We all know in a vague sense what accountants are and what they do. But what are the actual tasks that they take care of for the businesses that hire them and use their services? That’s something that’s not quite as clear if you’ve never worked as an account or used one for your business before. But if you run a business, the chances are you should be using an accountant to help you with a variety of tasks essential to the smooth running of your business. Find out more below.
Help Limited Companies Meet Their Statutory Obligations
First of all, an accountant can help their client to meet all of their statutory obligations. This is particularly important for limited companies that are obligated to fill out accounts and submit them to Companies House on an annual basis. This is something that can be pretty challenging to do in a way that’s accurate by someone who’s not an accountant, so having a professional on your side helps a lot.
Help with Tax Returns
Another thing they’ll help companies like yours with is tax returns. Filing taxes and making sure that it\’s all done on time and in accordance with the rules is something that can be very tough indeed. If you’re looking to make sure that you always meet those deadlines and get things done properly, the easiest approach to take is to put it in the hands of your accountant.
Keep Track of the Business’s Financial Health
The financial health of your business is another thing that you won’t want to ignore. When your company is growing, you need to know where and how money is being spent and what the cash flow situation looks like. Having properly kept and up-to-date accounts make that much easier. Working with the right accountants Glasgow will make that possible for you.
Making projections about the future of your business and what your financial health might ultimately look like moving forward can also be important. But it’s impossible to make any kind of accurate projections when you don’t have properly managed accounts. So having an accountant take care of that for you can make those projections more realistic and worthwhile.
Assist with Budgeting Tasks
Accountants can even help their business clients with things like budgeting tasks. Creating sustainable and realistic budgets isn’t always something that’s easy to do, but it can be done with the right accountant on your team. They’ll ensure that you’re creating budgets that are realistic for you and that give your business the financial breathing space it needs. They’re more accurate and safer when prepared with the help of someone who knows your accounts inside out.
If you’re currently looking for a new accountant that you can rely on, there are many accountants in Glasgow that’ll serve you well. Here at AM+ Accountancy, we’ll be more than happy to speak with you about your needs and start building a business relationship if you’d like us to take care of your accounting requirements.