As a business owner, you must eventually decide which tasks to do yourself and which tasks to delegate.
Like most people, you are probably an expert on some topics but not ALL that relates to your work (and you shouldn’t have to be!). There are certain things that you may need to outsource - like your business bookkeeping. So… who do you rely on to help you with your finances? An accountant. Let’s go over exactly what an accountant does and how they can help your small business THRIVE.
What is an Accountant?
In short, accountants are experts on business finances. They are vital to the organization of your monthly financials, analyzing your cost of operations, looking at your investments and profits, and auditing any existing financial statements. Based on their findings they will put together financial documents and give financial recommendations specific to your business.
They Live and Breath Numbers
Accountants benefit and help your business grow in so many ways. No one knows finances as an accountant does - they truly live and breathe numbers. Whether you are just starting out, have been running a business for a while, are a huge business or a small one, you will always need an accountant on your side.
They Help Make Business Plans
At the start of your business journey, they can help you write a business plan. They will take a look at the niche you are in, employ the appropriate software, and then make financial recommendations. Without a good business plan, you may have a harder time getting a loan. Banks like to look at numbers and research. When an accountant is behind these numbers, not only will you have all the necessary information available to you but banks will also be more likely to trust the information given.
Keeps Your Finances in Order
An accountant will keep your finances in order. They know the proper procedures and processes for keeping track of your books. They will even look at your cash flow and help you optimize it. Things won’t go missed (like tax write-offs!) when an accountant is helping you out.
They Help You Make More Money
Accountants are all about making you more money! They want to see your business be as successful as possible. Their recommendations are for the health of your business and can include areas to cut costs, areas that are making you the most profit, and how much to pay yourself.
Saves You Time
How much time do you spend trying to keep your business's finances in order? Our guess is a lot - especially if you are waiting until tax time! By outsourcing your monthly bookkeeping to an accountant, your highly valuable time can be put to other important tasks to grow your business.
How Can InLine Accounting Help?
At InLine Accounting, we offer remote and ala carte bookkeeping and advisory services. We take the guesswork and stress out of your business bookkeeping. If you have any questions, please feel free to reach out to us on our contact page and we’d be happy to help!