The importance of an accountant for your small business
Your small business uses an accountant, right? An accountant is not just important for filing taxes. She can provide financial insight throughout the year, advising you on bookkeeping practices, inventory control and, of course, tax issues.
While you can certainly use software or a bookkeeper to track your revenue and expenses, an accountant can use that data to look at the big picture and help you set and meet goals. Whether you are the only employee or have several employees, an accountant is important for payroll processes. He also can make sure the appropriate tax forms are sent to your employees and independent contractors in a timely fashion.
Looking for financing for your next business phase? You will need to provide financial statements. An accountant will be able to prepare these financial statements. He also can help with budget planning with an eye on tax advantages — or disadvantages — of certain decisions you make.
Convinced your bookkeeper can handle all of this? Instead, consider how your bookkeeper and accountant will work together as a team for the success and compliance of your business.
Ideally, your accountant should be with you from the beginning of your business journey. However, if you haven’t brought in an accountant yet, consider making a change today.