10 things your accountant should be doing for you

The biggest financial event of the year is nearly here – tax time! In anticipation, we’ve done the math and put together a list of 10 things you should expect from your accountant. So while they’re counting your tax, you can calculate their benefit to your business. If something doesn’t add up with your current accountant, contact our team and we’ll make up the difference. 

  1. Dabbling In Fortune Telling
    Your accountant should have a side hustle in fortune telling, and be able to forecast trends, predict costs and conjure up a budget that betters your business. If your accountant isn’t projecting your future and giving you detailed estimates, chat to our team. Our abilities might only help us to look 6-12 weeks into the future, but it’s better than most!

  2. Droppin’ Da BAS Early
    A bit of a build up around tax time creates some anticipation and excitement about where your business could go next year. But to get you into a good rhythm, your accountant should be droppin’ the BAS early with statements and claims calculated before the due date. Get on top of the beat with Wollongong Business Accountants. 

  3. Xero-ing In 
    Your accountant should be an expert on Xero and your business to see what you spend, where you could save and how to simplify the process. By narrowing in on your business, we concentrate our efforts, set better targets and aim to save you more at tax time. What’s your accountant shooting for?
  1. Taking You Back To The Future
    While we can’t change the past, we should be helping you choose what the future of your business looks like. Through a long term strategy, you decide how the business ages, and whether the family lineage continues or someone else steps in.

  2. Realising the Reality Of Your Alternate Reality
    Planning for the future means preparing for different realities. To be ‘sale ready’ at any time, every dimension of your business should be planned and prepared. There should be a bright future greeting you, whatever portal you decide to jump through.

  3. Keeping You Afloat
    To keep up with the ebb and flow of income and expenditure, it’s important to implement improvement strategies and a detailed management plan. These processes can help you manage the tides as they rise and fall and keep you afloat in every condition. You might be treading water with your current accountant, but you’ll be swimming upstream with WBA. 
  1. Managing The Self Managed
    To manage your self managed superannuation, accountants should be streamlining the process and setting up a clear financial structure to give you control of your retirement. When payday comes, you can put your feet up knowing that your hard work has paid off.   
  1. Calling Not Stalling 
    Instead of going straight to voicemail or having messages left on ‘seen’, your ears should be ringing with solutions from your accountant that better your business. One of the biggest problems business owners have with their accountants is that they only get in contact once or twice a year. For some, this might be too much but at Wollongong Business Accountants we find that regular contact builds better relationships and good relationships are the building blocks of great businesses. 
  1. Appreciating Your Business 
    As well as appreciating you as a client, with the correct care, calculations and consideration your business should appreciate over time too. The magic formula to create an upward trend is an holistic approach that extends beyond the books and into growth strategies and plans. 
  1. Accumulating Interest In You
    While most people earn it over time, our interest in you starts from day dot. Accruing a genuine interest in your business means investing in it now and understanding where you want it to be in the future. It’s about balancing the books with the bigger picture to grow at the best rate possible. 

Most importantly, your accountant should be breathing new energy into your business, helping you to maximise the ups and minimise the downs – all while making what you do an enjoyable experience. At Wollongong Business Accountants we believe in working smarter, not harder and so it is our goal to help our clients find clever ways to grow their businesses. Call Wollongong Business Accountants today, it might be the smartest business decision you’ve made in a while.