You are likely to need the services of:
- a firm of accountants
- a firm of solicitors
You may also need the services of a specialist professional stocktaker.
Accountancy firms offer a wide range of business services, including book-keeping, drawing up the annual accounts, preparing tax and VAT returns, handling the operation of PAYE, giving tax, VAT and business advice and so on. It is worth asking other business people to recommend a good accountancy firm to you if you do not know of one. The ICAEW, Chartered Accountants Ireland and ACCA websites include online directories that can help you to find accountancy firms in your area.
Ask the firm to estimate the likely cost of the accountancy services you will require and enter this amount in the month you expect to pay the fees.
A solicitor will help you decide on what form your business will take and will handle such matters as entering into a dealer agreement, drawing up a partnership agreement or forming a company. Solicitors also offer a range of services that may be helpful to you in the early days of setting up and running your business - for example advising on contracts, dealing with property and planning matters, and so on.
As with accountancy services, ask your chosen solicitor to estimate the likely cost of any services you require and enter the amount in the month when you expect to pay for them.
It is important to monitor your business on a regular basis and, if you have a large amount of stock, a periodic stocktake will help you do this. You will also need to have stocktaking done at the end of the year. You might decide to get this done by a professional stocktaker rather than doing it yourself.