Does My Business Need An Accountant? A Handy Guide
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The prevalence of small business accounting software is enabling anyone to benefit from the tools. Traditionally, this work was undertaken by an accountant, and so it begins to beg the question: does your business need one in the modern age?
Join us as we explore what both software and an accountant can do for you, allowing you to come to an informed decision.
The automation capabilities of bookkeeping tools mean that users can have the time-consuming burden of sums taken off their hands. Working out financial calculations for you, this part of accounting has now been made considerably more efficient and cost-effective. Plus, it offers more accuracy too: it’s kept continuously up to date, and you can guarantee no errors relating to an inerasable paper mistake.
Accountants who are in-keeping with the digital age will use bookkeeping software. They will be able to benefit from these features themselves, with the repetitive and administration-type tasks simplified. They can therefore focus on other aspects of their business and provide a better service to their clients.
Business accounts software is certainly getting smarter, having advanced features such as the ability to recommend how to reduce tax bills. However, some argue it can’t match up to the expertise of an accountant. Could the tools truly provide effective guidance (and to the same level) on things like tax planning, forecasting and budgeting?
Really, the know-how required will depend on the needs of your business. Some accountants assist with other aspects that can play a part in your finances, such as legislation like Making Tax Digital (MTD). This may mean that using an accountant will help move your business forward. But remember: some software providers also offer expert support from accounting specialists.
Whether an accountant can provide you with this extra expertise will be determined by their service offering and paid packages. They may also include other tools which might prove valuable to you. Some accounting software integrates with a wide range of other systems, for example, so you can have them all working together seamlessly and issue-free.
If you’re already using specific software, make sure that the accountant you’re thinking of selecting will work with that provider. But also think about the wider aims of your business, and whether the solution you choose has enough scope to adapt and grow with you.
The best accountant will use the best tools, and Liquid Accounts’ are award-winning. Our software is available for accountants and businesses alike, so whether you opt to get outside help or not, you’ll still be able to benefit from Liquid.
We provide bespoke, highly customised solutions, and we also have endless integration. The Liquid API connects with all sorts of platforms – from CRMs to e-commerce systems. We have an MTD for VAT Filer too, so that you can ensure compliance if you or your clients are impacted by this legislation. We even have our own time tracking software and payroll tools if you require them. With us, your processes will be all the more seamless.
To take advantage of Liquid’s solution, accountant or no accountant, get in touch with our friendly team today. You can reach us on 0161 413 5050 or by emailing info@liquidaccounts.com.