You can generally expect a typical accountant to take on routine accounting tasks like maintaining your records and calculating your tax returns. These are essential processes, but there’s so much more to accounting than just crunching numbers.
A great accountant will go beyond the basics by building on what they learn from your accounts to give you tailored financial advice and provide specialist services. Accountancy isn’t just about keeping you afloat – it’s about helping you and your business go from strength to strength.
Here’s why you need an accountant who does more.
Achieve your long term goals
Accountants are financial experts, and as such are perfectly positioned to provide specialist financial advice on how to handle your personal and business finances.
If you’re the director of a business, your accountant could help you draw up an in-depth business plan to help you hit your targets. Whether you run a multi-national company or have just started out, this kind of advice can be invaluable in growing your business. Your accountant can work closely with you to come up with a strategy tailored to your unique goals and circumstances.
This service can be especially useful to business-owners with growth ambitions, or those who want to grow their business in order to sell it for a profit. Whatever your long-term goals, your accountant can help you achieve them.
Protect your wealth
For individuals, your accountant may be able to offer wealth management services. Specialist advisers can guide you through the wealth planning process to ensure you retain as many of your hard-earned assets as possible.
A great wealth management plan can ensure you remain financially secure during retirement, as well as make sure your assets go to your loved ones when you pass away.
Reduce your tax bills
Working with an accountant that offers comprehensive tax planning services can save you money on your bills.
Accountants are tax experts, which means they know the system inside and out. They can use their knowledge of the various tax reliefs and allowances available to reduce your tax liability, while still ensuring you stay compliant with ever-changing legislation.
Navigating a tax strategy can be difficult, but working with a professional can ensure you don’t pay more tax than you need to.
Lighten the load
Hiring an accountant to calculate your taxes and perform routine tasks can save you a lot of time and energy, and the same can be said for more complex tasks.
Taking on important financial decisions by yourself can be taxing, while your accountant can make your workload much easier to manage.
Knowing your finances are in safe hands will take off some of the pressure, and give you more time to focus on what matters.
Understand your finances
If you’re a business owner, knowing how your business is progressing is essential. But it can often be hard to keep track of your day-to-day finances, particularly if you have a lot on your plate.
Accountants can take what they learn from your accounts to produce comprehensive financial reports and forecasts. This can help you understand your business’s finances, as well as identify any areas of improvement.
Make outsourcing less complicated
If you need to access a range of services, using several providers can get complicated, expensive and can even lead to delays in communication between different firms.
Meanwhile, outsourcing everything to your accountant can make things a lot simpler. With all your financial needs taken care of under one roof, it will be a lot easier to keep track of your finances, as well as quicker for your accountant to access the information they need.
At Condie & Co, we know what it takes to help you thrive. Our experienced team of chartered accountants and financial advisers will work hard to meet your needs, no matter how complex.
Get in touch to find out what our team of expert advisers and accountants can do for you.