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When should I have an accountant?

An accountant is a person who prepares the accounts of a company. It can not be said unequivocally when you should have an accountant, but you can read about some of the situations where it makes sense here. If you need to hire an accountant, you can also easily make a collaboration agreement with Legal Desk.

What is an Accountant?

An accountant is someone who is employed by a company to keep track of the finances. The bookkeeper’s primary tasks are to prepare accounts and be responsible for the daily financial operation of the company, including reconciliations, postings, plant files, etc.

When your company needs to hire an accountant, it is a really good idea to draw up a collaboration agreement that sets out the terms of the collaboration. 

The difference between an accountant and an accountant

What characterizes an accountant is that an accountant has generally taken a shorter education than an office or finance student. However, an accountant has taken a longer higher education as either a registered accountant or a state-authorized public accountant. In contrast to the tasks of the accountant, which are described above, the auditor’s task is to audit the accounts and advise the company.

When should I have an accountant?

Whether you need an accountant depends on the specific circumstances. All companies must keep accounts, whether they have a real turnover or not – this means that everyone can in principle use an accountant to prepare their accounts.

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However, you can also be responsible for the Bookkeeping Services Toronto of the company’s activities, as there is no requirement for you to hire an accountant. Here we recommend that you use a digital tool such as economic, so you do not have to keep track of a lot of physical documents and receipts.

When is it a good idea to hire an accountant?

In some cases, it would make sense to hire an accountant, rather than having to do all the work yourself. This may apply, for example, if you have just started your business and are not familiar with the requirements for proper bookkeeping. It may also be that you have had the business for a long time, but feel the bookkeeping requires too much of your time and would rather utilize your skills in other areas.

The latter can be especially true in larger companies, where the turnover is high and the bookkeeping is therefore also very time-consuming. 

What is proper bookkeeping?

Proper bookkeeping is when the bookkeeping performed meets the legal requirements for this. According to the law, there are no requirements as to which method the individual must use in connection with the bookkeeping. However, there are certain requirements for the bookkeeping itself, including that an appendix is ​​only correctly booked when it has been numbered and archived for at least 5 years. 

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What happens if I do not post?

If you do not register and systematize your company’s financial activities by posting, you can receive a fine from SKAT if your accounts are drawn for control. In serious repeated cases, a missing or incomplete account can lead to the closure of the company. It is therefore incredibly important that you book or hire someone to do the work yourself, and that everything is done correctly. 

 

In addition to avoiding fines, bookkeeping is also a good way to organize the company’s finances. This is because bookkeeping provides an ongoing overview of the company’s activities and financial situation, which is an important insight to have for a trader.

 

Easily create collaboration agreement for accountants with the Legal Desk

If your company needs an accountant, you can use the Legal Desk to draw up a collaboration agreement. Simply fill out our form, after which your document will be instantly generated based on your wishes. Then you just need to sign the agreement individually with NemID, after which it is valid.

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