Accounting – Do It Yourself or Hire an Accountant?
New and small companies often have a limited budget. The focus and the time available go to the core business. If you can only save money in any way possible, this is of course an advantage. This is precisely why people often count on business software that can complete many tasks quickly and cost-effectively. A good tool for contact and time management is easy to use and solves many problems. Seeking outside help and paying for it seems counterproductive at this point.
Then suddenly: Accounting. As we have discussed in the past, it cannot be avoided. It must also be done accurately and carefully to avoid any additional payments or legal problems. Yes, Atlanto’s accounting software is a great relief – but is it enough? Can you really do your accounting yourself or should you consult a fiduciary?
The answer to this question is not just “yes” or “no”. Instead, it varies from person to person and depends on various factors, such as their expertise, the complexity of the tasks and the time you can invest, among other factors. We present them to you in detail below and give you our recommendation at the end. This will help you make the right decision for your company.
Your Know-How
It all depends on how much you know about accounting. It is particularly easy to set up a small company in Switzerland. You do not need any special training or prior knowledge. However, little know-how requires all the more support.
So, you should honestly ask yourself how much you understand about accounting and how much you can do yourself with business software. After all, Atlanto is very easy to understand and even easier to use. In addition, our blog and the FAQ offer a lot of support to help you learn more about accounting. Nevertheless, you need a basic knowledge of accounting terminology and processes. Anyone who does not have this knowledge and is unable to acquire it should enlist the help of an accountant.
Tip: If you still want to try it on your own, sign up for our free accounting course. It teaches you the basics of Swiss accounting and how to prepare the annual financial statements.
How Complex Are The Tasks?
Also take note the specific tasks that you must complete. How complex are they? Simple matters you can certainly be deal with yourself.
Larger issues, on the other hand, should rather be handled by accountants. The annual financial statements, the chart of accounts and VAT are tasks that can be complicated and yet have to be completed very precisely. Professionals have more experience and overview in these matters. This means that such jobs can be completed more efficiently, more accurately and even more cost-effectively.
Of course, accounting software such as Atlanto can make the work much easier. Cooperation with accountants is nevertheless highly recommended.
Time
As important as accounting is, it still takes up a lot of time – more than you might want to devote to it. After all, your core business is something completely different and that is what you should focus on. Most of your time is supposed to go to your company, your main occupation, and the generation of revenue, which is the real goal of a business venture.
Therefore, ask yourself: “How much time do I have at my disposal for accounting? How long will it take me to understand it? And how long will it take?” It might be well worth seeking professional accountant’s help. Accountants can do the work for you quickly and efficiently.
Error Rate
The above questions are summarised in this next one: “How high will my error rate be?”
Accounting must be done very accurately. Even small errors can lead to high costs. The problem, however, is that some of these errors are only noticed much later. At this point, you really will need to call in an accountant and the effort and costs for the correction increase further.
If you are unsure that you can do your accounting without errors, professional support may be necessary. However, if you have more self-confidence, try it yourself.
Tips & Advice
One advantage of working with fiduciary professionals: Their experience can be very helpful to you. Their tips and tricks can save you a lot on your tax return. We also recommend that you consult with an accountant before making any major financial decisions. They may foresee consequences that are not immediately obvious. A brief consultation can do no harm.
Conclusion
There is no single answer. Every company and every entrepreneur is different. Nevertheless, Atlanto recommends at least an initial meeting with an accountant. The initial setup of your Atlanto is better with their support. A brief introduction to administration, and especially accounting, accompanied by professionals is definitely recommended. It would be particularly advantageous for new founders to consult accountants when setting up the company to ensure that everything is in order and that they are well prepared.
Even afterwards, it can be an advantage to see accountants as advisors. This allows you to do as much as possible yourself and seek help from accounting professionals if necessary. This model ensures a strong basis for your future accounting but allows you enough freedom to do everything yourself.
None of this is a problem, after all, working with accountants is not at all complicated thanks to Atlanto. All you need to do is invite them to your own company on Atlanto. You can then upload receipts to the inbox and have them posted by the accountant. If you prefer to do the accounting yourself, you are welcome to do so and then have the work corrected. The annual accounts should rather be done by a professional.
Find An Accountant
Some may be reluctant to hire accountant because they do not know where to find them. It is quite simple: With Atlanto’s list of accountants, you can find and contact accountants in your area.
Do you already have an accountant? No problem! Ask them to join the Atlanto accountant list. This will allow you to work together more efficiently and give them access to new customers.
