In the spirit of Valentine’s Day, which is just days away, I wanted to point out the reasons I love my employees, most of whom are not just bookkeepers, but accountants.
WE LOVE CUTTING COSTS
By nature, accountants are frugal. We like to pinch and save wherever we can. Your accountant should be looking out for your bottom line. He or she should know your business well enough to offer advice about cost cutting options. If your bookkeeper or accountant isn’t doing this or isn’t offering financial insight, then you may need to consider looking at a professional who does.
WE DO YOUR TAX RETURN
Bookkeepers can do your books, but not many can or should be doing your taxes. At DM Accounting, we offer professional bookkeeping services for business owners, but the difference is, we are also Certified Public Accountants. That means not only will we review and manage your month-to-month financials, but we will also file your tax return for you. Since we have a handle on your business throughout the year, we try to offer tax saving advice, which hopefully results in a refund.
WE HELP YOU PLAN FOR THE FUTURE
Your accountant not only reconciles your books every month and helps send and collect invoices, but he or she should be doing a quarterly profit and cash flow statement for you. A profit and cash flow statement paints a picture of where your business stands. It should show you how much you’re bringing in and what part of your business is making you money. The P&L Statement could accompany a set of performance indicators, such as customer complaints, which could be the reason for low performing sales.
WE ARE TRUSTED CONFIDANTS
Clients often tell me that it’s harder to talk about money matters to their family or loved ones, then it is about any other subject. Money is one of those issues that is hard to talk about, but not for us. Your bookkeeper or accountant is the keeper of your business’ financial statements. You should be able to discuss difficult decisions and business goals with him or her. Those discussions should include both short and long term plans for your business.
WE LOVE MATH Math has always been my favorite subject in school. I love tackling a difficult problem, then using numbers to find the solution. We do the same for our clients. We help our clients fall in love with their numbers, by working with them to help make their business profitable. Your accountant should be doing the same.
There are so many reasons to love your accountant. Do you have a special reason? If so, I want to hear it. In the meantime, love your family, love your work, and love your life. Happy Valentine’s Day everyone!