Consider hiring an accountant when your business decisions, tax responsibilities or workload need more expertise than you can comfortably provide.

That point can arrive before the business opens, during a period of growth or when the numbers become harder to understand. There is no single turnover figure that tells every business when to get help.

You can engage an external accountant for particular tasks or an agreed level of ongoing support.

Before you start or make a major change

Early advice can help you make informed choices about business structure, record keeping and tax responsibilities. We recommend getting professional advice as you are starting your business so you get it right from the start.

This is particularly useful if you are buying an existing business, bringing in a business partner or considering moving from operating as a sole trader to a company.

An accountant can explain the financial and tax implications of the options. A lawyer may also be needed for contracts, ownership arrangements and other legal matters.

Seek advice before signing agreements or committing significant money, while you still have choices.

When your tax responsibilities become more complex

A business that once had a handful of invoices can quickly have several moving parts.

You might be approaching GST registration, employing staff, buying substantial assets or earning income through a new activity. Check that your systems and processes can handle these changes.

Your first year in business is not automatically tax free. If you are unsure what to set aside or when payments will fall due, an accountant or tax professional can help you plan.

The aim is to understand your responsibilities in time to manage them. Waiting until a return is due leaves less room to resolve missing records or unexpected issues.

When the work is taking too much of your time

Consider the time spent checking figures, researching tax questions and correcting transactions.

Some of those tasks may be better handled by a bookkeeper. Others need accounting or tax expertise.

For example, a business owner who loses several evenings a month sorting receipts may need regular bookkeeping first. An owner who has tidy records but is unsure how to account for a major purchase may need an accountant.

Compare the proposed fee with the time involved, the complexity of the work and the decisions that depend on it.

When you need stronger information for a decision

It can be difficult to judge whether you can afford another employee, larger premises or new equipment by looking at your bank balance.

An accountant can help you understand your financial position and the implications of a proposed change. Depending on their services, they may also prepare budgets, forecasts or management reports.

For example, buying another work vehicle may seem affordable based on the monthly repayment. An accountant can help you consider the deposit, running costs and effect on cash flow.

Ask specifically for help with the decision. Annual accounts alone may not answer a question about the next three months. A forward thinking accountant can help you here.

Match the support to the business

The right arrangement depends on what you need and how often you need it.

An annual engagement might cover agreed year-end accounts and tax work. Quarterly reviews can provide opportunities to discuss performance and upcoming obligations. Monthly reporting may be useful where activity changes quickly or regular decisions depend on current figures.

None of these arrangements automatically includes every service. Ask what is covered, what costs extra and who handles routine bookkeeping, GST and payroll.

Also agree how questions are answered during the year. A clear scope helps everyone understand what they are responsible for.

Make the first conversation useful

Bring your recent financial reports if available, access to your accounting records, details of loans and major assets, and a list of the issues you want to discuss.

Ask about experience with businesses like yours, the proposed fees and how they will explain your figures. You should be able to ask questions and understand the answers.

You do not have to wait until the business is bigger to seek support. A useful first step is identifying what you can manage confidently and where you need help.

At Beyond Your Numbers, accounting is provided within an ongoing support package, alongside business advice. Contact us to discuss the accounting and advice your business needs as it grows