Whether you’re a sole trader or a company, every business has a legal duty to maintain accurate financial records. These records must be reported for tax purposes. Business accounting involves accurately recording your financial data so that it can be analysed, interpreted, and reported to both stakeholders and government organisations.For small businesses, it can be tempting to keep accounting in-house. In fact, many sole traders start out by maintaining their own accounts, only to realise that it becomes a challenging task as the business grows larger. Outsourcing your business’ accounts to an accountant can save you both time and effort, as well as minimising the chances of mistakes being made.If you’re a larger company, outsourcing your accounts to a professional accountant simply makes sense. It’s one less function for you to worry about overseeing – you can focus on what’s really important to your business whilst the professional accountant deals with your business finances.