Talking Cents

What A Good Business Accountant Can Do For You

Get your taxes done accurately and correctly
When you hear the word “taxes”, you draw a strong association with accountants. This is probably because accountants hold a great reputation for helping businesses with taxes. This doesn't mean that good business accountants are those who can magically make you pay zero tax but they make sure what you’re paying is right.

Open communication
Good business accountants know that communication is not a one-way street. It is not you giving them accounting tasks, they complete it and send it back to you. This, in the long run, is not good for your business because it leaves you in oblivion when it comes to anything with your finances. Rather, business accountants should be transparent with what they are doing and how they are doing it. Finance is a big part of your business operations, so it only makes sense that you are understanding how the accountant is dealing with your financial performance.

Commitment to understanding your business
Just like how employees receive training to get to know the business, accountants should be the same. This doesn’t mean upon hiring an accountant, you should give them training but rather, they too should put effort into knowing your business. Even though accountants are not your employees, they are still working for you. It is ineffective for someone to work for you if they do not have a clear picture of your business goals, vision, and direction. Again, they are dealing with your finances, if they do not understand your business, they will not be able to play an advisory role or produce advice that is sufficient to improve performance.

It’s not a one-time thing
If you are investing in a business accountant, you should know that they are not there just to do your taxes. Accountants are highly useful because they can help you with anything within the financial field so if you’re going to invest in an accountant, you need to know why you need them and what they can do for you. In saying this, this would mean business accountants should be proactive and get involved in your business - the more they are active, the higher the likelihood they can help you grow.

Know the ropes
Ultimately, a good business accountant does not steer the ship but is more so a navigator. As a business accountant, their role is to help your business from making financial mistakes that would weaken the business’ performance. To do this, they need to know the ropes of your business - know what your business entails and the vision you have. If you’re a small business and feel like having an accountant is unnecessary because it’s usually for bigger firms, you should think again. Small businesses are just as important, there are accounting firms like M.A.S Partners who provide accounting services for small businesses. So if you are looking for a small business accountant in Sydney, turn to Australia’s original accounting firm for small businesses, M.A.S Partners. To speak with our team about the services we offer and what we can do for you, call us on (02) 9211 5000 or visit our website at https://www.masaccountants.com.au/