Is it worth hiring an accountant?

Discussion in 'Accounting and Taxes' started by Nancy, Mar 23, 2018.

  1. Nancy

    Nancy
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    Hi there my name is Isabel, and I just thought I’d introduce myself quickly! If I’m honest I’m really quite new to this whole forum thing, but a couple of friends use them a lot and praise how great the community and business advice is! So I figured I’d just give it a go as I’m a contractor and it’s always great to have a support team behind you when you move around jobs a lot! If I’m honest I’ve got a whole host of questions I’d love advice for aha, but I suppose I better start off with just the one! Essentially a few of my fellow ‘contractor’ friends have been starting to use an accountant to manage their finances, because they worked out they weren’t getting the most out of their pay or something. I was just wondering really if other contractors or consultants used any contractor accountants? I’ve been thinking about hiring one, but if I’m honest I didn’t want to get one if it wasn’t worth it. Does anyone have any experience with one? If so I’d love to know people’s opinions and thoughts. My friend sent me over a link to the contractor accountants called 3 Wise Bears that he uses - do these services sound like the sort of thing that other people have has experience with? They do sound good and it has made me deeply consider investing in an accountant but I just wanted a few other people’s opinions first! Thank you everyone! And sorry if I’ve rambled - I’m not entirely sure how long these posts are supposed to be so sorry if I’ve gone on a bit!
     
    #1 Nancy, Mar 23, 2018
    Last edited by a moderator: Mar 23, 2018
  2. Ali Imam

    Ali Imam
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    Hi Isabel, Welcome to the forum.
    Let me tell you a little bit about myself: I am working with a financial services company located in Bangalore, India.
    Now coming to your question, Yes Its always better to hire a professional rather than doing these by yourself as accounting work has some legal aspect, and they know way more than any of us that's why they are called accountants.

    The Important thing is who to hire, as you don't have expertise in accounting and would be very difficult to oversee the work done by them. So, it's better to outsource your company account to some accounting firm. You can also get their employee (who's working on your account) to come to your office and do the work from there.
    Hope I was able to answer your question properly, and all the best.
     
  3. PatrickT

    PatrickT
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    There is a new thing called The Gig Economy. It's actually really cool. You can go on a site like Upwork and outsource tasks to accountants. You are going to pay half the cost of a formal CPA firm. However, you need to select individuals carefully, as you often need to provide a fair amount of financial information to this individual. The best way to vet them is to see their past experience rating on the site and to set up a phone call or a skype call with them.
     

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