(800) 931-6557
(800) 931-6557
ASP
  • Home
  • Accounting
    • FAQ
  • Recruiting
    • Recruiting Team
    • Recruiting Process
    • Recruiting FAQ
  • Openings
  • Oregon
  • Washington
  • Colorado
  • About
    • Clients
    • Testimonials
    • Diversity, Equity and Inclusion
    • Resources
    • Submit Resume
  • Contact
  • Payments
  • Blog
  • Home
  • Accounting
    • FAQ
  • Recruiting
    • Recruiting Team
    • Recruiting Process
    • Recruiting FAQ
  • Openings
  • Oregon
  • Washington
  • Colorado
  • About
    • Clients
    • Testimonials
    • Diversity, Equity and Inclusion
    • Resources
    • Submit Resume
  • Contact
  • Payments
  • Blog

​In Pursuit of Profit

Read our expert article below or sign up to get articles sent to your inbox.​

11/17/2020

Comments

Is Your Accountant an Advisor?

 
is your accountant an advisor
Today’s business climate requires more skills from your accountant than ever before.
​
In the past, small businesses would typically only employ a bookkeeper to handle their basic finances. As these businesses grew and their financial needs became more sophisticated, they would hire an accountant instead, or retain a CPA to assist with tax matters and assume that was all they needed to succeed. However, transitioning from a bookkeeper to an accountant is only the first step in bringing on the financial personnel that will help fuel your company’s growth.

Successful companies need someone that will not only manage cash flow and provide accurate forecasting and reporting, but also offer sound advice. Having an accountant that can do the job is essential but having an accountant that can act as an advisor can really give you a competitive advantage.

So, how do you know if your accountant is working for you? 

Look for ways that your accountant acts like an advisor – handling your relationship with a consultant-like approach, communicating regularly and proactively, using technology to improve efficiency and accuracy, and billing you for value-added work instead of just busywork.

Communication
During this crisis it has become essential to consult with your accountant more regularly. However, ongoing communication is key for transforming your accountant into an advisor no matter what external factors entail. You should always have access to your accountant when you need him/her, but you should also feel like you can bring ad hoc questions and concerns as they arise.

More frequent communication keeps clients informed and builds trust in the accountant-client relationship. The best accountants know that regular communication also yields better financial results because everyone is better informed, allowing for more strategic decision-making.

Technology
Accountants that are just number crunchers are stuck in the weeds doing manual tasks. However, accountants that are tech savvy and know how to use accounting software can eliminate busy work like data entry, freeing up more time for data analysis and strategic financial planning.

The best accountants have extensive knowledge of popular accounting systems like QuickBooks and can put that knowledge to good use – increasing accuracy and efficiency. Furthermore, use of cloud-based accounting systems allows for a more consultancy-type relationship because more people can get access to real-time data to facilitate better decision-making across the organization.

Use of robotic processes and AI can also provide safeguards against bank reconciliation discrepancies, data errors, and other issues that need to be addressed by an accountant, improving accuracy.

Technology allows accountants to do their best work and frees them up to act as advisors instead of cogs in the machine. Advisor-oriented accountants can make situation-specific recommendations when market disruptions or downturns occur.

Billing
For accountants that bill on an hourly basis, look for ways that your accountant works smarter for you to reduce their fees. The more your accountant uses AI, technology automation, e-documents, and other efficiency-creating processes, the less they will be billing for hourly work that could have been avoided. More efficient work allows your accountant to act more like an advisor than a bookkeeper.

Find out how your accountant measures up with this professional assessment tool: A Simple Accountant Evaluation
​
Comments

    SUBSCRIBE:

    DOWNLOAD:

    The Ultimate New Business Formation Checklist

    DOWNLOAD:

    Accountant Evaluation

    Categories:

    All
    Accountant
    Accounting
    Accounting Systems
    Audit
    Bank Reconciliation
    Benefits
    Bookkeeper
    Bookkeeping
    Brand
    Budgeting
    Business Analysis
    Business Trends
    Cash Flow
    Change Management
    Checklist
    Closing The Books
    Colorado
    Community
    Contracts
    Controller
    Depreciation
    Ecommerce
    Economy
    Finance
    Fraud
    Government
    Hack
    Hiring
    HR
    Infographic
    Internal Controls
    IRS
    Laws
    Leadership
    Legal
    Local Economics
    Manuals
    Market Trends
    News
    Nonprofit
    Online Bookkeeping
    Oregon
    Outsource
    Payroll
    Payroll Taxes
    Planning
    Procedures
    QuickBooks
    Record Keeping
    Recruiting
    Recruiting Market Reports
    Remote Workforce
    Reporting
    Restaurants
    Risk
    Sales Tax
    Scam
    Security
    Small Business
    Social Media
    Software
    Startup
    Statistics
    Strategy
    Taxes
    Technology
    Time Management
    Washington State

    Archives:

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    June 2015
    February 2013
    October 2012
    November 2011
    May 2011



    RSS Feed

Services

Accounting Services
Recruiting Services

​

Company

About
Oregon Team
​Washington Team
Colorado Team
Clients


Support

Contact
CC
FAQ
​Resources
​Blog
​

ASP

Your resource for accounting & recruiting services. Serving Seattle, Bellevue, Redmond, Kirkland, Portland, Beaverton, Hillsboro, Lake Oswego, Denver, Lakewood, Aurora and more.
Contact us today for a free,
no-obligation consultation:
Toll Free (800) 931-6557
WA (425) 492-1901
OR (503) 473-0122
​CO
(720) 572-8211
info@asp-nw.com
© COPYRIGHT ASP - ALL RIGHTS RESERVED 
 A CFO Selections Company
Privacy Policy