How Atlanta Accountants Aid Your Business

A good accountant is about a lot more than just filing your business taxes so the IRS doesn’t come knocking at your door. That’s because, contrary to what many people think, accounting is about a whole lot more than tax returns and balance sheets during tax season. No, a good accountant not only carries out the aforementioned duties, but can also perform other key tasks for your business, thereby allowing you to focus more time on growing your company and less time on the other nitty gritty details.

Just what is an accountant? Specifically, an accountant is a professional who is tasked with tracking a business’s income and expenses in order to evaluate its financial status. So with that being said, just what tasks can your Atlanta accountants perform for your company? Here’s a look:

What Can an Accountant do for You?

  • Bookkeeping: This is one of the most basic services offered by accountants. It simply consists of keeping a detailed record of all statements and transactions and then preparing the information in the form of financial statements. Typically, this bookkeeping is done either on a weekly or monthly basis and can give business owners and corporate management a regular idea of how fiscally solvent a business is.
  • Tax services: This is perhaps the service most synonymous with accounting – tax services. And a good accountant does more than just file your taxes properly in order to avoid an IRS audit. A good, experienced accountant can actually save your business big money when it comes to taxes by suggesting tax planning and various saving strategies throughout the year. So while you’ll be paying an accountant to do this work for you, the money you save could far outweigh this expense in the long run.
  • Audits: There are two types of audits: the type that the IRS asks of your business in the event that it finds your tax returns suspicious or the type that you’re required to file if you’re a public company. While the former is an unwelcome type of audit, the latter is mandatory, should you qualify. No matter what kind of audit is needed, however, the truth is that they can be very time consuming. There’s the accounting work that needs to be done to prepare for the audit and the audit itself that consume a lot of time. But it’s a timely service that you can easily pass off to an accountant to avoid the preparatory work that it entails.
  • Reviews: Reviews are another fairly basic accounting task. They’re far less intensive than an audit and are typically done on a quarterly basis. Simply put, a review will take a look at whether a company’s financial statements accurately reflect the company’s financial solvency.

There are variety of other small services that an accountant can provide for a small business. These include the likes of compilations, business consulting, business valuation and financial advising.

So just how can Atlanta accountants aid your business? Essentially, they can eliminate many of the necessary evils that come with operating a business so that you have more time to concentrate on just that – operating your business.

For more on how an accountant can help your business – such as QuickBooks setup and payroll – contact Sound Business Services today.

Post Excerpt

How can an accountant help your Atlanta business? There are plenty of ways that a good accountant can take work out of a business owner’s hands.

Top Tips for Using an Accountant in Atlanta for Your Business

Forbes regularly lists reasons why businesses fail, and the magazine is always packed with great advice about what to do or what not to do.

In fact, the reason Forbes has been so successful is the expertise and insight offered for many professions. Readers enjoy the suggestions and are encouraged to apply the lessons or examples to their workplaces.

Last September, its “don’t do this” list shared that 8 out of every 10 businesses fail within the first 18 months.

Some of the predictable causes boil down to human factors like poor customer service or poor leadership, but ultimately they’re about money – how much there is and how well it is handled.

An accountant can be a vital asset for both areas, which is why this career and accounting skills are so important.

Whether you have someone on staff with accounting credentials, or contract with an outside firm, either way you’ll be provided with an excellent reckoning of your current financial situation plus projections for future growth opportunities or possible declines.

If you’ve ever considered hiring an accountant in Atlanta to help your business, here are some advantages.

  • Help make sense of the numbers.

To some accountants, helping people solve problems is what gets them going and what a lot of them even studied for years. But smaller companies sometimes may have been launched by placing non-accounting people in critical bookkeeping roles simply because no one else was available at the time, and an “everyone does everything” philosophy. While this entrepreneurship is commendable, a smarter move is to either hire an in-house or contracted accountant who can focus primarily on the financials. This will let other company leaders utilize their non-accounting skills in other areas, such as marketing, product development or research. (Managers should still be aware of regular financial numbers through)

  • Keep up with changes.

Just because you took some accounting classes in college years ago doesn’t mean you know all the current ins and outs. Both the State of Georgia and the U.S. government are regularly making modifications to their respective tax codes. For instance, some states, including Georgia, offer what’s informally referred to as an “Amazon tax” which requires retailers to collect sales tax on online orders even if they don’t have property or employees in that state.

  • Experience with non-profits.

In many cases, non-profits have plenty of people with passion and spirit for whatever objective the group promotes or opposes. It also may have a surplus of volunteers just dying to help in any way they can. But well-kept books are essential especially at a non-profit that may have a lean budget. An accountant in Atlanta familiar with non-profits can also make sure all appropriate paperwork is filled out on a regular basis to keep their legal exemption designation.

  • Help at all levels.

Depending on their experience and training, an accountant may be more familiar with the financial needs of different types of businesses, such as limited liability corporations or limited liability partnerships or even tiny home-based products or service providers. Just as there’s no “one size fits all” approach to what type of business models exist in Atlanta, there’s a lot of flexibility in how much or what areas customers may need the services of an accountant. They could need extra assistance in handling all details where money is involved, or only certain specific aspects. A company could have its own bookkeeping staff take care of day-to-day revenue and expenses, but bring in a pro to help with end-of-month reconciliations or annual/quarterly tax preparation services. Accountants can also offer extra assistance with payroll.

  • Non-business assistance.

Qualified accounting help isn’t just available for Atlanta-based businesses. Private accountants also can be willing to help with individual financial needs, especially people trying to put their own tax documents together or navigate Quickbooks. The popular software program has released several updates over the year, but still may be a little confusing to some users. Accounting firms can handle all the duties or even offer some training or troubleshooting.

accountant Atlanta

Post Excerpt

Modern Atlanta accountants are the superheroes of the financial world. They can jump in anywhere clients need help or even show company owners useful techniques.Sources: https://sbsaccountants.com/ http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/ http://www.cnet.com/news/confused-about-online-sales-taxes-youre-not-alone/ http://www.incorporategeorgia.us/choosing.php