When you have a small business, your accounting efforts should not be something that you only do once a year at tax time. Ideally, you also don’t want your only interactions with your tax professional to be your assistant dropping off a box of receipts and you signing a check for your taxes. While some companies, especially small businesses, operate this way, they shouldn’t.

Treating your CPA like a Bookkeeper is Bad for Business

Your CPA is not someone who just runs your numbers and makes sure you stay in compliance with state and federal regulations. I am a tax professional who can offer you guidance on the best way to run your business from a financial standpoint.

The right accountant will be able to dissect your company’s finances and offer advice about the way you run your business. What’s great about this is that as an outside service provider your accountant is wholly objective. We only see your quantified performance – the numbers.

As such, we can review your numbers and point out areas where you are struggling and should consider outsourcing and core areas of your business that could use more of your attention (aka investment).

Getting a Deeper Look at your Numbers

As accountants, we don’t stop there either. An experienced accounting professional is going to be able to go even deeper. We can analyze your performance over time and spot trends. Seeing the ways those efforts can contribute or detract from your bottom line is easy, but understanding the broader implications is not so straightforward. We can use this information to help you spot where you should focus and potential opportunities.

We can also help you establish goals and ways to track your company’s performance towards those objectives. In some cases, your accountant may even be able to identify and configure a handful of key performance indicators (KPIs), so you can always see how your company is doing.

Conclusion

When you run a small business, you may not be able to afford to hire a CFO or finance professional to have on staff at all times, but you can leverage the skills of your CPA. Move beyond bookkeeping and learn to strategize financially with a person who can understand your business objectively, make fiscally-smart recommendations, and advise you about changes to the tax code that could be in your benefit. If you are ready to take your small business accounting to the next level, contact us. Afterall, your success is our business.