Accounting Software vs an Accountant – What’s Best for Your Business?

With so many easy-to-use accounting software options available, many business owners feel they can manage their finances independently. This can be tempting, especially when cash flow is tight in the early years. However, keeping on top of bookkeeping and tax rules can be time-consuming, and mistakes can be costly. So, is there a point when an accountant becomes worth the investment?

If you’re wondering whether to make the switch, here are a few factors to consider.

 

Time

Before deciding to manage your own finances, ask yourself: Do I enjoy admin work? Am I confident in handling tax and accounts? How much time am I spending on this?

If managing finances takes several hours a month, time you could be using to grow your business, then it may be worth outsourcing to an accountant. They can handle bookkeeping, tax returns, and financial planning efficiently, often for less than what your own time is worth.

 

Business Structure

Should you be a sole trader, set up a partnership, or register as a limited company? Each structure has different legal and tax implications. An accountant can explain your options and help you choose the best setup for your business.

For example, if you have multiple income sources, setting up a limited company could save you money in the long run but it does come with more legal admin. You can figure this out yourself, but an accountant’s guidance can make the process much easier.

 

Record Keeping

If you need to register for VAT, hire employees, or manage payroll, things can get more complex. Tax returns, VAT payments, and payroll systems must all be handled correctly.

A good accountant can help you set up an organised bookkeeping system, whether that’s a simple spreadsheet or a cloud-based tool. Having clear records means you’ll always know what you owe, what you’re owed and when deadlines are coming up, therefore giving you peace of mind.

 

Growing Your Business

An accountant isn’t just there for tax returns—they can also be a valuable business adviser. If you’re looking for funding to grow your business, they can guide you on the best financial strategies and help you avoid unnecessary risks.

Once you’ve secured funding, an accountant can help you plan how to use it wisely, ensuring your business grows in a sustainable way.

 

The Irish Perspective

In Ireland, tax regulations and business structures have evolved significantly in recent years. The merging of professional accounting bodies and stricter compliance requirements mean that working with an accountant can help you navigate these changes more effectively.

Additionally, local accountants understand the Irish business landscape, including government grants, tax reliefs, and funding opportunities that could benefit your business.

 

Final Thoughts

Accounting software can work well if you have a simple business and are comfortable handling finances. But as your business expands, an accountant can offer expert advice, save you time, and even reduce your tax bill all while ensuring everything is done correctly.

Some business owners choose both using software for day-to-day management and consulting an accountant for high-level decisions. The right choice depends on your business, your confidence with finances, and how much time you’re willing to spend on bookkeeping.

 

 

Last updated: 16th July 2025