Accounting

Accounting helps you keep track of your business’ expenses and income, as well as forecast how much money you will need in the future, business balancing your bank accounts in a checkbook register or on a spreadsheet, that may work for the beginning, but you will want to find some sort of business accounting software to do the job properly, help you better manage your expenses and income, see who owes you money and see what outstanding accounts payable you have. It can help you determine cash flow, which may help you figure out if you need to apply for a business loan for find investors.

For Public Companies
Accounting for private companies, managing your accounting properly can help you file your taxes correctly each quarter. Having all your information organised by type of expense or income can help you easily match up the expenses on your tax software, or at least make the job easier for your accountant.
You can learn a lot from your company, just from your accounting software:

• Determine what services or products you should increase or decrease, based on Profit and Loss reports.
• Keep to your budget and predict when you will be able to afford large expenses while monitoring Cash Flow.
• Send invoices and get reminders when they are not paid on time.
• See how successful (or not) your company is by looking at the Balance Sheet.
• Manage employee pay records, as well as pay employment taxes.
• Export data for tax filing.
• See what vendors you owe money to and determine when you have the cash to pay them.
• Show potential investors how viable your business is as an investment.
Understand the financial performance and position of my business on a continual basis.
As an accountant, we can help to make sure a business is set up properly as a sole proprietorship, partnership, limited liability corporation, S chapter corporation, etc.
2. An accountant can help make sure a company pays its utility bills on time.
3. An accountant can make sure a company pays its payroll taxes and other governmental obligations when they’re due.
4. An accountant can look ahead and prepare a company to handle upcoming expenses.
5. An accountant can plan ahead so there’s money on hand to pay employees even when cash flow is down.
6. An accountant can help minimize a company’s taxes.
7. An accountant can lay out and advantages and disadvantages of adding or laying off employees.
8. An accountant can help identify which company activities are profitable and which are losing money.
9. An accountant can advise on the wisdom of buying or selling property or assets.
10. An accountant can serve as point person in the event of an audit.
11. An accountant can be a proactive partner in helping grow a business.
In short, accountants can be valuable members of any business operation. More than just “number crunchers,” accountants can provide financial guidance, insights and advice that can help a business grow and prosper.