Why Your Small Business Needs a Year-Round Accountant, Not Just at Tax Time
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12 May 2025
Are you feeling overwhelmed by bookkeeping, taxes, or just trying to make sense of your numbers? A lot of small business owners start out thinking they can handle everything themselves, spreadsheets, tax returns, payroll, HST filings, and more. But as the business grows, so do the responsibilities. That’s usually when it hits: this is too much to manage alone.
The real issue is that many business owners wait until tax season or, worse, until something goes wrong with the CRA to start looking for help. By then, it’s often too late to fix mistakes without added stress or extra costs. Let’s break down why small businesses need an accountant all year round, not just in April.
Why So Many Business Owners Delay Getting Accounting Help
It’s understandable. If you're just starting out or managing a lean operation, you might think:- “Do I need an accountant for my small business, really?”
- “Can’t I just use QuickBooks or some other accounting app?”
- “Aren’t accountants expensive?”
What a Year-Round Accountant Actually Does
Let’s clear something up: accountants aren’t just “tax people.” A professional accountant, especially one who works year-round helps with:- Monthly bookkeeping and reconciliation so your numbers are always up-to-date.
- Financial reports that tell you how your business is really doing.
- Tax planning,not just filing, but looking ahead to reduce what you owe.
- Payroll management, T4/T5 filings, and staying on top of CRA deadlines.
- Budgeting and forecasting to plan for growth, hiring, or investments.
- Helping you incorporate or change your business structure if needed.
7 Signs It’s Time to Hire an Accountant
Wondering if it’s the right time? Here are seven common signs:- You’re spending too much time on admin. If bookkeeping is eating into your evenings and weekends, it’s time to offload it.
- You’re unsure if you’re CRA-compliant. Missing deadlines or filing incorrectly could trigger penalties or audits.
- You’re not confident about your deductions. You might be overpaying taxes because you don’t know what to claim.
- You’re planning to grow. Whether you're opening a second location or launching new products, an accountant can guide your strategy.
- You want to hire staff. Payroll can get complicated quickly, an accountant ensures it’s done right.
- You’re applying for a loan. Lenders want to see clean financial statements and projections.
- You don’t understand your numbers. If you don’t know your profit margins or cash flow, you can’t make smart decisions.
Don’t Wait Until Tax Season
Many small business owners only hire an accountant for small business needs during tax time. But by then, it’s usually reactive instead of proactive. You can’t go back and fix a missed deduction or adjust your expenses after the fact. When you work with an accountant year-round, you’re planning ahead. You're tracking expenses properly, catching issues early, and making decisions based on real-time financial data, not just guessing.Accountant vs. Bookkeeper: What’s the Difference?
A lot of people confuse these two roles. Here’s the breakdown:- A bookkeeper records day-to-day transactions like receipts, invoices, bank reconciliations.
- An accountant (especially a CPA) interprets that data, provides advice, files taxes, and offers financial insight.
Choosing the Right Accountant
If you’re ready to get help, here’s what to look for:- Experience working with small businesses in your industry.
- Clear pricing, whether it’s monthly packages or pay-as-you-go.
- Year-round availability, not just seasonal.
- A local firm that understands Canadian tax law and CRA procedures.
