Small business owners often rely on their own understanding to manage their businesses’ financials--maybe because they believe that accountants are only there for tax preparation.
But accountants can fulfill a much larger role, serving as a financial guide for the business. They can take all the back-office financial tasks off your plate and give you a personalized checklist of deadlines and documents to keep you organized and on track.
This, along with other essential tasks like keeping your books up-to-date, maintaining a detailed account of expense records and income reports, and having someone who is experienced in reconciling accounts will provide you with so much more peace of mind as a business owner.
Their financial services will be a huge help, but good accountants also offer more than handling the numbers.
Why Good Accounting Is More Than Tax Prep
A good accountant will serve as a financial guide for your business. They’ll stand by you throughout the year and support you during that critical year-end period.
They understand that you have more interest in running your business than you do in managing your finances. So they take all the back-office financial tasks off your plate and give you a personalized checklist of deadlines and documents to keep you organized and on track.
This, along with other essential tasks like keeping your books up-to-date, maintaining a detailed account of expense records and income reports, and having someone who is experienced in reconciling accounts will provide you with so much more peace of mind as a business owner.
Their financial services will be a huge help, but good accountants also offer more than handling the numbers.
Good Accountants Help Make Big Decisions
Nearly every big decision for your company is centered on your finances. A good accountant knows your company numbers from the inside out. They will track and compile the right data into meaningful reports and apply what they find to improve weak areas.
These reports can then be used as reference points for making decisions. With the help of their data-backed advice, you can be confident you are making decisions that best serve your business and drive growth.
Through better decision-making, you’ll see much more success, setting your business up for a bright future.
Good Accountants Help You Plan for the Future
When you manage your own finances, it’s easy for you to focus on the now. A good accountant will help you look towards the future.
With a forward-looking financial system as the goal, they’ll supply your company with vital information like:
Detailed budgets
Sales goals
Cash flow forecasts
All of which can be used to prepare for the future.
From there, a good accountant will implement systems and processes that will be used to ensure you’re hitting each of your benchmarks and getting the most out of your reports.
Once these systems and processes are put into place, they can be used for years to come. Should your business begin to outgrow them, your accountant will make adjustments, so they can continue to serve you and your business as best as possible.
Good Accountants Are Dedicated to Your Finances
When you hire an accountant, their main focus is to manage your finances. There are no distractions; improving your financial state is of utmost priority. As a result, they can spend time implementing systems and processes and tracking progress for your business.
For example, QuickBooks accounting software is the most popular system on the market. More than 29 million small-to-medium business (SMB) owners in the US use this system for bookkeeping. Using QuickBooks is easy, however getting the most out of it takes a strong understanding and can require a lot of upkeep, something many business owners don’t have the time to dive into.
Good accountants will know how to work systems, like QuickBooks, and use them to your advantage. You won’t have to take the time to figure out the ins and outs because they’ll do it for you. Your financial success is important to them.
Good Accountants Add Experience to Your Finances
You may understand the basics of your finances, but good accountants have a much better, deeper understanding. They are trained and certified in the latest accounting practices and most are constantly studying to stay up-to-date with trends and new information. In other words, they are experts, and they are always evolving.
Good accountants know what it takes to run a successful business from a financial perspective. When you let the professionals handle the heavy work, you save yourself the hassle and burden of all things financial. This includes:
Bookkeeping
Financial strategies
Planning and budgeting
Payroll set up and processing
And more
Anything that has to do with money will be taken care of by someone who has a deep understanding of it.
Turn to SIMPLY Financials PLUS
If you are looking for a good accountant to act as a financial guide to your business, contact SIMPLY Financials PLUS. We have the time, knowledge, and understanding to help improve your accounting systems and processes and we will work with your tax preparer to ensure everyone is on the same page to grow your business.
Let our team of accountants and software services work to manage your accounting and bookkeeping needs. Whether you are just getting started and have no idea where to begin, or you are a pro at managing your finances, we can help you. Give us a call at 203-614-8396 and let our team set you up with the right services for your company.