Here are our top 5 tips on how to get the most from your accountant
Ever wondered what else your accountant can do to help your business grow? Whilst we know that Accountants can do our income tax, help us with your BAS, GST and PAYG there are a variety of other things that your Accountant can do that you might not know about.
Leverage their knowledge
Accountants who are engaged by small businesses tend to have a greater understanding of their business needs. Chat to your accountant about ways you can make your business better or discuss a challenge you may be having and stay in touch. Accountants have a holistic view to business and can share insights you might be unable to see so close to the centre of things and by staying in regular contact you provide them with the opportunity to provide you with insights and recommendations along the way.
Recognise your strengths (but also the things that limit you)
Simply put, know what you are good at. Outsource non-core components of your business to people who can get it done quickly and easily rather than burning hours that could be spent on revenue-generating activities. By knowing what you are good at you can ensure that you are leveraging your skills and expertise to generate revenue, and allowing an appropriate amount of resource to those things you don’t do as well.
Help us help you
Use your accountants checklists to help you prepare for your appointments, by being prepared you eliminated the need for follow up, delays in your work being finalised and it helps your accountant to make the most efficient use of your appointment time.
Plan, Review, Plan
If you have plans for world domination discuss them with your accountant, it not only creates the opportunity to gain useful insights into ways you can implement these plans in your business but by involving your accountant in your business planning, they can help keep you accountable to your goal (and help you adjust the course along the way).
Make sure you have the right one
Do your checks and make sure that your accountant is skilled in the areas you know you need. Choose one who not only understands your industry but also has worked with small companies in your sector before. By matching your accountant to your business, and establishing a great working relationship you provide the opportunities to your accountant to really add value over the longer term
Not getting the most out of your present accountant? If you need a chat about your situation, feel free to contact JSM Accounting and one of our friendly staff can assist you.