The Blog Of TL Wall Accounting

10 Things Accountants Can Do For You

The very first post on this blog, after introducing ourselves, was one titled 5 Reasons You Might Need An Accountant. That post was just over 6 months ago, and where as know that most readers probably loved it, even that post might not have been succinct enough to grab you. So this is a quick post that will list 10 things accountants can do for you because really, unless you love math and statistics, wouldn’t you rather be doing other things? Here we go:

1. Handle all your bookkeeping. If you keep all your records in a shoebox and groan whenever it’s time to put all that stuff together in some cohesive way, you know what I mean.

2. Do your taxes. No, accountants won’t pay your taxes, but they will calculate what you owe, total up what you’ve already paid, take care of all your itemization and even file them electronically for you.

3. Help you budget your money. Whether you need help here for your business or your personal life, budgeting your money helps it go a long way.

4. Make recommendations on how you can get your money to help you. Accountants aren’t financial advisors in the way that means they’ll invest your money. But they can offer advice on who to talk to in investing your money, advise you on whether you should incorporate or not, offer banking advice, etc.

5. Show you charts, graphs, etc, letting you see how you spend and earn your money. You can’t control your money if you’re unsure how you’ve been spending it. You also never really know where you should be concentrating your business efforts without knowing what makes you more money over other things.

6. Work with you on learning how software can help you track your money. TL Wall Accounting works with Quickbooks and can teach you how to use it so you can manage your money better. Other accounting companies might use other software or teach you how to track things using Excel spreadsheets. Either way, they’ll give you tools you can use to help yourself.

7. Accountants can pay your bills. If you’re so inclined, many accounting companies will actually pay your bills for you; using your money of course. They’ll either help you set something up where bills are paid automatically through electronic transfers from your bank or you can give them your checkbook and they’ll handle that for you. You can even have them give you an allowance if you feel you can’t trust yourself.

8. Accountants can negotiate payment arrangements for you. Not all accountants will do this admittedly, but if you’ve gotten yourself in trouble either before you hire an accountant or while having one, some will contact your creditors, be they credit card companies or the IRS, and set up payment arrangements for you, based on their assessment of your ability to pay. They will also tell you if you need to go to someone like Consumer Credit Counseling for more extensive assistance.

9. Accountants know a lot of professionals they can recommend to work with you in many areas. They know lawyers, investors, money managers, even people who offer non-standard services that they work with as clients or even as a customer. You can bet that if an accountant is recommending them, they’re probably pretty good at what they do.

10. Peace of mind. Okay, we ended that original article with this same reason, but truthfully, if you weren’t getting something from it that was making you feel at ease, why would you do it in the first place? 🙂
 

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