Do you have several systems running in your company to cover different business processes? If your company is like most high-growth businesses, you may have different systems for your payroll, customer support, and inventory management. You may also be using a stand-alone small business accounting software.

Starting an accounting firm is a task easier said than done. The risks associated with stepping out of your cozy accounting firm and setting up your own independent shop are high, considering that you’ll be using your hard-earned money to start your firm. While the move may seem frightening, the trade-off will be surely worth it. To help you turn your dream accounting business into reality, here are five pieces of advice in starting an accounting business.

In 2015, the Australian government tagged small businesses as the “engine room of the Australian economy” – they drive economic growth. As reported by the Xero blog, small businesses constitute 97% of all the businesses in Australia. Such a staggering figure presents a good opportunity for your firm to provide small business accounting services.

   As your business grows, unforeseen challenges that you have hardly prepared for will crop up. For instance, if you have been spending more hours on production and you need to find time to improve your marketing strategy, it’s only logical to outsource your campaign to a marketing agency.

Financial internal audits can be intimidating to business owners and finance executives alike. However, both should understand that internal audits are not something to fret, especially when your company comes in prepared.

  No one else dread the words “month end” more than accountants do. It is the season of rushing deadlines, payroll processing, closing books, and finalizing reports, all packed in a few days. Even though the same thing happens every month, some professionals just learned to live with it, without doing something to make their month end closing process in accounting more efficient.