisory specialists ready to help and guide you in making decisions for your company. Talk?