Full access to Entrepreneur for $5

Do You Need an Accountant?

Accountants are more than number-crunchers; they can be an integral part of your strategic planning team.

This story appears in the August 2001 issue of Entrepreneurs Start-Ups magazine.

Stacy Perez is a typical new business owner. She's a sole proprietor, she doesn't have any employees yet, and she uses an accounting professional only to do her taxes. "I'm not big enough for an accountant-it's just me right now," says the 31-year-old owner of Dot Com Mommies, a Hanover Park, Illinois, company that lists legitimate business and work-at-home opportunities on its Web site. "But when I start hiring people, then I think I'll need one."

Next Step
Where's the MoneyFind answers to your financing questions with Where's the Money by Art Beroff & Dwayne Moyers.

Currently, all Perez's money goes toward paying bills, she explains, and her sales are not such that she needs the professional services of an accountant. She currently uses only a Microsoft Excel spreadsheet to keep track of company expenses and income. But should she reach her goal of $10,000 in monthly revenues-which could happen once her new e-books hit the market-she says that could trigger the need for both an accountant and a business advisor.

Continue reading this article -- and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!