Services Offered by Accountants
The Services Offered by Accountants
Most business startups are hard-pressed for cash and when it comes to hiring professional services, they end up trying DIY. One of the major pitfalls for small businesses is failure to rely on professional accounting services. If you are setting a business today or if you are struggling to juggle all the accounting needs, it is important to hire an accountant.
These experts have the prerequisite training and certification to offer a wide range of professional services. Accountants provide various services depending on your unique business needs. According to the U.S Small Business Administration (SBA), most startups fail because they don’t rely on legal and accounting services at the beginning.
To avoid this pitfall, it is important to access some of the main services an accountant offers your business. Take a look:
Accountants Business Startup Services
When staring your own business(starte egen bedrift) or incorporating your business, you need as much professional advice as possible. Your accountant helps you identify the best type of business based on your budget. Your account will help explain the advantage of different business models including sole proprietorship(starte enkeltmannsforetak), limited company, partnerships among others.
Accountants Bookkeeping Service
This is the most important service offered by an accountant for any type of business. Proper bookkeeping determines if your business stays afloat or collapses. An accountant sets up an accounting system for your business and then maintains your books in the best condition. The idea is to determine how well the business is fairing. All incomes and expenses are booked into your books and they also carry out bank reconciliation where necessary.
Accountants Tax Filing and Planning Services
This is another important role your accountant plays at the business. Accountants help you understand any new tax codes and file your returns on time. If there is a tax benefit that your business can claim, your accountant will work this out. The tax expert ensures your business is compliant with IRS regulations. Using these professionals can save you a lot of money through deductible business expenses.
Audits and Reviews by Accountants
Accountants/regnskapsfører kristiansand are important when you want to audit your business. You will also be represented by these experts during periodic audits by IRS or any other authorities. They understand the law and will guide you to ensure your business is not dealt unfair taxes.
There are many other services an accountant offers including payroll management, business plans, costing and budgeting, management consulting, IFA services and so much more. For a successful business, make sure you hire a reputable accountant to work on your finances.