Accountancy has been described as the language of business, and most businesses owners see the accounts as an important part of their business.
However, it’s often the task that gets done once they run out of ways to put it off, or the deadlines finally arrive. At this point, many people decide to find an accountant to just get it done for them.
Maybe, just maybe, people find it a little bit boring.
We often find things boring that just don’t seem relevant to us.
Unfortunately, many people feel that way about their accounts This isn’t surprising when you think that accountancy for small businesses has been predominately driven by compliance.
What forms to send to whom and when, taxes fines and penalties, rules and guidelines.
At the end of this, the Annual Accounts do not really tell a business anything they don’t already know. But then they are more for the benefit of others anyway.
It’s all important, but not likely to get you out of bed in the morning.
Times they are a Changin’
It’s not surprising that small businesses and accountants have taken this tack. It would have been too onerous for many small businesses to have their accounts produced more frequently and tailored to their personal requirements.
Fortunately, it doesn’t have to be that way anymore. The accessibility of software and use of the cloud can help businesses have more useful conversations with their accountants.
And, with a bit of guidance, you can have a good grasp of what is happening with your business’ finances.
Asking what you really want to know.
There is a perception that your accountant is the person who deals with the yukky compliance stuff at the end of the year. But, I’d urge you to challenge this! Ask the questions that really concern you!
Let’s face it, asking questions about whether this or that is tax deductible is hardly the reason you set up your business.
- How much should you charge?
- How best to manage your resources?
- Could you take on more employees?
- Could you move to a larger premises?
- Invest in a new project?
- What are your accounts actually “saying”?
Get stuck in! You don’t need to be an expert.
Rather than seeing accountancy as a tedious process to keep legal, I’d challenge you to see it as a tool to help you run your business.