An accounting expert is often associated with tax filings, but what else does an accounting expert do? The responsibilities of an accounting expert are much broader. Primarily, they manage their clients’ financial administration, but they also offer support in various areas crucial to the financial health of your business. This article will outline the diverse tasks an accounting expert can perform and explain why outsourcing these tasks can save you time and money while making your accounting easier.
1. Managing Your Financial Administration
In addition to tax filings, an accounting expert keeps your entire financial administration up to date. This includes:
- Preparing annual financial statements
- Creating forecasts
- Conducting VAT checks
- Managing incoming and outgoing invoices
- Processing cash and bank transactions
- Registering receipts and business expenses
- Handling other overdue administrative tasks
Consistently maintaining these records is not only required but also provides you, as a business owner, with a clear overview of your finances. This financial overview is an essential part of what an accounting expert does, as it helps to keep your business financially stable.
2. Managing Payroll Administration
Do you employ staff? Then you’re responsible for payroll administration and paying wage taxes. This can be a complex process due to the many rules and regulations involved. An accounting expert can take over these tasks, ensuring your employees receive their payslips on time and removing complexity for you—accounting convenience tailored to your needs.
3. Preparing Annual Accounts and Balance Sheets
An accounting expert also prepares the annual financial statement, which includes a profit and loss statement and the balance sheet of your business. These documents provide insight into your company’s financial situation and are often necessary when applying for financing or, in the case of a Private or Public Limited Company, for filing numbers with the Chamber of Commerce. What else does an accounting expert do here? They ensure that your business remains financially transparent and up-to-date.
4. Personalized Advice
Accounting experts don’t just provide administrative support; they can also advise you on important financial decisions. At Brand Boekhouders for example, a tax team provides tax advice, assists with strategy, and offers guidance on pension planning. With this tailored advice, they help you think strategically and run your business more efficiently—something both a physical and online accounting expert can provide.
In short, what does an accounting expert do besides submitting tax filings? They can support your entire financial administration, and payroll, and offer valuable advice that helps your business grow. Do you also want more peace of mind and convenience in your finances? Hire a professional online or in-person accounting expert today and focus on what you do best: running your business!
