The role of an accountant is often understated, with many people believing they’re handy to know around tax time but not essential throughout the rest of the year. If you’re trying to develop your business, or simply want to put more of your own time into making your company profitable, a good accountant can be more than just a tax assistant.
While there are some accountants out there who specialize in these one-off jobs, having a qualified accountant working closely with you can do amazing things for your business. Here are just a few ways in which a good accountant will deliver.
They’ll help grow your business
Small business owners, in particular, start their business because it’s a passion of theirs, but quickly find they have little time for pursuing their dreams because they’re tied down with running the “behind the scenes” jobs.
A good accountant can take care of the tasks that keep your business running, while you focus on planning and strategizing to create more profit. By focusing on business development and leaving the finances to an accountant, you’re ensuring that you have the best-suited people working in their respective areas of expertise.
They’ll identify key indicators for success
A good accountant will work with you to set relevant indicators for success, meaning you’re always aware of how well your business is running. He or she is trained to see and assess all possible forms of profitability so that you don’t need to spend their time doing so.
With some simple key indicators in place, you are able to easily check how well they are measuring up at regular intervals, and make the necessary changes as they see fit.
They’ll help you make wise business decisions
While most of your business planning will come down to you as the business owner, a good accountant will be like a sounding board for your big decisions. With their extensive financial history and prior knowledge of your business, they can be helpful in regards to assets, debt, retirement planning, and staff recruitment.
Regular meetings with an accountant before making large decisions will give you professional insight into possible issues or indicators which might affect the outcome of your decision. Here at Hart Partners, we want to work with you to help you grow your business. For a tailored approach to your accounting needs, give us a call on 03 9600 3220.
* * * Disclaimer: No person should act on the general information in this article without taking specific advice from a qualified adviser. * * *