Part-time accountants aren’t easy to find. You need to find someone who can work the small number of hours you need, be reliable, be a quick learner, have the right level of education and understand entire gamut of accounting and finance function. Most of the individual does not understand entire cycle of finance and accounts (F&A). Each individual function of F&A is specialized job whether, account payable, revenue recognition, AR, withholding of taxes, GST/VAT, Labour compliances, secretarial compliances, payroll processing, financial reporting and many more…..
As your business continues to grow, the hours may need to increase. The complexity of the work may increase. These are all changes in your needs that may no longer fit the part-time accountant’s abilities.
On top of the business’s changing needs, it’s quite common for people looking for part-time work to have restrictive schedules that may impact their ability to step up when your business needs it or suddenly need full-time work and take a job giving you little or no notice. Is two-weeks’ notice ever enough time to find a solid replacement and get them up to speed?
COMMON ISSUES WITH PART TIME CONTRACTOR
DO NOT TURN UP – this is the most common pain point. The contractor just stopped showing up and never even called the owner to say they’re not coming in.
Can’t Keep Up – the limited number of hours make it challenging to stay caught up on the daily tasks and providing timely monthly financials. The business owner is flying blind as they have not seen a set of financials for many months.
Surpass – the business owner isn’t really getting any insight out of their numbers. They know accountants should be able to provide guidance and their bookkeeper isn’t able to. In order to continue growing, a higher level of capability is needed to start budgeting, ensure the financials are full-accrual, and measure the right performance metrics.
There are obviously exceptions to the norm. The question is: Do you want to have to spend the time and energy continually replacing part-time help? Will you be able to identify a qualified accountant that can help you grow?
We provide qualified, reliable and scalable solution to growing businesses so they can successfully navigate from $100k - $10 million in revenue.