Why hiring an accountant can keep your fitness business running smoothly during the summer.

School holidays can be tough on small business owners. Balancing work and holidays can be tricky, especially when you want to take some time off with your family. You want to keep your business running smoothly while getting some time out.

 That's where hiring an accountant comes in. As a small business owner, you might think you can’t afford to outsource bookkeeping and accountancy tasks, but an accountancy practice like Koyn Accountancy can save you time, money, and stress. Here’s how. 

A great accountant helps you stay on track with your finances.

Regular bookkeeping is essential, even if you consider yourself a small business. Your bookkeeping is the foundation for monitoring your sales, expenses, profits, cash flow, and progress against your goals. It should never be neglected.

Hiring an accountant during the holidays means you can keep track of your finances while you're gone. We can record and reconcile transactions, process invoices and payments and handle payroll for you. We can also identify potential bottlenecks in cash flow and spending patterns to help you adjust your budget accordingly. Additionally, we can also help you prepare financial statements and tax returns, saving you from returning to work knowing you have to turn around a VAT return quickly. 

 A great accountant provides valuable business advice.

We are also business owners and are a great confidant for discussing your business goals and challenges. We can help you identify areas where you can save money and make suggestions for increasing sales. As well as helping you identify potential problems in your cash flow. It’s hard to delegate when you want to know everything about your business, but imagine the peace of mind of having a finance expert’s eyes on your business while you’re taking a holiday.

A great accountant helps you prioritise your workload.

During the holidays, there's always a temptation to either do nothing or keep working and not spend time with your family. You didn’t start your business so you could become an accountant, so engaging one to handle your financial tasks can help you prioritise your workload so you can do what you need to do and enjoy time with your family. 

A great accountant saves you time and money.

It’s hard to think that hiring an additional person into your team will save you money but bear with me. Engaging with an accountant to handle tasks that aren’t your specialist area will save you time and money, and here’s how. Not doing these tasks yourself will free you up for the work you’re really meant to do in your business - where there’s a much better return on your time investment. Compare hiring an accountant for £150 per month with attracting 3 or 4 of your ideal clients yourself, generating £600 per month. Are you better off forgoing the £150 and spending your time bookkeeping, or earning an extra £450 in your business this month? 

 If you took half of that time, you would have been doing the bookkeeping off as a holiday instead. You’d still be £225 better off this month - just by hiring an accountant. This is maths that makes sense. And we haven’t even mentioned the stress this will save you. Now add to this how an accountant can usually save you costly mistakes in your bookkeeping, and you’ll never question the value of a great accountant again. 

A great accountant gives you peace of mind.

Knowing that a qualified accountant manages your finances not just while you’re away but every day of your business gives you limitless peace of mind. You can always be confident that your business finances are up to date and in good hands, so you can run your business with the information you need to make good, timely decisions. 

Conclusion

Hiring an accountant isn’t just a good move for the summer holidays; it’s an excellent move for the life of your business. It allows you to focus on what you really need to do as a business owner and take a break while everything financial happens smoothly behind the scenes. You don't have to worry about falling behind in your financial tasks, and you can trust that a professional is managing your finances. By leveraging the expertise of an accountant, you can focus on spending quality time with your family and return to your business recharged and ready to tackle new challenges.

If you’d like to talk to me about how I work with fitness businesses like yours, book a discovery call using the link at the top of the page or email hello@koyn.uk