You may already be aware that having an accountant on board can help your company keep its finances in order, but did you know that accountants have so much more to offer your business? No matter what industry your company operates in, employing effective accountants can potentially make a world of difference, from helping the company to organize assets to avoiding costly audits or tax errors and much more. If you’re considering employing more accountants or giving your current ones a raise, keep these top benefits in mind and weigh the value that accountants can bring to the table.

Keeping Track of Essential Business Assets May Be Easier

One major benefit of employing Ageras accountants is that your accounting department can help keep track of major business assets to prevent financial headaches. For example, you could ask your accountants to help calculate the expenses of each department and company property and to keep track of cash flow. This means company accountants are essential to maintaining an accurate picture of the company’s current state. If you currently struggle to keep up with the revenue or expenses from each of your business’s main assets, employing more accountants could potentially help solve the problem.

You Can Help Avoid Costly Tax and Bookkeeping Errors

Good accountants can also help your company stay out of sticky tax situations and avoid major or minor bookkeeping mistakes. Having accurate financial records is essential for any company year-round, but is especially critical when tax time rolls around. If you have difficulty doing your business taxes by yourself or are afraid that you won’t understand the tax code and could make serious mistakes, hiring professionals can help provide security and peace of mind. Effective accountants can help any company prevent:

• Over- or under-reporting on tax returns

Missed payments to or from key vendors

• Incorrect invoices

• Incorrect revenue or expense logs

• Budgetary miscalculations

Your Accountant Could Help the Company Plan for a Financially Stable Future

Accountants aren’t just important for maintaining the company’s status quo, but can be key players in planning out the company’s future as well. For example, if your business is hoping to expand in the upcoming years, open new locations, start up expensive new ad campaigns or launch ambitious five- or ten-year plans, knowing the financial feasibility of those plans is critical. Your company’s accountants can help you determine whether your current time frame is realistic, when you may be able to afford to take up different ambitions and what the company may need to change in order to make those future plans a reality.

The Company Will Be Better Informed for Making Critical Purchasing Decisions

Before making a major purchase, you’ll need to check with your accounting department to see whether that purchase would put too much of a strain on your current cash flow. Even if you think your company can afford a new property purchase or round of staff hiring, for example, a savvy accountant may be able to point out potential financial pitfalls that you might not have noticed. Be sure to consult with your team of accountants and financial professionals to be fully informed before making any critical purchasing decisions that could potentially plunge the company into untenable debt. Such purchases might, for instance, include the following common business expenses.

• Commercial properties

• Inventory and merchandise

• Key investments

• New staff salaries

• Current employee raises

• New advertising efforts

Accountants Could Bring Key Technology Skills to the Company

Finally, your accountants could be doing more than crunching numbers – in fact, many accountants today are equipped with highly sought-after technology skills that could be enriching your company in more ways than you realize! Whether or not you screened for tech skills when you hired your current accountants, many in the financial profession today are trained to use the latest software and may even be marketing-savvy. Ask your accountants whether they would be willing to work with:

• Social media

• Accounting and finance software

• HR and booking software

• Investing software

Although you may never have given much thought to your company’s accounting department, the truth is that your accountants could be bringing more value to the business than you realize. From offering up financial skills and technological prowess to preventing bookkeeping errors and much more, effective accountants can help keep any business financially stable. You can use these informative tidbits to help you decide whether bringing more accountants onto your team would be right for your business.