What do accountants do?
The main role of an accountant is to prepare financial records and make sure they are correct. Accountants can work for the government, work for the internal finances of a specific business, or work with individuals and companies to help them manage their finances.
What will an accountant need to know about my finances?
Accountants look after five main parts of a business’s finances, including the assets, liabilities, equity, expenses, and income.
Do I legally need to have an accountant?
The only time you legally need an accountant is if a company is big enough to require an audit. Otherwise, you do not legally need an accountant, but if you choose not to have one, you have to ensure that complex paperwork is processed on time and to the correct standard.
Why is it worth hiring an accountant?
One of the biggest reasons we are contacted is to prevent people from getting into legal trouble because businesses have to provide records of their accounts by law. Another huge reason is that doing your accounts properly can help you make more money through paying less tax or it can help inform you of certain business decisions. Bringing in an accountant can save you a lot of time and responsibility as well.
How could an accountant help my business?
We help new businesses and companies looking to expand. Starting a new business involves a lot of tasks, so an accountant can help you get up and running and avoid mistakes. If you are thinking about expanding your business, an accountant can control costs and draw up budgets to see if your expansion is financially viable.
How can an accountant help me with my personal finances?
Accountants can help with tax, pensions, and changes to your salary or job. We also help you deal with situations involving large sums of money, such as a mortgage or inheritance.
How regularly should I see my accountant?
This is up to you. Some may only need to see us once a year, others will need to see us more regularly - it all depends on the type of work you need us to do.