The role of the accountant has altered and evolved over the last few decades. It was once the case that an accountant was dedicated solely to sorting out all things tax-related, and while they are still very much adept at performing that role, there is far more to accountancy than simply balancing the books.
For your business to succeed – regardless of its size or sector – making use of the services of an accountant will be crucial. In this article, we’ll take a look at exactly how an accountant can be of assistance, and give you a firm understanding of what it is they specialise in.
1. Business planning
Accountants tend to work with various clients, meaning that they have experience in making decisions that will impact a business for the better. An accountant can offer valuable advice and guidance based on years of accumulated knowledge, ensuring your business is always moving in the right direction.
Accountants can act as a valuable sounding board. If you have ideas, concepts or business predictions that you are contemplating implementing, speaking to an accountant will give you a firm understanding of whether or not it is viable.
3. Business structuring
If your business is to succeed in both the short- and long-term, you need to have the right foundations in place. An accountant can help you decide upon the most suitable structure, and will then be able to advise on any changes that need to occur as the business grows and evolves.
As well as helping your business with its tax requirements, an accountant can also ensure that all of your business obligations with regard to HMRC – which can be complicated and multifaceted – are dealt with effectively and accurately.
5. Cutting costs
Nobody will understand your business’ financial situation better than your accountant, and so they are best placed to help you figure out when and where costs can be cut and can ensure that you aren’t wasting money or spending unnecessarily. Accountants can provide support exactly when it is needed and can help with all financial outlays, be they minor or major.
Want to learn more about how an accountant can help your business to thrive? Get in touch today.