7 Benefits of Hiring a Freelance Accountant

Did you know that the average salary of an accountant in the US is $73,650? For more experienced accountants, the salary will be higher at $97,530.

Every business needs the services of an accountant, from financial reporting to tax filing. The cost of a full-time accountant on staff is too high for many companies. Hiring a freelance accountant allows you all of the benefits of an accountant while helping you manage your costs.

Are you debating on whether hiring a freelance accountant is right for your business? Look no further. Keep on reading for 7 amazing benefits to hiring an accountant.

1. High Quality of Work

When hiring an accountant, the first thing you are probably considering is the quality of their work. You need an accountant who can provide high-quality work at request with financial reporting and tax filing. Without needing constant supervision, they should be able to meet the demands of your business.

A freelance accountant can provide this high quality of work. You get to choose the person with the experience that matches your needs. You can work with them on a contract basis and get a real-time understanding of the quality of their work.

2. Save Money on Payroll Costs

When considering your accountant options, you are probably thinking about hiring a junior staff member or hiring an accounting firm. Both of these options can be expensive, especially if you are looking to work with an accountant with experience.

With full-time staff, salary is not your only concern. You need to think about payroll costs, including social security contributions, unemployment, sick leave, and vacation. With an accounting firm, you have to pay fees at much higher rates for senior partners that can add up.

When you hire a freelance accountant, you are hiring a consultant who invoices you for their services. Independent contractors are paid fees, so you don’t need to worry about the payroll costs associated with hiring employees. The independent contractor takes care of their own tax withholding obligations and pension needs.

3. Save Time and Resources

You are a busy company looking to grow and evolve. Your staff has many other responsibilities that take priority. Accounting should not be one of those priorities, especially when you have the services of a freelance accountant available.

With the free time, your staff can focus on their job without wasting time and resourcing. They don’t need to spend time training or getting up-to-date on new accounting processes. Hiring a freelance accountant allows you to focus on your business.

4. Save Time and Money on Hiring Employees

Hiring employees is not a simple process. It can cost you an average of $4,000 and takes 52 days. Companies spend about 46.7 hours to train employees, and it will cost you about $1,000 to train them.

That is a lot of time and money to dedicate to hiring the right person. Even with all of this effort, you can still end up with someone who doesn’t fit the culture of your company. Hiring a freelance accountant saves you time and money.

When you hire an accountant, you can look through a list of experienced candidates and find someone that fits your needs. You enter into a contract with the professional. You are not stuck with an employee, and if the work is not satisfactory, you have other options.

5. Get Help With Tax Filing

Taxes are one aspect of business that everyone is happy to avoid. But as a business, you want to make sure that your taxes are filed on time without delays. You also want someone with experience who can comment on your tax plan and offer financial advice.

A freelance accountant can help you manage your tax obligations. You don’t need to manage all the paperwork but can have peace of mind that someone with the right experience is handling your tax paperwork and meeting the right deadlines. A freelance accountant can also provide ad hoc tax advice as you need.

6. Flexibility in Communication

When dealing with financial reporting, you may have ongoing questions and concerns. You may have specific questions that relate to your particular industry, or you may have urgent inquiries that need to be addressed immediately. This is where a freelance accountant can be helpful.

A freelance accountant has different work schedules, often working late nights or weekends. They are business owners that are running their own businesses. As such, they understand and can cater to your needs by offering you the flexibility in the communication you are looking for.

7. Finding Someone With Relevant Experience

When looking for high-quality financial advice, you need an accountant with relevant experience in your industry and business. The goal is to find the right fit for your organization, which can be time-consuming and difficult unless you have a database of professionals to turn to. For example, with FreeUp, you get access to the top 1% of online freelancers with extensive experience, strong communication, and a great attitude.

At FreeUp, all freelance accountants submit an application that gathers information about the professional’s work history, skill sets, reliability, and past clients. This is followed by a one-on-one interview where their experience is assessed. Only the most qualified freelancers are allowed through the interview stage.

Hire an Experienced Freelance Accountant Today

Now you know all of the great benefits of hiring a freelance accountant. You can save money while getting experienced financial help that is flexible and available. Knowing your financial accountant options can help you make the right decision.

Complete your free account and start hiring today. You can post a job today and start meeting professional freelance accountants tomorrow. With our 24/7 hands-on support, you will have the right people backing you in your search.