An accountant can help a small business owner manage all aspects of their financials including advice and support on accounting software, cash flow management, reporting, budgeting, tax services, BAS obligations, payroll and business planning.  There can be no grey areas when it comes to matters financial, so hiring an accountant gives small business owners peace-of-mind that this crucial area is getting the appropriate expert attention and focus.

Many people mistakenly believe that bookkeeping is another word for accounting.   Both are crucial business functions, but they are quite different.  Bookkeeping is more transactional and relates to the day-to-day recording and organisation of financial data, whereas accounting relates to how that data is interpreted.  Bookkeeping is an administrative task, whereas accounting offers insights, evaluations and analysis.

A good place to find a bookkeeper for your small business is on the Digital Mums Directory.

The cost of hiring an online accountant will vary depending on what type of engagement you’re after. Generally speaking, an online accountant will cost between $70 for simple tasks to $250 per hour for more complex financial tasks.  The cost of an online accountant will also depend on how complex your business is.  Their job is to understand your business finances and take care of them for you, so the more detailed your requirements, the more of their time you will need.

There’s no set rate that an accountant should charge.  Instead, you’ll find that an accountant’s rates depend on a number of factors including their own level of experience, the complexity of the job, how much time the task is likely to take and where they are located.  A ballpark figure for a small business accountant is likely to be somewhere between $75 and $200 per hour.   The best way to find out what an accountant charges is to search for an accountant who suits your type of business and then discuss your needs and their rates with them in person.

There are lots of ways an accountant can find new clients.  Word-of-mouth referrals are an excellent way of attracting new business, so it’s really worthwhile asking clients to post reviews on Google etc.  Networking on LinkedIn and at face-to-face networking events is helpful and there are opportunities to promote your business through online groups, Facebook, Instagram, listings on local business directories etc.  An accountant can also volunteer their services to a charity or local community group to build their reputation and expand their profile.