Tuesday, June 19, 2012

Role of Accountant in your small business

 It is very important for you to understand the role accountants play in the success of today’s small business?

Even with the best tax software, without being an expert on accounting, tax, and finance, you need an accountant. A professional accountant is well trained and should be able to help you save money as well as add value to your starting or existing business.

Our Monthly service Charge starts from $85 and which includes the payroll, quarterly tax returns, annual tax return, and tax consultation. Our payroll service includes direct deposit, online access to the payroll records, paystubs as pdf in the email, E-Payment and E-filing the payroll tax and reports, Payroll Audit, and Insurance Audit. When you use our monthly accounting service, $1020 a year will cover all the accounting, Payroll, and year-end corporate tax returns.


If you are not using our monthly service, you will be charged $250 for each consultation by phone, email or in person and $250 for the annual tax return preparation. Most of the business owners contact their accountant at least 4 times a year and which will cost $1000 plus the annual tax return fee and the payroll software charges


If you have not yet set up your business, find out the role accountants play and endeavor to talk to an accountant before you start. All businesses have to produce annual accounts for the tax preparation Most jurisdictions have a threshold or guidelines, for which kind of business qualifies for audit exemption.   Whatever form (Corp, S Corp, LLC) your business is going to take; business accountants can offer you a range of valuable services.


The accountant can advise you on how to start your business.

· What form your business should take — sole trader, partnership, limited liability partnership or limited company.

· The role accountant play involves assisting with your business plan.

· Assist you with the Legal and tax aspects of registering your new small business

· Professional accountants will provide all the accounting and book-keeping expertise you need including :

· The setting-up of manual or computerized book-keeping systems — sales ledger, purchase ledger, cash book, petty cash book, debtors ledger, creditors ledger, fixed-asset register.

· The preparation of financial statements — profit and loss account, balance sheet, cash flow statement and related notes.

· Tax returns and corporation tax, VAT, PAYE, and National Insurance contributions, and income tax for sole traders and partnerships.

· Tax planning — minimizing your tax bill.

They can give you general financial advice.

· This may include recommendations on the financing of your business through overdrafts, loans, leasing, hire purchase, factoring, venture capital (including business angels) or grants.

· They can be instrumental at advising and introducing you to viable sources of finance and also help with drafting and presenting your business case to them.

The role accountants play towards the success of your small business or personal financial planning can only be compared to a doctor-patient relationship.



If you like to start your monthly accounting service from us please give us a call @ 630-663-1500

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