Professional bookkeeping, accounting and tax service can transform the way you run your small, and growing business in Nigeria. While you are focused on expanding or adding more streams to your revenue channel, it is important for someone with the industry experience to keep an eye on all the cash inflow and outflow to ensure that transactions posted into your books of account are properly reconciled.
You may feel it is a task that you can manage by yourself, but you know what? There is the risk of being distracted if you had to deal with new product development, market expansion, customer services, or even the vision of the business.
Why You Should Hire a Bookkeeper and Accounting Service Firm.
Top of the reasons you should consider the service of a professional bookkeeper is that they are not emotionally attached to you or your business. This allows them to offer a completely unbiased and objective opinion based on your cash flow position, hence ensuring that you see the true picture of your business.
Another point is that your business is immune from unexpected shock arising from the exit of a major staff in your account and finance department. An external accounting service firm has an army of staff on board to ensure the continuity of your accounting systems and processes. I have seen a situation where the accounting department of a media firm was shut down because of the sudden resignation of a key internal account officer; no proper hand over of the books of account to other subordinates. I am sure you would not want this to happen to you.
If this happens, it can cause a major shakeup in operations with the possibility of financial impropriety, loss of records, and wrong decision making. But a bookkeeping service with formal relationship and agreement will ensure that an exit of one of the staff is immediately replaced with a more competent staff.
Bookkeepers have up to date, diverse experience in dealing with accounting and tax issues across multiple industries. If you get one, then stand a chance of benefiting from their wealth of knowledge if you find your business in any challenge, which can vary from industry to industry. This is unlike your internal staff who are only limited to your line of business.