Bookkeeping is the heart of doing business. Because without a good accounting practice, your business may encounter various problems. Until the end of the scene that has it all On the other hand, if it is well managed in accounting, your business will not survive. Account analysis results may also help to cope with various leaks. And develop your business for the better as well
According to large businesses, bookkeepers are often hired. There are both permanent employees and employees who are already hired from independent accounting firms, but in many SMEs businesses in Thailand do not pay much attention to accounting as they should. Often focus on the creation of works Or new innovations that are more intangible In contrast to foreign SMEs, their focus is on concrete matters. Such as profit and loss estimates, etc., which implicitly cause Thai SMEs to lack credibility.
If you are a person running SMEs or any other business who is facing such problem and want to solve it. You just have to start from the preparation of accounts by hiring an accounting firm to help take care of it or prepare your own accounts. Both of which have different advantages and disadvantages.
If you choose to hire an accounting firm
If you choose to hire an office to do accounting The first advantage is time saving. Because your choice to own a business means that you have to be good at creating products. Or services to be more efficient than bookkeeping for sure Hence, hiring an accounting firm to handle accounting matters is very beneficial compared to the time spent on learning and doing accounting on your own. You also don’t have to go to a government agency like the Department of Business Development. And the taxation by themselves to be chaotic as well
The next advantage is that bookkeeping companies often update their tax information. Or various laws Including the procurement of new software that facilitates various types of bookkeeping to facilitate the accounting on a regular basis. So you don’t have to waste time looking for information Including learning to work with the software by yourself It also saves money on purchasing the software.
Another by-product from hiring an accounting firm is More work experience Because most people who come to open an accounting office Often a person who has worked as an officer Or accountants in various companies before Their long association with various accounts allows them to resolve immediate problems. They can also assist you in consulting and analyzing statistics specified in various accounts. That may be useful for you to solve problems and develop your business further.
But hiring a bookkeeper isn’t always going to have advantages. Because besides you have to pay for additional expenses You still cannot be sure how reliable your accounting office is. Because some smart accounting firms may use your unethical knowledge to generate additional benefits for themselves, for example, if they are not stolen to sell their competitors. You may be tricked, for example, to pay taxes in cash. Not allowed to be transferred to a bank account Or there is no receipt from the Revenue or Social Security back to you when the payment has been made, etc.
In addition, there are things that you may not have known before: Actually, the accounting firm is a virtual field for new graduates who want to gain experience. When they had gained enough knowledge and often left to set up their own office or affiliated with big companies that had to take on only one account. Because accounting firms often provide low wages, even though a single employee is responsible for many companies’ accounts. Therefore, although the office owner you hire has as much work experience as advertised. But how do you know that he is the bookkeeper for you yourself? And maybe your account will not be any different from the graduating kid’s yard tool. In addition, the appearance of the account in each year may not be the same because of the constant change of people doing. Finally, you have to go to the Revenue Department to deal with the problem of spontaneous mistakes.
If you choose to make an account yourself
If you read up to this point and you are discouraged by the problems that follow from hiring an accounting firm Another option you might consider is choosing to do an accounting yourself. Which if your business is not large And do not have multiple income streams Both of you have some accounting knowledge. You could also create your own accounting from a basic program like Excel, or you can learn a commercial bookkeeping program like Formula.
If you don’t count the bookkeeping as an exhilarating affair. Will be able to save quite a lot of budget for hiring an accounting company per year
The main advantages of the self-employed accounting are If you don’t count the bookkeeping as an exhilarating affair. You will be able to save quite a lot of budget for hiring accounting staff per year. You also do not have to waste time investigating the history of the office that is reliable or not as well. Most importantly, if you decide to do this for yourself, you will be protected. Various problems of dishonesty Because you will have the opportunity to examine the steps and processes yourself. Not screened or ingested by anyone Plus you can be sure that Secrets, especially accounting secrets in your company, will never leak to your competitors’ ears.
In addition to that, you are always taking the time to examine the entity’s accounts on your own. It also allows you, who is most likely to understand the nature of your business, be able to spot the flaws that lead to big problems before the public Or even an accountant who may be overlooked because they think it is not important (But you see it as possible) and allow you to timely improve it before the problem arises.
But to do the accounting manually Have disadvantages as well Because in addition to having to deal with various agencies by themselves, which is not as comfortable as hiring an accounting company If you don’t have previous knowledge, then you need to take the time to learn accounting. Rather than take the time to figure out how to develop a better product or service.
In addition, you can make an account. But if you don’t have an auditor license You just need to find an accounting office. In order to be checked and signed for later Which, unless you waste your time twice In the end, you have to pay the accounting firm for the examination anyway. It seems that it is difficult to waste less. Very easy to lose
Obviously, whether it’s hiring an accounting firm. Or choosing to do your own accounting is equally beneficial, but at the same time, the disadvantages of both methods are not to be ignored. So you need to choose, weigh the pros and cons and compare which one will be the best fit for your business.
