Accountants verify and analyze your company’s day-to-day transactions.
Accountants turn your raw data into useful information. Therefore, data entered is verified, reports are generated and analyzed. Audits are performed and financial reporting records are prepared.
These include tax returns, income statements and balance sheets. This analysis of financial information provides valuable information for forecasts, trends, opportunities for growth and when to be cautious on the management of cash flow.
Your account allows you to look at the big picture of your company.
It is critical for ongoing success to ensure the accuracy of the data to enable you to make informed decisions for the future of your business.
People often ask what the difference is between a bookkeeper and an accountant.
The bookkeeper merely captures your data of your daily transactions in your company, whereas the accountant turns your data into useful information to help you make sound decisions regarding your business’ management and growth.
Every year tax legislation changes leaving small business owners with conundrums when facing financial decisions, for example knowing what tax deductions can be claimed. Accountants stay up to date with these new legislations and can offer expert financial advice to develop budgets and set financial goals.
So the more obvious and proper questions would rather be: Do you only want to keep track of your day-to-day transactions? Or, do you want useful information derived from your day-to-day transactions by an expert financial advisor, namely your accountant, at your fingertips?