Running your own business means juggling a lot: looking after customers, supporting your team, managing daily tasks, and planning for the future. But one area that’s often overlooked is accounting. And it’s not just about filing your tax return on time. A good accountant should give you the insights, tools, and confidence to help your business succeed.
So, how can you tell if your accountant is doing a good job?
Understanding Where You Are Right Now
To plan well, you first need a clear picture of where you stand today. This is where management accounts come in. They show your profit and loss and your balance sheet, giving you an honest snapshot of your business health. Without this, long-term planning is little more than guesswork.
Planning for Growth and Big Decisions
A good accountant will help you look beyond the next few weeks. Want to hire more staff, open a new site, or increase your own pay? Cashflow forecasts let you explore the “what ifs” and understand the financial impact of your plans. With the right tools, you can make confident decisions about the future of your business.
Cashflow is the Lifeblood Of Your Business
Cashflow is at the heart of every business, whether you’re just starting out or running a major company like BT or M&S. Every business faces cashflow challenges at some point, especially during periods of growth or investment. It’s not something to fear or avoid, but something to learn how to manage well.
Simply knowing when and by how much you might fall short can ease stress and help you act early. Many business owners are surprised by how supportive suppliers or partners can be when they communicate openly and honestly. Good cashflow management is less about perfection and more about awareness and good timing.
Your accountant should help you understand what’s coming in, what’s going out, and when. A rolling cashflow forecast can predict your bank balance over the coming months, helping you plan ahead and avoid surprises.
Your Accountant Should Help You Understand
Most importantly, your accountant should make sure you understand these reports. You should never feel awkward asking questions or asking for things to be explained in plain language. This is your business, and you deserve to know how it’s doing.
An accountant’s role is to support you, not just deliver year-end figures. They should help you estimate tax in real time, set aside money for VAT or corporation tax, and make informed choices that help your business thrive.
Get the Support You Deserve
At Insight Finance Solutions Ltd, we’re here to help you do just that. We make the numbers make sense, so you can feel in control and ready for what’s next. As a Xero Silver Partner, we can also offer our clients a 20% saving on Xero, making managing your accounts even simpler.
If you’re ready to feel more confident about your business finances, get in touch today. We’re here to help you take the stress out of your accounts and put you firmly back in control.