Small business owners ask this often. An owner with an accounting background may manage the books alone. Many others find the numbers hard going, and they don't have to struggle: they can hand the work to an accountant.
What it takes
Small businesses need a different kind of attention from large ones. Neither is more important, but their budgets and the work involved are very different.
The first step is simple: talk to a few qualified accountants who take on small businesses.
Is it right for you?
If you want better systems and more time to run the business, the answer is usually yes. Choose an accountant who is qualified, experienced and affordable, and check that they are a registered tax agent on the Tax Practitioners Board register.
Budget is a real concern for most small business owners. Think about where the business is going: do you want to grow and get your finances in order, or are you happy with things as they are?
And if you are qualified to do the work yourself, you may not need to pay someone else for all of it. Your accountant can still keep you up to date with the ATO's rules.
Talk to your accountant about which parts of your accounting to hand over.