How Can An Accountant Help My Business?

By March 18, 2019Accountant, Accountants

Accountants offer so much more than simple bookkeeping and account preparation. With a successful and experienced accountant, businesses can always improve their financial performance. With a range of accounting services, you can always benefit from an accountant.

Coleman & Co provide a range of accounting services for all businesses. Your accountant can always discuss your finances and what improvements can be made.

Creating Business Strategies

To improve financial performance, it is important to have business strategies in place. A business strategy is created to help your business identify and achieve its major goals. Whether this is personal, financial or business goals, accountants can help you create your business strategies and key performance indicators.

It is important that your business strategies actually help you meet your goals and make your goals achievable. Whether you are a business startup or you have just never set marketing strategies, an accountant can always you put these features in place.

Fixing Cash Flow

Cash flow is essential to every business. If your cash flow is not giving you the positive financial performance you desire, there is often a lot of improvements you could make. An accountant will identify why expenditure outweighs revenue and how this can be changed for your business. Just some of the issues an accountant may deal with includes:

  • Create Business Budgets
  • Lower Running Costs
  • Managing Debt
  • Unpaid Invoices

There are several areas of your business that accountants can look at and a suitable solution should be found. To fix your cash flow, it is important to look at all outgoings and what can be prevented or minimised using smart budgets.

Tax Records & Returns

One of the most important processes for every business is your tax records and returns. Taxes are a financial area that most business owners want to outsource and struggle with. Even if you are happy doing your own taxes, there are ways an accountant could help your business with taxes.

Not only will accountants make sure taxes are submitted accurately and on time to avoid fines but they will also provide many other tax services. This can include tax audits and dealing with the HMRC during any investigations or queries. By also fixing any poor record keeping and with legal knowledge, it ensures you never pay more tax than necessary. This can save money whilst also preventing penalties through incorrect tax returns.

Providing Accounting Software

Accounting software is not just used to make your business record keeping more efficient. Accountants should introduce new software to all businesses, whether this is for just one member of staff or a whole team. With accounting software, your finances can be managed much better.

This will also give you the software needed for many other business processes. Whether this is invoicing, taking payment or completing payroll, the best software makes these processes much easier.

Financial Consultancy

Some businesses may be financially stable but this doesn’t mean accountants can’t help your business. With financial consultancy, this can still address many of the issues your business faces and areas of improvement.

If you want to improve your financial performance, advice and consultancy from an accountant can always be beneficial. Even if you do not require accountancy services, accountants will have great experience dealing with many businesses and industries, giving you great knowledge of how finances can be improved.

Contact Us

If you would like more information on our accountancy services, get in touch with Coleman & Co today. We can support all businesses in Lisburn and throughout the surrounding areas and provide you with a trusted, qualified accountant. Call us on 028 9266 3599 or fill in our contact form to make an enquiry.

Leave a Reply