How An Accountant Can Help You Grow Your Business
When ever you hear the word Accountant the first thing you think of is tax. However, Accountants can bring more to the table than just helping you deal with our friends at CRA. Since we spend our days dealing with different businesses who are having different problems we can bring some of the best practices we’ve seen to your business. Here are a few things we can help with:
Calculate cost effectiveness of company investments: Thinking about buying a new piece of equipment or maybe moving your location? Very often there are extra costs or savings involved that we can show to help you make a more informed decision.
Manage and Monitor Cashflow: Cash in a business is the blood that keeps it going so it’s very important to make sure it keeps flowing in and out (but it’s always more fun when it flows in). Simple things like invoicing quickly or making delinquent clients pay up front can go a long way to helping.
Help you find the key performance indicators of your business: Every business is different and every business owner needs to know what are the key areas of their business that are going to make them the most money. Often business owners get bogged down in the day-to-day and a fresh set of eyes can help.
Implement internal accounting systems: When looking at your business if you have poor internal accounting it makes it almost impossible to make decisions. Having an Accounting system set up is not the most fun thing to do but it is necessary to running a successful business.
Internal Controls: Let’s be honest, as much as we want to think our employees are great there is a possibility they could be stealing. People are always getting more innovative on how to steal and Accountants can help put policies in place to reduce this risk.
Maybe your company has a big area that needs help or just a quick second look from an outsider would make you more comfortable. If you have any questions don’t hesitate to call.