The importance of a good accountant should not be underestimated for the growth of an SME. Small and medium-sized companies (SMEs) that are starting in business must have good planning and control in legal and financial aspects.
So whether they include an accounting professional in-house or they have an external adviser, this measure will be essential for the business to stay on the right track.
Accounting and bookkeeping services provide information that supports decision-making at any stage the company is in, making its processes more efficient.
It is vital to have the services of a professional in the field since they can become a trusted adviser, as well as being the best ally when it comes to growing the business in a sustained way.
Tips to organise your accounting
From the conception of a company, an accountant is necessary to comply with tax obligations, since if these are not carried out promptly there is a risk of obtaining sanctions from the authorities.
Therefore, an important activity within the accountant’s responsibilities is to present the company’s financial information in the necessary formats so that people, both internal and external to the company, can understand it.
Similarly, to ensure uniformity in these financial reports, accountants must follow certain guidelines to present them to the relevant institutions.
Without the work of an accountant, it is easy for SMEs to make errors or omissions because they do not have full knowledge of tax matters. Therefore, to ensure that your company’s accounting records are in order, make sure your accountant follows these tips:
Keep accurate records
To increase productivity, both your company and the accountant must work with technological tools that facilitate the recording of entries and expenses, this frees up time to focus on other business priorities and avoid human errors that can be costly.
Use electronic accounting software
In addition to being a requirement established in the tax laws, using software allows you to speed up the payment and collection process, as well as the preparation of tax returns and the deduction of expenses.
With this type of tool, it is easier to break down the amounts corresponding to some types of tax, either at the time of a sale or when paying the payroll. Carrying out this step will prevent you from incurring penalties for not making payments on time.
They can be monthly, quarterly or annually, this will depend on the activity of your business. Updating this information will help you make timely decisions.
So, when selecting an accountant for your company, you should consider their professional knowledge and their ability to optimise new technologies, for example, their skill using accounting or electronic invoicing programs.
The world of accounting is constantly evolving due to new regulations, so professionals in the area must know how to handle these tools.
Likewise, if the accountant is external to the company, consider accessibility. Will they be able to meet your requirements and any emergencies.
Remember that hiring an accountant is like choosing a new business partner.