There are a lot of things to focus on when it comes to doing business. One of these things is keeping records. It is also an essential part of doing business. After all, as an entrepreneur, you are obliged to file a VAT return. Also, it is nice to have a good and reliable insight into your company’s financial position. By making an overview of turnover and costs, you know how much profit you generate or where the highest cost items are.
For financial reasons, many (small) entrepreneurs choose to keep their accounts. It is straightforward with a simple accounting package such as SnelStart. For example, read our explanation and tips for calculating and sending the VAT return with SnelStart. Yet, there are various reasons for outsourcing (partly) the administration to a bookkeeper or accountant. But, when do you need a bookkeeper or accountant?
The size of your company is growing.
The primary reason to hire a bookkeeper or accountant is to grow your business. According to the law, a company with more than 50 employees, a net turnover of more than 12 million euros, or a balance sheet total of more than 6 million euros is subject to an inspection obligation according to the law. It means that a public accountant must audit the company’s annual accounts. Accounting auditing is something the bookkeeper or accountant is specifically trained in. An accountant has the authority to state the reliability of your accounting. It is also necessary when, for example, the bank requires an auditor’s report.
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It turns out to be hard to determine whether or not a company is obliged to inspect in practice. A good accountant can figure this out for you. Incidentally, if your company is required to monitor, this does not mean that you have to outsource the entire administration. You can continue to do part yourself. For example, processing incoming and outgoing invoices in your administration, managing relations and articles, and the like. However, it would help if you had the audit of your accounting done by an accountant. Please note: an accountant does not have this authority!
Lack of time
In addition to growing your company, a lack of time can also be a reason to outsource your administration. For example, because your activities change or if you suddenly receive more orders. You can then choose to do the accounting no longer yourself but outsource it to an accountant or accountant.
The complexity of your accounting
No one administration is the same. The activities of your company often determine the complexity of your administration. For example, how much stock you have and must keep track of, whether you deliver products or services abroad and how many invoices you send or receive. One entrepreneur sends only a handful of invoices per month, while another sends and receives dozens of them every day. And an entrepreneur with a webshop will have to consistently keep track of his stock, while a self-employed person who often works abroad must pay close attention to the VAT levied.
Depending on the complexity of your and size of accounting (and your knowledge), you can choose to engage an accountant or accountant. She or he can assist you in organizing and keep your administration in order. A good accountant advises you on administrative matters and advises on financial, business and tax issues.
What can you do yourself?
Finally, it is good to consider what you can do yourself. Are you someone who faithfully keeps your books? Or are you unable to see where to start due to the maze of receipts and invoices? With a simple accounting package such as SnelStart, you can perform many administrative tasks yourself. Reading bank statements and automating stocks, for example, is very easy.
The degree to which the help of an accountant or accountant is desirable differs per entrepreneur. For example, some entrepreneurs largely arrange the bookkeeping themselves and mainly engage the accountant for sound advice, financial insight, and control of the declaration. Other entrepreneurs prefer to send and receive invoices themselves but have other administrative tasks, such as reading bank statements, carried out by an accountant.