There are several benefits of going with an accounting firm rather than an individual bookkeeper. Some of the most significant benefits are:
1. Wider range of services: Accounting firms usually offer a wider range of services than individual bookkeepers. These services can include financial planning, tax planning, audit and assurance services, and more. With an accounting firm, you can get all your financial needs met in one place, saving you time and money.
2. Greater expertise and experience: Accounting firms often have a team of professionals with specialized expertise and experience in different areas of accounting and finance. This means you can get more accurate and comprehensive advice on complex financial issues, as well as benefit from their knowledge of best practices and regulations.
3. Higher level of accountability: Accounting firms have a reputation to uphold and are usually more accountable for their work than individual bookkeepers. They are also more likely to have established quality control processes and procedures to ensure the accuracy and completeness of their work.
4. Better technology and resources: Accounting firms typically have access to better technology and resources than individual bookkeepers. This can include advanced accounting software, data analytics tools, and more, which can help you better manage your finances and make informed business decisions.
5. Scalability: As your business grows, an accounting firm can scale their services to meet your changing needs. They can also provide additional resources, such as financial analysts or tax specialists, to help you navigate complex financial issues as your business expands.
Overall, while an individual bookkeeper may be suitable for small businesses with basic accounting needs, larger or more complex businesses will often benefit from the expertise, resources, and accountability that comes with working with an accounting firm.