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What is the role of an accountant in a small company?
You may have tried to manage your own bookkeeping, but you find it too difficult. Hiring a small business accountant can be one of the most beneficial decisions for a small business.
What can an accountant do for small businesses?
Accounting software can be integrated into the small business financial system to help a business owner. Accountants are able to assist with financial analysis, integration of accounting software, compliance and advice on revenue growth or loss, as well how to improve the financial health.
Accountants are capable of doing so much more for your business than managing its finances. They can advise, suggest and implement software and systems that will allow you to spend your time on your strengths.
This guide will teach you all you need to be a successful business owner. Find out why you should use Account Ease to grow your business.
What is the role of an accountant in a small business?
A small business accountant is a valuable asset to any team, whether you are a sole trader or have a large business.
An accountant can ease the stress of managing finances for a business if you don’t know how to do basic bookkeeping, or if your business is expanding rapidly. This is a full-time job, and you should focus your attention elsewhere if your business is to thrive.
Accounting software is capable of a great deal, but it’s still important to analyze your cash flow. You should also consider how revenue affects your business plan.
Accountants are the main operators and organizers of cash flow for small businesses.
What is an accountant? But how do they actually do it all?
What can accountants do for your business?
Bookkeeping is one of the tasks that an accountant can assist with. Bookkeeping helps you keep track of the overall revenue for your business and compare it to the expenses that must be paid out.
A good small business accountant will spend a lot of time keeping track of the finances for your small business. A good accountant will tell you at every stage of the process what your revenue is, if you’re making a gain or loss, and what to do to convert a loss to a profit.
A professional accountant can also prepare all the reports required for the tax season, as well as the end-of-year reports for the business. A professional accountant can provide you with a clear overview of the financial situation of your company to help you make informed decisions.
Account Ease is a friendly and approachable firm that offers advice and peace-of-mind to its clients.
We have a wealth of experience in general practice and can answer any question. We are cost-effective, and we can save you money. But we also believe that excellent service is available at an affordable price.
Small business owners are the focus
Our small business accountants all have the same philosophy: they provide superior accounting services, but also offer help and complete integration with small businesses.
We assist a business owner in preparing financial reports that ensure compliance with company regulations. We will also set up a meeting with you to discuss how the financials impact your business. You want to know what you’re signing as a business owner.
This process, we believe, helps clients develop a more productive and important business relationship with their accountant beyond the preparation of financial reports.
Small business finances are constantly fluctuating. When you factor in the payroll costs, HMRC and other financial regulations, including VAT, a business adviser is an excellent way to manage your financial side of your business.
What other services could your business require?
There are many other services an accountant can offer. We’ve already talked about taxes and bookkeeping.
The creation of financial accounts, including management accounts, is one of the most useful. Financial reports are usually in three forms: a cash flow report, a profit and loss statement and a balance.
Financial statements should be reviewed regularly by small business owners to ensure they have a current report on the income and expenses of their company. These reports can be very useful during tax season. They can also help you see trends or variances that may impact your business’ profitability.
You can get a regular cash flow analysis from your accountant. This will show you the cash flow at different points in time and how much is available. The amount of money that’s left can then be used to upgrade or add on to the business.
An accountant can also provide a balance sheet, which is a very useful tool. You can use the balance sheet to determine how your business and bank account are performing at any given time. This sheet can give you an overview of how your business is doing. It shows you what you own, what you owe, and the amount you owe.
A professional accountant is also available to provide advice on a variety of topics, including whether a new business bank account or payroll procedure improvement are needed, as well as how to improve sales, maintain financial growth, remain in compliance with HMRC and how to analyze data.
All of these services are available and our accountants will not simply be there to take care of your books, then leave.
What is the average cost of an accountant for a small business?
A good accountant is worth the price. An accountant is not worth the cost if they don’t save you time, money and stress.
Account Ease charges all its company clients monthly, in advance of year-end. This is done via direct debit. For a limited company, we charge a monthly fee of £120 plus VAT (unless the company is dormant). This is our standard package, which excludes Xero, bookkeeping, VAT returns and other services.
The cost of bookkeeping depends on the amount of bank transactions and receipts or invoices that are issued each month. Our fees for your tax return and company accounts are tailored to you. Please contact us so that we can discuss what you require.
A consultation will allow us to discuss pricing in greater detail. We want to make sure you have all the accounting features you need and not extras you don’t need.
How important is accounting to overall cash flow?
Even though a small business accountant is expensive, he or she can save a company money. No matter whether you’re a sole-trader, a small-business owner or something in between, an accountant who knows your business can help you focus on what matters most, which is the business.
You can’t grow your business if you don’t have a good bookkeeping system. You can save time by outsourcing your bookkeeping and be assured that everything is in order. You will have the necessary accounting records in case you are inspected by HMRC.
If you want to be able to accurately track your cash flow, then you need to ensure that your accounting is accurate.
Accounting is so important to your business’s success that you want to make sure it is accurate in every detail. Cash flow can be unpredictable for small businesses. A competent accountant can help you understand these changes, and guide you on the best way to proceed.
Anyone can enter data into software systems, but only an accountant with a specialisation in accounting can analyse the information and compare it to the nature of the company.
Account Ease Can Help Small Businesses
Account Ease will work with you to prepare your statutory accounting, no matter what stage your business is in.
Our team of experienced accountants can assist with the setup of internal systems to generate management information. We can then interpret the numbers that are produced by the system and work with you on new business strategies.
We offer a free consultation at to discuss your accounting needs.
Fill out our contact form to get in touch with one of our friendly and professional accountants.
