What Does an Accountant Do and How Can One Make Your Alpharetta Small Business Better?
If you ask most people, “What does an Alpharetta small business accountant do?” most would say they handle tax services and financial tracking. But there is so much more a small business accountant can do.
They can help you with the administrative tasks associated with your financial management. But they can also help you run your business with more insight, confidence, and financial stability.
You might think you know what an accountant can do for your small business. However, if you have yet to hire one, you really don’t have the whole picture. Here we will take a look at what accountants do, and what they can do for a small business, including yours.
Are You Doing the Accounting for Your Business?
If you own a small business, you know first-hand what it is like to try to keep up with all the tasks you need to do. On top of that, there are endless obligations to meet. And so many hats to wear to grow your business.
Commonly, small business owners start out doing the accounting for their business. They will most likely open a bank account and then write the first invoices. Next, they need to track finances, file taxes, and manage expenses.
We Know You Would You Like to Spend Less Time Managing the Books for Your Small Business?
Handling the accounting and bookkeeping tasks for your business might work in the beginning. But it may not once your business gets some momentum. As your business grows, so do your accounting needs. And suddenly, not only is there is more business accounting to do, but it also gets more complicated.
It becomes a serious time stealer and stress and anxiety mount. And that means you spend more and more valuable time on accounting. The longer this goes on, the harder it is to keep up with the books. Especially if you are not an accountant or CPA, which most small business owners are not.
Do You Want More Time to Grow Your Alpharetta Business?
If you are up to your ears in bills, invoices, pay stubs, bank statements, and tax codes, take a step back. Hiring an Alpharetta accountant or accounting firm can take all of those chores off your plate. That will free up precious time to let you focus on your products, services, and customers.
What Difference Does It Make? Does a Small Business Accountant Need to Be a CPA?
An accountant for your small business does not need to be a CPA. A professionally trained, experienced accountant can handle all the services you need. A qualified accounting firm can manage the bookkeeping, including keeping track of all of your transactions.
Also, they can manage invoices, prepare financial documents and reports, create balance sheets, audit your books, prepare tax returns, and much more. A certified public accountant is not mandatory.
What is The Role of an Accountant for Alpharetta’s Small Businesses?
In addition to basic financial record keeping, accountants can support your business in ways you might not expect. Here are some unexpected ways a small business accountant can be an asset to you.
An Accountant Can Provide Startup Consulting
To avoid the common startup mistakes many entrepreneurs make, bring a consulting firm on board. An Alpharetta accounting team can be your startup business advisor. They can guide your decision-making.
Make informed decisions about entity selection that can impact your tax status. Obtain the right tax ID numbers, choose the most appropriate accounting software, and ensure you have sufficient funding.
Budget Creation Help
An accountant develops a budget with you to support your business goals. Get effective direction to effectively create a budget that considers staffing, overhead, cash flow, and expenditures.
QuickBooks Setup and Clean Up
Did little planning go into your company’s financial record keeping and financial reporting processes? If so, you may be trying to do everything yourself. Unfortunately, with only so much time in s day, financial tasks are pushed back when business owners do the books.
Whether you are planning a startup or planning to get help for an existing one, look for QuickBooks ProAdvisors. A QuickBooks ProAdvisor that is also a degreed accountant can be most helpful. Outsource experts of this level from Accounting Partners and discover the difference.
Financial Statements and Financial Data Reports
Investors, bankers, and financiers expect you to present your financial information in a specific format. Can you document your business financials in a way specific to their needs? And how much time would you need to create this type of report?
With a knowledgeable accountant on your team, these reports and financial statements are done for you. Hire an Alpharetta accounting firm to customize reports and statements for you and for third parties.
Administration of Fixed Assets
Tracking capital expenditures is a critical task for every small business. Your accounting firm accurately tracks capital expenditures to determine depreciation for your business taxes.
Reconciling all your accounts, lines of credit, and business credit card balances requires constant monitoring. You do not have the extra time, but an accounting firm will maintain current precise records for you. And verify it in QuickBooks as well.
Accounts Receivable, Accounts Payable, Billing, and Invoicing Management
Let an experienced accountant handle the administration of your accounts receivable and payable. Instead of attempting it yourself or adding it to your administrative assistant’s duties hire a professional. Use your valuable time, staff, and resources to better your business, not blunder your bookkeeping.
Tax Planning and Sales Tax Compliance
Only a tax professional can ensure your organization takes advantage of all the tax credits and tax deductions you are entitled to. And through tax planning, one can structure future transactions for the best possible tax outcomes. Without sufficient financial and tax planning, a business will face a more uncertain future.
Small business taxes and sales tax are top concerns for many small business owners. Independent contractors, freelancers, self-employed professionals, and gig workers also need help with small business tax preparation and filing.
The ins and outs of sales tax compliance need not be yours to tackle alone. Business owners are wise to seek professional sales tax services from a firm like Accounting Partners.
Payroll Administration and Processing Services
But payroll management can take an enormous amount of time, especially as your employee headcount grows. Running payroll through your accounting software system is a safe way to keep all of this important data in your accounting system.
Accountants can process payroll using your QuickBooks data to retain hours, salary, wages, benefits, and tax information.
Should You Hire Alpharetta Accountants, Bookkeepers, or CPAs?
You might feel like what you need is a bookkeeper more than an accountant – someone who strictly manages data input and records transactions. The role of the bookkeeper is to generate and track data regarding an organization’s financial activities.
This role is critical for any business as the information must be correct for a company to thrive and grow, not to mention accurately filing their income taxes.
An accountant can manage bookkeeping tasks, but they take it one step further. They take that data and turn it into usable information. This information is vital for reporting, audits, taxes, income statements, and balance sheets.
Why is this so crucial? Because without this analyzed data, you can’t effectively forecast for the future, understand the trends of your business, and realize opportunities for growth.
Why Try Outsourced Accounting Services Today?
There are only 24 hours in a day. We all wish there were more, and we try to squeeze as much into those hours as we can. But your time is valuable, and it is important you focus it on your business. No one knows your company, products, and services as you do.
So, stop taking time out of your busy day to manage the books and accounting. Outsource these critical tasks to trained professionals with oodles of experience.
Outsource all financial tasks and hand over the whole kit and kaboodle or outsource just specific duties? You can outsource an accountant for a small business to help manage your workload.
At Accounting Partners, you can outsource many things to a team of experts. We will handle accounting, prepare taxes, and manage payroll. Moreover, outsourcing consulting services allows our team to support you and advise on investing, staffing, budgeting, forecasting, business strategy, and more.
Where Can You Turn for Professional Accounting Services?
Do you need an accountant for your small business? Maybe not. But if you want to take advantage of the freedom to do more with your time, consider it. The expertise an accounting firm offers, and the information, data, financial reporting, and tax planning guidance they can provide are significant.
At Accounting Partners, Inc., we pride ourselves on providing customized services to our clients. That includes bookkeeping, tax planning, payroll, consulting, and more.
Call 678-990-0924 for a free consultation.
We can show you how a small business Alpharetta accountant can help you do business better.