Accountancy firms offer different financial services to businesses. These are financial professionals that can help the company with its financing requirement. Some of the services include making payrolls, calculating tax deductions, check and electronic payments, and dealing with vendor invoicing. One of the main things that many companies look for when hiring an accountancy firm is preparing the tax returns and reconciliation of the financial books at year-end.
Most companies hire multiple accountants for different operations. For instance, a company may require the services of a general accountant but will also retain more accountants to deal with taxation matters. While companies have the option to have an in-house department for accountancy but it is an expense to maintain a whole department, and most of the businesses prefer to outsource these operations to professional accountancy firms on a contractual agreement that can last from a few weeks to a fiscal quarter.