The Accountant's Role (more important now than ever)

The increasingly complicated economic environment coupled with heavy reporting requirements from the Government mean that it's more and more difficult for mum and dad investors, small business owners and even large companies to navigate their way through their financial interests. People are asking more from their accountants than ever before.

An accountant today does so much more than just your tax return. Find a great accountant and they will be there to plan your financial life so that you can get on with living it. Your accountant should excel at risk management, at financial planning, business planning, tax planning, estate planning, retirement and superannuation planning (they do love to plan) and, of course, accurate record keeping, all the while keeping an eye on the economic forecast.

The simple fact is, businesses who utilise their accountants fully do better than those that don't. Your accountant wants you to succeed (it makes them look good).

Here's what a modern accountant can do for you: 

• Financial risk assessments
• Tax planning – tax compliance and management of reporting obligations
• Business planning and consulting
• Financial forecasting
• Help with business startup
• Superannuation assistance
• Estate planning
• Retirement planning
• Investing and share portfolios
• Auditing
• Marketing for your business
• Maintaining accurate and comprehensive financial records
• Producing financial data (such as profit and loss statements)

It's clear that accountants bring a lot to the table. The next step is finding one who is right for you and your business. It's a role that holds a lot of responsibility and trust, so it pays to get it right.

Finding a good accountant

Maybe you just haven't found the right accountant for you. It does pay to shop around. An accountant who wants your business will be upfront with their costings and services. It's not just a numbers game any more; being a good accountant means understanding your clients and your client's industry and providing a high level of client-centred service.

A great accountant will not only have a grounding in many of the above areas, they will also have a large range of professional contacts that can be at your disposal. Business consulting can lead to business management training and business marketing. Need a good solicitor to handle your business startup or purchase? Talk to your accountant first and they will often have the right contact for you. In this way your accountant can become your first port of call when you need business advice. They will already know your business inside and out, and can find just the right person to assist you while providing advice best suited to you and your business's needs.

At Gateway Financial Partners we have over 20 years experience in supplying our clients with high quality accounting and business consulting services. Our team of experts will come to you and are ready to help you today. Call us on 07 3226 1800 or contact us via our online contact form.