If you are only waiting for reports, you are already behind!

Many entrepreneurs view their accountant merely as “the person who files tax returns.” If your interaction with your accountant ends with, “Are the taxes paid?”, you are running your business blindfolded. An accountant is not just a bookkeeper; they are the financial physician of your business.

Here are 3 critical questions you should demand answers to from your accountant:

1. “What will our Cash Flow look like next month?” — Your accountant should provide not only reports on the past but also projections for the future. Knowing when you might run out of cash can save your business.
2. “Which expenses can we optimize?” — Your accountant should not just record expenses; they should analyze their efficiency. Which area is failing to generate a return?
3. “What are our tax risks?” — Your accountant’s duty is to protect you from penalties. The “we’ll deal with it during an audit” mindset is the biggest enemy of your business. You need proactive information about tax reliefs and potential risks.

Remember: If your accountant doesn’t help you make better decisions, they are not an asset contributing to your profit; they are just a monthly expense.

FGAC Recommendation: We don’t look at reports as mere numbers, but as strategic data that determines the future of your business. If you are unsatisfied with your current accountant, meet with the experts at Finance Group Accounting and Consulting. We are changing the financial language of your business.