Having an employee requires you to file state and federal taxes (Unemployment tax, Social Security, and Medicare tax), as well as document pay.
This can be a daunting task and take your focus away from growing your business. You might be tempted to outsource all your accounting, work, but I caution against that, because where your income and expenses are coming from is the pulse of your business. Monitoring that pulse and understanding the financial details will allow you to make sound business decisions.
To keep in touch with your financials while outsourcing the detail work, I recommend a free program called Wave accounting or QuickBooks Online.
Wave is a free cloud based accounting for small business that allows automatic downloads from credit cards and banks, but I find their payroll services and auto filing lacking compared to QuickBooks (about $40 a month). In addition QuickBooks is the gold standard for accountants and this will save time and cost when working with an accountant.
By taking small steps and keeping up with your expense and income weekly, bi-weekly or monthly, come tax time it can easily be exported to your accountant.
TIP: Meet with your accountant at the start of year to make sure you categorize expenses and income correctly.