Let’s create a scenario using our fictitious company called Mike’s Mowing.
Mike started his lawn maintenance company by himself with one mower and has built it up to the stage where he has 10 full-time employees and is making enough to live comfortably.
Mike manages his Xero subscription himself – he pays all of his bills, raises all of his invoices for jobs, codes his bank accounts, files his GST, and prepares the weekly payroll. We asked Mike why he does this all himself and he told us there are two reasons.
Firstly, he doesn’t like using his accountant because he knows whenever he asks them for assistance, they turn the clock on and he can usually expect a hefty bill at month end. Based on the fear of cost, he tries to do as much as he can himself and only calls on his accountant when it’s a near emergency.
Secondly, he doesn’t think he can justify hiring someone to do his finances. He just isn’t big enough for it and he believes he can do the job himself. He has heard there are cheap and nasty bookkeepers out there but he has also heard of some horror stories from mistakes which have led to costly tax bills.
There are people like Mike all over New Zealand. The chances are if you’re reading this article, you might be in a similar position to Mike – doing too much yourself because your accountant is too expensive and you believe you’re too small to hire someone.
This is why Your Finance Team was founded. To answer the call of these small to medium sized businesses like yours who are missing out on the value in their financial information because they aren’t sure if it’s correct, and their accountant is too expensive.
We look to solve this problem through getting rid of dead time through finding better systems and processes for your business. This mean we can provide you with accurate and timely information on a consistent basis which is going to give the power back to you to make quality decisions in your business.
The result of this is people like you and Mike being able to focus on the work they enjoy doing, and continue moving the business in the direction you wanted it to go in before you got bogged down by paperwork.
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