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An accountant takes of many tasks, roles and responsibilities for every business. Having one for both your personal and business finances can be very beneficial but what do they do and can they meet your requirements? Read our blog to find out what accountants do for you.
Roger Hatherall & Co are fully trained accountants, providing a comprehensive service throughout the Bath area. We deliver a wide range of accountancy services.

Financial Advice

One of the biggest benefits of having your own accountant is the role they take up as a financial advisor. Whether you decide to outsource all your accounting or just certain tasks, an accountant s role should always involve advising their clients. You will be advised regarding financial decision making, as well as the best methods to improve your current bookkeeping and accounting processes.

Accountants should also have a very good understanding of the legalities regarding your finances. This means if you ever require advice regarding how much tax you need to pay or the pay of staff members, your accountant will have the legal knowledge of your financial transactions and requirements.

Preparing Tax Returns

Tax returns are a vital part of any business processes. It is important your tax returns always remain accurate and are prepared well in advance. This means they will be submitted on time to avoid fines or queries from the HMRC and if any amendments are needed, you have enough time to make the changes to avoid any errors being within your tax returns.

Tax returns can be difficult to deal with, especially as a business owner who has many other tasks to deal with on a regular basis. Outsourcing to an expert will not only save you money on your tax returns but reduce your stress and worries regarding finances.

Accounting Bath
Accounts Preparation Bath

Record Keeping & Auditing

An accountants role will always involve book and record keeping. This is of massive importance to every business and if you are not record-keeping effectively, it could be hampering your chances of long-term success. Record keeping will involve managing all transaction and finances, ensuring statements comply with laws and regulations.

However, this will also be used to suggest improvements to your business financially and how this can be achieved, based on your previous financial performance and cash flow. Without record keeping, it is difficult to gain a good understanding of where your business is performing well and where financial difficulties are arising.

With regular auditing, this will make sure your finances are managed correctly and there are no errors found within your finances.

Financial Reports

Whether this is for your own personal use or for end of year and end of month financial accounts, reports can be very beneficial. Your accountants should always be able to provide you with financial reports and make sure you have all the information regarding your financial performance.

Financial reports can contain any details and data you need, as well as features such as cash flow forecast. This will help your business plan for budgeting and give you a good idea of the expected future financial performance.

Payroll & Accounts Preparation

Accountants should offer a comprehensive service tailored around the services you need. This means if you require payroll management and accounts preparation for any stakeholders, accountants should always meet your expectations.

Accountants offer a range of different accountancy services, meaning that all business financial processes are managed by them. Regardless of what financial area you are struggling to manage or understanding, this will be within the capabilities of your accountant.