Introduction – Small Business Accountant
As a small business owner, you’ll have your hands full with everything from marketing and sales to keeping on top of your accounts. That’s why it’s important that you employ the services of an accountant – someone who can help organise your finances, offer advice and make sure that you stay within the law. Clayton Stirling is a trusted charted accountant in Gravesend with over 25 years of experience, get in touch today if you want a chat!
An accountant can analyse your spending and find ways to make your money go further.
An accountant can analyse your spending and find ways to make your money go further. By comparing your spending habits with those of similar businesses in the same industry, they can help you understand where your money is going and suggest ways in which you can save money:
- For example, if you have a lot of employees on an hourly contract but few full-time staff, it might be worth re-evaluating whether the benefits of having more full-time workers are worth the extra cost.
- Alternatively, if all the other companies in your industry are using a certain type of software or piece of equipment to perform certain functions within their business (such as accounting), it may make sense for them to switch over as well rather than spending time trying to work out how best they can use this technology themselves.
An accountant will keep you on the right side of HMRC.
An accountant will help you stay on the right side of HMRC (Her Majesty’s Revenue and Customs). The government department is responsible for collecting taxes, enforcing tax law and collecting National Insurance. It also collects VAT (VAT stands for value-added tax and is a form of sales tax), PAYE (PAYE stands for pay as you earn, which refers to income tax paid by employees) and other types of income tax.
An accountant can advise on how to improve profit and cash flow.
An accountant can advise on how to improve profit and cash flow. They can help you reduce costs, maximise savings and increase your bottom line. Read more about Clayton Stirling to see how we can improve your profit and cash flow.
What’s an accountant’s role in business?
An accountant will help you make sure your finances are in order. They’ll also make sure you’re compliant with tax laws and that you have a solid understanding of how to track and categorize your expenses.
An accountant can also help you make better decisions as well as plan for the future. They’ll advise you on what kind of equipment makes sense for your business, how much inventory to order, when it might be time to hire someone (or fire someone), and whether or not it’s a good idea to take out a loan—the list goes on!
An accountant gives your business a professional image.
People trust accountants. A client who sees your company’s books in the hands of an accountant will assume that you’re more trustworthy than if you had to do all the work yourself, because how could someone who’s so good at mathematics be anything but honest? Most importantly, clients will know that their money is in safe hands: an accountant has been trained to detect fraud before it happens and will make sure every penny that comes through your doors goes into the right account.
Mistakes are costly.
Mistakes are costly. While you’re busy running your business and making sure it’s profitable, there are some common mistakes that businesses make that can cause serious problems down the road. How do you avoid them?
Accountants provide guidance on how to legally reduce your tax burden. An accountant can also give tax advice regarding retirement savings strategies and other ways to plan for your future financial needs as a business owner. They’ll work with you to put together financial statements that clearly highlight what’s happening within your company so that when something goes wrong—and it will at some point—you’ll have all the information needed to understand what happened, why it happened, and how best to prevent it from happening again in the future.
Employing an accountant is one of the best decisions you can make as a small business owner.
Employing an accountant is one of the best decisions you can make as a small business owner. An accountant will help you to make more money, save money, pay less tax and save time. Read more about Clayton Stirling, accountants in Gravesend and the services we offer here.
They will also help you to be more organised and more effective in your business.
Conclusion
Hopefully, we’ve given you some food for thought. In conclusion, we believe that the best way to be successful in business is by making the right decisions at every step of the way. By hiring an accountant, you can take one of those steps towards success with confidence in what lies ahead.
