Most accountants probably find this question really annoying, but it’s something that small business owners ask again and again. So what do accountants do? Like most questions, the response has to start with “it depends”.
What your accountant does will depend to a large extent on what you need them to do. While accountants cover all tasks from bookkeeping, tax duties, auditing, reporting and general administration work, what you need them to do will depend on your own unique situation.
No two businesses are ever exactly the same, but it’s only fair to say that there are common accounting elements to every business. And the good news is that you don’t need to pay an accountant to look after your financial affairs from beginning to end.
More and more people are taking advantage of outsourced accounting and bookkeeping solutions that are backed up by cloud-based systems.
Xero is a mobile friendly accounting software solution that’s affordable, easy to use and lets you keep your finger on your accounting pulse 24/7 as well as when you’re on the move. A particularly good-looking and user-friendly solution, it provides you with great support, exceptional security and all the peace of mind you need to know that you have an accounting back-up that fits your pocket and your business.
When it comes to combining Xero with accountants, no matter whether you see your accountant face-to-face or your accountant works at a distance, they will do as much or as little as you need them to. This is the approach we take at The Smart Accountants.
It may be that you want to deal with invoices, reconciling bank statements and processing expenses in-house, simply asking your accountant to carry out end of year duties. Alternatively, you may decide to pass everything on to your accountant and relieve yourself completely of this burden. Either way, you can enjoy the peace of mind that when you choose Xero and the right accountant you’ll have a great solution.
Here are some questions you may be facing right now:
Why do accountants charge so much?
A question that’s almost as common as what do accountants do, is why they charge so much! And to be honest this is a bit unfair these days because the days of accountants charging huge fees for doing very little work (if it ever happened) are over. The huge amount of competition between accountants, together with new and revolutionary methods of delivery means that a quality accounting service is accessible to even those business owners with the smallest budgets.
If you choose an outsourced accounting solution, you’ll not only be able to keep your costs down, but you’ll also be able to get on with running your business in the knowledge that your accounting is in good hands.
Can I change accountant?
If you’ve reached the point where you really are wondering what do accountants do, it may be time to change. Lots of business owners worry about changing accountant, but it really is something you shouldn’t be concerned about. Accountants know that clients come and go and are accepting of this and will make the move as easy as they can. It’s worth remembering that when you change accountant, it’s not necessarily a one-way journey – accountants have a real interest in making sure your move goes smoothly; because if they do so, you might come back to them one day!
Isn’t outsourcing complicated?
More and more small business owners are choosing to outsource their accounting and it’s easy to see why. When you choose an outsourced accounting solution, you get all the peace of mind of face-to-face accounting services, but without the high costs. Accounting firms that provide outsourced solutions generally work in low-cost premises and have streamlined their processes to be highly efficient and effective. What this means is that you enjoy the professional service you expect and deserve, but also get to enjoy significant cost savings.
If you’d like to approach your accounting in a different way, but are a little bit hesitant, why not get in touch? At The Smart Accountants we speak your language and we can help reassure you that making sure your accounts are in order today needn’t be expensive, stressful nor time-consuming.
Why are there delays? Many R&D advisers have noted HMRC’s current delay in processing R&D claims. HMRC has concerns that the R&D tax relief schemes…
If you want your company to succeed, you need clear targets — which is why we are diving into non-financial business KPIs. Setting key performance…
People across the land are buying paper plates and bunting ahead of the Queen’s Platinum Jubilee bank holiday, but is your business prepared? The four-day…