However, especially at tax time, having an accounting professional take care of your finances takes SO much weight off of you, and frees up time to build your business. Another great aspect of having a professional, qualified accountant on your team is that you will feel like you have bought an insurance policy against faulty or ineffective financial management of your business. You will rest well knowing you have a pro handling things in the most effective and legally correct way.

If you are just starting out, an accountant can help guide you in decision making when your personal finances are tied to your business. He/She can also advise you on important aspects of setting up your business, such as whether to create an LLC or other type of corporation to take the most advantage of tax breaks and future financial issues.

If you are already in business, a professional accountant can handle all tax preparation, advise you on financial growth and investment, create financial reports for possible investors, budget planning, give advice on regulations and laws, write new business plans, and the list goes on. Having an accountant on board means you are freeing up your time and the time of your office people to work on other tasks that will grow your business evermore.

If you feel your business is not quite ready for a full-time accountant, it is very common for accountants to freelance and only work for their clients during the tax season or other busy periods the business encounters.

Or it could be that you are ready to actually create your own in-house accounting and financial team to enhance your business. If this is where you are in your small business journey, and you want to make sure you hire and retain the best people, download this free report from Robert Half, one of FORTUNE^® magazine's "World's Most Admired Companies." The report is called The People Puzzle: Building and Retaining a Talented Accounting and Finance Team. Robert Half and the American Institute of CPAs (AICPA) surveyed accounting and finance staff to learn what motivates them in the workplace. The survey results provide essential insights into what factors make employees want to build a career with a company.

The bottom line is that an accredited accounting expert--whether you hire a firm to handle your finances, a freelancer to do it part-time or even create your own in-house accounting team--will be able to manage your company's finances far more efficiently and profitably than you could ever do it yourself.

The post Who Handles the Accounting For Your Small Business? appeared first on MoneyThumb.

To help you cross those particular hurdles, today we would like to share some advice from financial gurus on handling the finances and accounting of your small business. We hope the following tips will help you get a better handle on the finances of your small business:

1. Focus on Meaning, Not Money

"We meet with entrepreneurs all the time and they tell us what they think we want to hear, that they want to make money. When we hear that, it's so depressing. It took me 20 years to come to this understanding, but the companies that are successful are the ones who create meaning. Create the next curve; don't improve on sameness."

-Guy Kawasaki, Chief Evangelist at Canva

2. Remember That Your Team Defines Your Business

"Investors put their money in people, not a business. The better the team you have, the more money you will be able to attract. Get people on your team that have industry expertise and that have been there before. Investors want track records."

-Barry Moltz, author of Bounce! and How to Get Unstuck

3. Prioritize Proper Accounting Methods

"Every business owner wants to run a profitable business, but few entrepreneurs dedicate enough time to measuring actual results. The only way to do this is to have a dedicated accounting function. Just as sales can't happen without paying attention to prospects, good financial decisions cannot happen without paying attention to the numbers. It might seem like you can "get along" without accurate accounting during the good times, but it is impossible to navigate lean months without clear financial records."

-David Worrell, author of The Entrepreneur's Guide to Financial Statements

4. Hire Professionals (It's Worth the Cost)

Small business owners aren't expected to be an expert in the finance, accounting, and legal side of the business, which is why there are professionals like accountants, bankers, and lawyers out there. Money spent wisely on a good CPA or lawyer will be returned in multiples of extra profit.

-Ken LaRoe, Founder and CEO of First Green Bank

5. Know When to Say No

"Don't be afraid to say no to projects. Prove that you're serious about specialization by turning down work that falls outside your area of expertise. The more people you say no to, the more referrals you'll get to people who need your product or service."

-John Warrillow, author of Built to Sell

The Rules of Thumb blog from MoneyThumb hopes the above tips from financial gurus will help you with the finances and accounting for your small business. Another way to make your small business stand perform at its optimum level is by using the best PDF financial file converters on the market. Quickly and seamlessly convert bank statements using these tools from MoneyThumb.

The post 5 Tips on Small Business Finance from the Gurus appeared first on MoneyThumb.