Making the best of it

by mike tombs
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Many people regard paying their accountant as a necessary evil. Simply as something that has to be done, in order to tick the boxes laid out for us by the Government. But what if we change our thinking toward accountancy, what if we embrace something we have to do anyway, and turn it into a benefit, not simply a drain?

We have to, by law, file our end of year accounts with HMRC. Most businesses pay an accountant to do this for them, in order to firstly ensure that it is correct, and also to optimise our tax position. This is known as financial accounting, and is primarily a record-keeping exercise showing what has happened over the previous year. Many people regard this as a tedious exercise which costs them money.

However, if you change your thought process about accounting, it is possible to stop regarding this as a cost, and instead regard it as a benefit. If you use a management accountant you will deal with your accountant throughout the year, possibly even meeting monthly, rather than just being faced with a large bill at the end of the year. Your management accountant will help you to understand how your business is doing while it is actually happening, rather than simply telling you what has happened.

By upgrading your accountancy service from financial accounting to management accounting, you are turning a cost into a benefit. You will have to pay more for management accountancy, but you will gain from it, rather than it simply being a cost. What you will learn from your management accountant will help you to increase your profit and sales, thereby giving you a good ROI on your management accountancy package.

Stop thinking of accountancy costs as a burden and upgrade them to something useful. A management accountant will work with you to improve your business. That is surely worth paying for.

If you want an accountant who does more than simply file your tax return, why not contact TLA Business Services today. We bring our expertise and knowledge to every business that we support. With our hands-on approach to your business, we can help you to grow your business in whatever way you desire. Whether you want to increase profit, or reduce the hours that you work, we can help you to make it happen. Call us now to arrange your meeting, on 01905 21411

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