With the avalanche of changes affecting the Irish taxation system — not least of all PAYE Modernisation — there has been a lot of talk about the advantages/disadvantages of accountancy outsourcing.
What are the advantages of outsourcing your business’s accountancy needs to a third party accountancy firm? What are the disadvantages? A persistent myth surrounding accountancy outsourcing is that a business ends up having less control over its financial reporting. It is also often stated that outsourcing ends up costing more. This ridiculous and frankly dangerous rumour can sometimes have a company seeking out software solutions in place of a trained accountant.
It may seem obvious, but having an individual with no accountancy experience oversee the financial health of a business is a recipe for disaster.
When you can’t trust your business’s internal financial reports, how can you possibly make informed business decisions? How can you be sure your tax obligations are being met?
Simply put a company cannot function without a professional accountant overseeing the books and ensuring that a business’s tax obligations are met.
Fines, financially uninformed business decisions and unprofessional internal reporting can cost a business thousands.
To revisit this issue of control. Many businesses still believe outsourcing their accountancy requirements to a third party, means they have less control over their books.
This is yet another rumour that isn’t based in truth.
Today we are going to discuss how hiring a tax accountant in Swords can mean a business retains complete control over their finances and ultimately saves money.
Accountancy Services Swords
The major advantage or our Swords accountancy firm is our location. For businesses all over Dublin, who are moving from an in-house accountancy model to an outsourced accountancy model, our locality can help make this transition as smooth as possible.
We encourage business owners to drop into our Swords accountancy firm and ask us any questions they may have. We pride ourselves on our customer service, and the accountant assigned to your business will always be available to discuss your finances or clarify any issues.
Full Control over your Business Finances
Outsourcing your accountancy needs doesn’t mean a loss of control. In fact, it just means you are streamlining your internal business operations, freeing up your time to concentrate on the aspects of your business that generate profit.
Despite the erroneously held view that hiring a third party accountancy firm limits a business’s control, the opposite is often true.
When a professional accountancy firm is overseeing a business’s accounts, the business owner has more accurate financial information. Allowing the owner to make more informed business decisions.
Tax accountant Swords
We offer our clients complete peace of mind. As specialist Irish tax accountants, we ensure that a business’s finances are tax compliant and that all necessary information is supplied to Revenue on time.
Our modern tax accountancy firm is set-up to comply with PAYE Modernisation and we can assist clients in ensuring their payroll system is set-up to compile with this new tax standard.
If you have any more questions on the advantages of outsourcing your accountancy requirements, visit our Dublin accountant page, or book a consultation with our swords accountants today.
