Whether to buy accounting services for the company or to hire an accountant depends in many aspects on the size of the company. From the point of view of a start-up company, ordering an accounting service is first and foremost an opportunity to keep expenses lower, because with a relatively small turnover, it is neither reasonable nor often possible to hire a separate specialist.
Accounting service and start-up company
Therefore, it is a good idea for a start-up company purchase the corresponding service, because the price of the provided service depends on the amount of work performed. Apparently, at least initially, there is little work for an accountant in every company, and choosing to outsource the service costs the company just as much as is optimal.
The price of the accounting service consists mainly of the selected base service package and additional services. The price of the basic services package directly depends on the entries to be made (invoices, receipts, etc.) and thus it is a smaller company also at a lower price. Many additional services also depend on the size of the company, because, for example, the costs of doing payroll are lower the fewer employees the company has on the payroll. However, there are other additional services that depend on the size of the company or the field of activity, such as operations related to the preparation of basic tools and documents.
Do you need to hire an accountant as your business grows?
Based on the above, accounting service is a logical and economically justified choice for a start-up company or small business. But what to do if the company is growing rapidly - whether to continue to buy in the service or to hire an accountant? Often, entrepreneurs continue to decide to hire a specialist because a person always present in the office seems a safer and more tangible option.
Although there is no really uniform rule here, hiring an accountant often includes costs and obligations that are not thought of at first glance – annual trainings to keep the accountant up to date with the latest laws, additional costs related to the vacation period (vacation pay, finding a replacement), etc. Such obligations can make the costs of hiring and training one level of specialist quite high in the long run.
But from us when you order an accounting service, these worries are unnecessary, because Grow accountants are always up to date with all changes, the service we offer also includes the experience of our entire company, and most importantly - unlike the vacations of a hired accountant, our service is always available! Contact us and together we will find a package of services with suitable indicators for your company!