Why You Should Hire a Freelance Small Business Accountant

Finance & Money Blog

As a business owner, you may think that having an accountant on payroll is a necessity. The truth is, having a small business accountant is vital, but you can opt to have one that is on contract rather than an in-house employee. If you are considering the option of taking on an accountant, you should consider hiring one as a freelancer or on contract. Here are some reasons this option may be ideal for you and your business.

Reduced Expenses

One of the leading reasons to consider hiring a freelance accountant for your small business is to reduce expenses. When you hire a freelancer or contractor, you avoid paying for certain aspects of their payroll. For example, you do not have to pay insurance benefits. This can be a huge savings for your company and can help keep healthcare costs within budget. You also do not have to pay for their supplies, their workspace, or their travel expenses. These are all items the contractor takes out of their pay and handles themselves. 

As Needed Staffer

As needed staffing is something you may not consider, but you may find is a key reason for you to use a contract accountant. You may have a need for a full-time accountant during the tax season and the beginning or end of the fiscal year. However, during the other times of the year, you may only need an accountant once per week to adjust your books and make sure that any sales or expenses are accounted for. By using a contractor, this as needed staffing becomes easier. When you have an in-house employed accountant, you may not be able to easily increase or decrease hours without running into labour rule or payroll issues. 

Ability to Fluctuate Scheduling

As previously mentioned, you have times of the year when you need more help than others. Having a freelancer means that you can fluctuate scheduling. You can discuss the scheduling with your freelance contractor to determine how many hours they can work per week and how many hours you need from them. This also benefits the accountant because they can take on multiple clients throughout the slower times of the year while concentrating on your business during busier times. 

If you think hiring a freelance small business accountant versus an in-house employee option, consider seeking out prospects on freelance sites. Many sites offer a bidding feature that allows you to find the highest quality freelancer for your money while staying in your businesses budget. Keep in mind, you will want to make sure they meet the qualifications and certifications you need for your state and for your business. This means checking their credentials carefully and taking the time to find the right freelancer for you.

For more information, contact a small business accountant in your area today.


10 November 2020

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