Are you curious about when the right time is to bring in a CPA firm in Aurora when you run a small business? While many small business owners only look for an accountant when it’s time to file taxes, accountants can offer many other types of expertise. These professionals can analyze data about your finances, create reports about what they find, and make recommendations to help your business continue growing.
If you run a business, have access to accounting software, and know a bit about tax law, you may be able to run your business without an accountant for a while. However, once you start expanding, having someone dedicated to your taxes and financials will become more critical. Below are some of the signs that you should start working with a CPA firm in Aurora.
Bookkeeping Takes Up Too Much Time
Sometimes managing your bookkeeping when you start out is relatively simple, but as you grow, things might get a bit more complicated. If you are spending hours out of your week on bookkeeping, it might be a good time to start considering bringing in an accountant. The less time you spend on essential business processes, the less money you’re going to make.
Your Business Has Experienced Lots of Growth
All small business owners want to enjoy the kind of success that creates rapid growth, but that kind of growth also leads to new challenges in the form of extra demand. When you have extra growth, you may need extra staff, more inventory, and expanded processes and systems. This also leads to additional paperwork and financial information, so a CPA firm in Aurora can assist you.
Professional Financial Reporting is Needed
If you’re to the point of needing investors or loans, this is another situation where an accountant can help. This is important since your financial history is a large part of your investor proposal or loan application. You want to ensure all your paperwork is professional and includes all relevant information. A CPA firm in Aurora can look through all of this information and be sure you aren’t missing anything.
The Business Will Be Expanding Across States
You may already have an understanding of the tax laws where you do business now, but when moving to a new state, things are bound to be different. Each state has its own set of rules and regulations that you need to be aware of. Whether you are expanding into a new state, hiring people from out of state, or distributing to a new area, a CPA firm in Aurora can get you set up and ready to go.
At Venture CPAs, we offer the accounting services you need in Aurora, Denver, and other areas of Colorado. We offer advising and consulting services in addition to simple bookkeeping and taxes. If you’re a small business that needs help with numbers, get in touch!