How do you handle your stress? Do you go for a walk, exercise, ring a friend, or meditate?
How about ringing your accountant?
Well…you don’t usually hear people saying that, but read on to hear how a good accountant can help to ease the burden of stress in your life in a big way.
Question: How many hats are you wearing in your business?
Let’s face it:
Running your own business can be pretty hectic.
There is so much to think of…
So many hats you need to wear…
Sometimes it all gets too much, and it’s easy to become stressed and worn out.
Although it’s great being your own boss, sometimes it can be lonely too, doing all the various roles of a business on your own.
That’s where an accountant can become a key part of your team – helping you reduce stress and make better decisions.
6 Ways A Good Accountant Can Help You
#1: Assisting with creating or updating business and financial processes
Without sound financial management, business success is elusive.
Ensuring all your processes and procedures are in place around your cash flow allows for more accurate reporting and a clearer picture of your business’s financial position.
Knowing your financial position, in turn, helps you make better decisions on where to take your business next and what level of risk is acceptable.
#2: Staying abreast of the latest technology and financial software
Many digital tools are now available to help streamline your financial record-keeping. A good accountant with knowledge of cutting-edge tools can advise you on which ones are the best for your business – an invaluable way to save time and money.
For example, we are a Xero Gold partner and have been able to help many clients drastically streamline their business processes with this software and its related apps.
#3: Keeping our clients informed of any changes in tax and financial legislation
Several recent legislation changes have been around small business accounting, such as changes to the Super Guarantee. Being abreast of the latest developments can keep you on good terms with the ATO and your employees.
#4: Having a direct link to the Australian Taxation Office (ATO) and resolving any issues on your behalf
Being audited by the ATO is a possibility for any small business owner. However, having an accountant can make the experience much less stressful – and you’re more likely to have a better outcome.
#5: Monitoring your financial reports and provide advice if necessary
Even though you may be generating financial reports from your software…
Do you understand what the figures mean?
A seasoned accountant can make sense of your financials and point out trends in the data you may not have recognised.
They can also bring attention to the numbers that truly matter, which leads to better business decisions.
#6: Professional, accurate and efficient bookkeeping services to keep your records and reporting up to date
For many business owners, doing your own bookkeeping could be a false economy.
Although it may seem you are saving costs by not employing a bookkeeper, it could be costing you far more than you realise.
Besides the time better spent on other aspects of your business, many business owners input data incorrectly, which can distort a business’s financial performance – for better or worse.
Take my advice:
Trade that afternoon sweating over the books with taking the afternoon off – let your bookkeeper handle it.
The Central Coast Accountant That Can Help You
You can think of an accountant as part of the financial team of your business – we are here to help and provide our financial expertise when you need it.
You can think of us as part of your team, working with and alongside you.
By doing this, we can relieve some of the financial stress of running your organisation or business and give you back some much-needed time and headspace to relax and unwind…
At MYC Partners Accountants, we have a team of expert, professional and friendly accountants who can assist you in meeting the financial goals of your business and providing business advice you can trust.
We don’t just meet our clients once an annum when your tax is due – we prioritise maintaining an ongoing professional relationship throughout the year with regular meetings and catch-ups.
We enjoy being able to benefit their clients, to take some of their stress away so that you can get on and do the business you really want to do. Seeing our clients happy makes us happy!
Contact us today to see how our Woy Woy Accountants can help your business.