Do you really need to hire a full-time accountant if you are small or medium-sized business owner? Here we look at the benefits of hiring a freelance accountant.
5 Benefits of Hiring Freelancers For Your Accounting Needs.
When you start a new business, you are actually doing it for the love of doing the business and not for all the paperwork that comes with it. Nonetheless, accounting and business are inseparable. Keeping trail of the money is vital for the financial health of the business and to properly file tax returns and avoid legal troubles. But more often than not, your business does not require a full-time in-house tax accountant. In such cases, hiring a freelancer is the best bet for you. These are the benefits of hiring freelance accountants.
Ensure the quality of the work
Freelancers on a platform focused on accounting have access to other accountants who can check and verify their work. Also, because of the very nature of freelancing, they strive to deliver their best to keep their clients coming back. They also usually have fewer clients than traditional accounting firms allowing them to focus more on your work.
Freelancers are ideal for short term projects that require quick turnarounds
Accounting needs of your business is not always constant. Sometimes there is a lot of work to be completed in a matter of a few weeks. Like during the beginning and the end of your company\’s financial year. Otherwise, it\’s mostly just regular bookkeeping. Hiring freelancers help you to scale up or down your workforce, depending on your needs.
You don\’t have to worry about hiring, training, and managing the staff
The cost of hiring a full-time employee is not only about the salary and other employee benefits you as an employer have to pay. You also have to allocate resources to hiring and training them in the first place. If this can pass as only a one-time cost, managing the staff is something you have to deal with in the long run. Hiring a freelancer means you don\’t have to worry about any of these and focus more on your business.
Access to highly qualified and experienced accountants
Hiring an employee is an extensive and time-consuming process. And even after that, there is no guarantee that you will get a qualified one. After you hire someone, you cannot lay off that person just as easily. As a platform that focuses solely on the accounting vertical, Duminex Stars takes good care to hire only qualified accountants. The added ben efit is that if you are not satisfied working with one of the freelancers on the platform, you can quickly choose someone else without any commitment.
The most important benefit of a freelancer is the cost efficiency
Getting your accounting work done by a freelancer can reduce your expenses to a great extent. Cost of hiring a freelance accountant is way less than having permanent accounting staff or an accounting firm. Freelancers usually charge an hourly fee depending on the work. Furthermore, you save the expense of employee benefits like leave salary, insurance, etc. Working with freelancers also helps you to keep the employee headcount of your company low.
Considering all the benefits of hiring freelance accountants, it\’s the most logical thing to do for small business accounting. Add to it that SMEs are more prone to accounting fraud due to their lack of access to qualified accountants.
Duminex Stars go through a large pool of accountants and make sure to hire only the most qualified of them. They have many freelancers working under them and if you are not satisfied with the work of one of them you can ask for a replacement. And because you are working with a company as an intermediary, this ensures there are accountants to work around the clock and unavailability of one person doesn\’t stop your work from getting delivered. Your accounting reports have a guaranteed turnaround time, based on the work and a hundred percent compliance.