Your accounting firm might be able to provide you with “one stop shopping” for all or most of your business’s accounting, tax, and financial needs.
If you’re a busy business owner (that’s redundant!), check with your accounting firm to see if they can help you with more than just your periodic tax filings:
- Business start-up. Many smart entrepreneurs call a great accountant first, even before they open their doors to the public. A strong accounting firm can help arrange the paperwork for the proper registration of your business entity, and set up a chart of accounts that’s just right for your specific business.
- Periodic bookkeeping chores. From payroll to P&L… receivables and payables… the routine bookkeeping chores can often be outsourced to your accounting firm. And that’s a great idea – the more your accountant knows about the day-to-day details of your operation, the more they can help your business.
- Catching up. Almost all small businesses sometimes find themselves falling behind on their bookkeeping and accounting. Your accountant can catch you up, and even put systems in place to help you avoid falling behind in the future.
- Taxes, of course. You spend time with your accountant, either in person or on the phone, at tax time… but smart business owners also engage their accountant’s services for savvy tax planning. That makes tax season go more smoothly (and cost less money) when it rolls around.
- Mapping your business’s future. What’s your exit strategy? Your accountant can help you think through the many options. Retirement… succession… estate planning… trusts. These are things with which you want the help of a trusted professional.
- Personal and “outside” interests. For many small business owners, business and personal taxes are one-and-the-same… but for many others, they aren’t. Is the accountant you trust for your business accounting helping you with the personal stuff as well? And don’t just think taxes: consider personal financial planning, and accounting help with any non-profits or charities with which you might be involved, too.
- And sound financial business advice. If you employ a Chief Financial Officer, great. But if your firm hasn’t grown to that stage yet, consider how your professional accountant might help with solid business advice. A great accountant knows business – they’re usually in business, just like you – and your accountant also knows your business like nobody else.
Don’t drive yourself crazy trying to do it all on your own. Get professional help with your business’s accounting and financial matters, so you can focus on growing the firm (and have the advice you need to do it right). Call your accountant today, and find out how they can help your company beyond taking care of your periodic tax filings. It just makes sense.