Four Important Things That an Accountant Can do

In today’s economy it’s now recognised that supporting small businesses should be encouraged, however the success of these ventures depends largely on the financial situation of the business. Starting up a business is a big step, so it’s understandable that you would want to have complete control over every aspect, but it’s important to recognise that there are professional services on had to help.

Accountants are experts in finance-related procedures and are a great way of ensuring your business is financially sound. If you haven’t already, it could benefit your business to have an accountant on board – this blog will provide a little more insight by explaining three of the important tasks that an accountant can help with.

The start-up process and growth

If you’re trying to come up with a financial business plan for your next venture then an accountant can assess whether your predictions are feasible, or how a new business may pan out in the future. Through insight across your finances they’ll be able to identify areas for growth, areas that can be improved and practical budgets for different areas of your business. It’s also important to build a good reputation for your business, if you’re late paying clients for example this may not bode well in building future relationships.

Help with tax

All small businesses are required to submit a tax return to declare your earnings to HMRC. But when it comes to submitting your tax-related figures, it can be easy to miss out important information unintentionally. An accountant will be able to go through your business with a fine-tooth comb to make sure you’re making full use of your tax allowance and paying what you owe.

Decisions and change

Whether you plan on adding a new service to your business or changing your supplier, every decision you make will affect your business finances. You should never rush ahead with this as something that appears to be a good move may actually have a negative impact on other areas of your business. An accountant will be able to guide you in your financial decisions and provide financial forecasts to help you make an informed decision about where to take your business.


Even a business with a small team of employees needs to have a professional way of organising payroll. When people are off sick, do overtime or have holiday making sure you pay each employee the right amount can get confusing. Not to mention important forms such as P45’s and new starter information that’s needed to enroll someone in your business. By hiring an accountant this can all be covered in a manageable and easy to understand way. If you’re looking for a team of experienced and friendly accountants, then Barron & Co is the Birmingham based firm that can provide just that. With in-depth knowledge and expertise, we can help make a positive difference to your business and reduce the stress of organising your finances. For more information about what we can do to help contact us today for more details