The accounting game has changed. As we mentioned last month, accounting is no longer just about bookkeeping, compliance and year-end accounts – it’s about understanding your finances and having a brilliant overview of your business.
So, if cloud accounting makes it so easy to cover the compliance basics, where’s the value in having an accountant?
The value of great business advice
Cloud technology has undoubtedly made it easier for small businesses to do their own financial admin. But seeing your accountant as a glorified bean counter is missing the point in 2015.
In fact, we don’t think of ourselves as accountants in the traditional sense at all. We’re business advisers that can have a meaningful impact on the future success of your company. We don’t just deliver the numbers any more: we analyse your data, pull out the key insights and talk through strategies to grab the big business opportunities and avoid the financial pitfalls.
The value you get as a client lies in our experience, wisdom, knowledge, thought processes and expertise. That’s what you’re getting for the cost of your fee – not someone who balances your books and ticks the right compliance boxes.
Accounts are a data goldmine
A modern accountant does a whole lot more than just your accounts. But we are still very interested in those accounts – and that’s because your books contain the core data that drives your business.
Data is the fuel for good business advice. When you’re making a big business decision, you need sound, solid evidence and numbers to base your thinking on. So, if your accountant runs the books, they can be 100% sure that they’re accurate, on time and providing the figures that are needed for deeper financial intelligence.
Accounts for free, as standard?
As such, getting your accounts done could become the foundation of even the most basic accounting package. We could be approaching a time when you get your accounts done for free, and you pay only for the value-added information and guidance that your adviser gives you.
Wouldn’t you rather focus your monthly spend on practical advice about disappearing profits, online marketing or tax planning? Spending money on practical, strategic advice that benefits the long-term future of the business is money well spent.
The best accountants won’t mind doing your accounts for free – as a matter of fact, they may well prefer it. With complete control and comfort over your books and the data they contain, your accountant can have absolute confidence in those numbers. And that creates a rock-solid foundation for the value-driven business advice that’s their bread and butter.
Get a review of your accounts
Having a relationship with a business adviser that understands your business, your goals and the ups and down of your sector is a complete contrast to working with a traditional, old-school accountant.
At Tyrrell, we’re very much in the former camp. We know the importance of talking to and listening to our clients. But we also know the true value of getting the foundational accounts right before diving in head-first with any business advice.
If you’d like us to review your accounts, and help you set up an effective financial foundation before building your future goals, we’d love to hear from you. Get in touch to arrange an accounts review session.