Why Your Accountant Should be Involved in Your Business Strategy
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Why Your Accountant Should be Involved in Your Business Strategy
Many business owners only speak with their accountant once a year, and it is often right before tax time. If that is the only time you are checking in, you may be missing out on important support and business insights.
At BCS Accountants, this month’s blog looks at why your accountant should be involved in your business strategy. For more information, contact us on 01524 824111.
They Can Help Reduce Your Tax Bill
One of the main reasons to become self-employed is to optimise your tax position. However, many small business owners still end up paying more tax than they need. This is an area where an accountant can help.
An accountant can:
- Ensure your business structure is the most-tax efficient
- Make sure you maximise all available expenses, deductions, allowances and reliefs
- Advise on pension contributions
Professional Financial Advice
Can Help Improve Cash Flow & Funding Decisions
Many business owners often struggle to manage cash flow effectively. An accountant can provide cash flow statements to help you strategize for seasonal cash drops and prepare for expansion.
If you need to secure funding, an accountant will provide accurate financial reports and projections that strengthen your credentials with potential investors.
Risk Management & Business Continuity
All businesses face risks. Accountants are trained to identify and assess financial risks, and develop contingency plans. For example, if you lose a major client who refuses to pay, your accountant can model the impact to your cash flow and suggest how you can ease losses.
Using Technology & Automation
Accountants show businesses when and how to introduce automated functions and cloud accounting. With accounting software, you see real-time financial activity and can significantly reduce manual errors. These systems allow you to make quick and accurate informed decisions.
Top Quality Advice And A Personal Service
Contact BCS Accountants
For accounting advice, contact our team at BCS Accountants. We are based near Carnforth, but cover Morecambe, Lancaster and Kendal. Call us on 01524 824111. Alternatively, send us a message via our contact form and we’ll be in touch.
Professional Accounting And Tax Advice
Contact BCS Accountants
Address:
BCS Accountants & Tax Consultants
Care of – TRW Accountants
95 King Street
Lancaster, LA1 1RH
Contact Details:
Tel: 01524 824111
Fax: 01524 825327
Email: enquiries@b-c-s.co.uk
