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, you do not have the whole picture if you have yet to hire one. Here we will look at what accountants do and what they can do for a small business, including yours.
Are You Doing The Accounting Tasks for Your Business?
If you own a small business, you know first-hand what it is like 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 open a bank account and then write the first invoices. Next, they must track finances, file taxes, and manage expenses.
Would You Like to Spend Less Time Managing the Books for Your Small Business?
Handling your business’s accounting and bookkeeping tasks might work initially. 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 more business accounting to do, but it also gets more complicated.
It becomes a severe time stealer, and stress and anxiety mount. And that means you spend increasingly valuable time on accounting. The longer this goes on, the harder it is to keep up with the books. You are not an Alpharetta accountant or CPA, so you need assistance with these tasks..
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 handle all 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 your transactions.
Also, they can manage invoices, prepare financial documents and reports, create balance sheets, audit your books, prepare tax returns, and much more. Being a certified public accountant is not mandatory.
What Other Tasks Can A Small Business Accountant Do Besides Tax Services And Financial Tracking?
Aside from tax services and financial tracking, a small business accountant can provide various services that benefit a business. For one, they can help with bookkeeping, which involves keeping track of a company’s financial transactions. Alpharetta’s bookkeeping involves organizing financial records such as transactions, cash flow, and day-to-day financial data.
While entrepreneurs may assume this task as part of owning a business, bookkeeping is not simple. It involves many calculations, accounting tasks, and record-keeping duties. Correctly doing it is critical to the success of any business. Therefore, intelligent business owners find a bookkeeper to manage day-to-day Alpharetta bookkeeping tasks.
Accounting Partners offers Alpharetta bookkeeping services at every level to suit the needs of any business owner. Depending on their needs and budget, one can outsource as many or as few bookkeeping tasks as they wish. Consider your requirements, conditions, and funding to find your business’s Alpharetta bookkeeper.
Hiring a bookkeeping service is often among the first significant steps a company takes when moving toward success. Outsourcing work gives you more freedom to run your business, concentrating on keeping your clients happy.
What is The Role of an Accountant for Alpharetta’s Small Businesses?
In addition to essential financial record keeping, accountants can support your business in ways you might not expect. Additionally, they can offer advice on cash flow management to help companies to make knowledgeable financial decisions. They may also be able to assist with payroll processing, invoicing, and billing. A small business accountant can be a valuable resource for businesses looking to stay on top of their finances and make smart financial decisions.
Here are more details on 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 correct 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 create a budget considering staffing, overhead, cash flow, and expenditures.
Did little planning go into your company’s financial record-keeping and reporting processes? If so, you may be trying to do everything yourself. Unfortunately, with only so much time in a day, business owners doing the books may neglect daily financial tasks at times. And when accounting falls behind, catching up is difficult.
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
To secure business financing, 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?
These reports and financial statements are available with a knowledgeable accountant on your team. Hire an Alpharetta accounting firm to customize reports and ideas for you and third parties. They can also provide other financial statements and information, such as balance sheets, income, and cash flow statements.
Administration of Fixed Assets
Tracking capital expenditures is a critical aspect of managing a small business, and an accounting firm can be a valuable partner in this process. They can provide a range of services related to the administration of fixed assets, including assisting with the initial acquisition process and determining the most appropriate financing options. They can also help track and manage fixed assets, ensuring they are appropriately accounted for and maintained.
Additionally, accounting firms can guide the various methods used to calculate depreciation. They can assist with the disposal of fixed assets when they are no longer needed. With the help of an Alpharetta accounting firm, you can be confident that your fixed assets management is effective and efficient.
It’s always important for businesses to reconcile all their accounts, lines of credit, and business credit card balances regularly to maintain accurate financial records. However, this can be a time-consuming task, so many businesses outsource this service to an accounting firm. By doing so, a team of professionals can monitor your accounts and maintain precise records. They can also verify your records in QuickBooks, ensuring you have an up-to-date and accurate picture of your financial situation.
Only a tax professional can ensure your organization takes advantage of every tax credit and tax deduction you can. 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 an uncertain future.
Small business and sales tax are top concerns for many small business owners. Independent contractors, freelancers, self-employed professionals, and gig workers also need help preparing small business taxes and filing taxes.
The ins and outs of sales tax compliance need not be yours to tackle alone. Business owners should seek professional sales tax services from Accounting Partners.
How Can An Accountant Help With Administrative Tasks Associated With Financial Management?
An accountant can help with administrative tasks associated with financial management by handling invoicing and bill payments. That can help small business owners save time and focus on growing their business instead of getting bogged down in financial paperwork.
Accounts Receivable, Accounts Payable, Billing, and Invoicing Management
Outsourcing your billing and invoicing management to a professional accountant can be a wise investment for any business owner looking to streamline their financial management and boost their bottom line. By doing so, you can enjoy several benefits, such as freeing up valuable time and resources to grow your business. In addition, you’ll have peace of mind knowing that an experienced professional is handling your finances. That can help you avoid costly mistakes and ensure your financial records are accurate and up-to-date.
Furthermore, you’ll benefit from expert advice on optimizing your billing and invoicing processes, helping you reduce costs and maximize profits. With the help of an accountant, you can identify areas for improvement and implement strategies to improve your financial performance. Outsourcing your billing and invoicing management to an accountant is a wise choice for any business owner. It lets you focus on your core competencies while ensuring that a qualified professional handles your financial management.
But payroll management can take enormous time, especially as your employee headcount grows. Running payroll through your accounting software system is a safe way to keep this critical 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 need a bookkeeper more than an accountant 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 and accurately file its income taxes.
An accountant can manage bookkeeping tasks, but they take it one step further. They analyze that financial 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 cannot effectively forecast for the future, understand the trends of your business, and realize growth opportunities.
Why Try Outsourced Accounting Services Today?
There are only 24 hours a day, and trying to squeeze as much into those hours as possible is commendable. But your time is valuable, and you must 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, hand over the kit and kaboodle, or outsource 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.
How Can Hiring An Accountant Benefit A Small Business?
So, why hire an accountant when you can outsource your accounting? That is something we would like to discuss with you. However, whether you hire our outsource, engaging the services of an accountant can be a highly advantageous move for small businesses. Besides providing tax services and financial tracking, an accountant can offer valuable support in bookkeeping, budgeting, and cash flow management. Additionally, they can assist with payroll processing, invoicing, and billing.
A small business accountant can be a valuable resource for firms that seek to maintain a tight grip on their finances and make informed financial decisions. Engaging an accountant’s services frees up time for small business owners to focus on other crucial aspects of their business. It ensures that their finances are in capable hands.
But beyond that, our accounting firm provides business consulting and strategic planning. It would help if you had a trusted outside resource to offer insights into your business structure, business financing options, and forecasting to grow your business. Additionally, an accountant can provide valuable advice and guidance on financial decisions, such as reducing expenses and increasing profits. Hiring an accountant can streamline financial management and provide peace of mind for small business owners.
Where Can You Find 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 processing, consulting, and more. Accounting Partners has been the top small business accounting firm since 1986 and offers free consultations. Contact them today.