How Could an Accountant Help Your Business?
Every entrepreneur has to keep records of all income and expenses of his company - be it for an overview of the current company status and all business transactions or for the transfer of profits to the tax office.
As a rule, bookkeeping is subject to tax constraints. Care is therefore the top priority.
Tip 1: care is a must
The most important thing is that the bookkeeping is done carefully. The detailed documentation of business transactions is often lost in everyday stress, but it is essential to have a realistic overview of income and taxes at the end of the financial year.
Careful handling - i.e. the complete and clear submission of all documents - is also important for the tax office so that there are no misunderstandings later.
You should pay particular attention to the following:
- The complete documentation of all business transactions. This includes invoices, receipts, incoming and outgoing goods, depreciation, wage payments, loans, insurance and, in the case of cash transactions, a proper cash book.
- The timely submission of the documents (missed appointments may result in a fine from the tax office).
Every entrepreneur should take time at least once a month to work through the documents and, if necessary, pass them on to the accountant or tax advisor. The annual financial statements in particular are subject to deadlines and regulations and should therefore not be submitted too late.
Tip 2: Use the right help
There are different ways of keeping accounts: Either you do it yourself or you pass the task on to an accountant who you hire or outsource. Both variants have advantages and disadvantages.
Accountants cost money, but make a lot of everyday work easier. They have the experience so that there are usually no errors or misunderstandings.
But keeping your own bookkeeping is not difficult either. Smaller companies in particular benefit from accounting software, which today can even be carried out online and cloud-based.
When choosing software, however, self-employed and small business owners should make sure that it fits the company. That means:
- It should fulfill the functions that are important for the company, i.e. fit the industry and the company's internal processes
- Meet the legal requirements
- Be clear so that you can work well with the software (the entrepreneur should determine the bookkeeping and procedure, not the software!)
Tip 3: work for the accountant
Companies that hire an accountant should For him and not against work him. Errors such as the incorrect filing of the documents or the submission of a huge mess of documents lead to delays and, in the worst case, to errors in bookkeeping.
In order for an accountant to work well and correctly, the following procedures should be observed:
- Do not use transparencies or document sleeves: The use of innumerable plastic covers makes the bookkeeper unnecessary work, since he has to take every document out of the cover, label it and put it back into the cover.
- Correctly punch documents, do not staple: Stapled documents are difficult to process, which is why the accountant separates them again. That costs time and nerves unnecessarily. It is best to punch holes in the documents properly and put them in a folder. But be careful: the punch should not remove any important information!
- Presort when stapling: Sorted receipts and documents help the accountant to get a better overview. Even simple pre-sorting, for example according to incoming and outgoing invoices or simply according to the chronological order, saves time.
- Copy thermal paper: Some receipts from gas stations or restaurants are printed on thermal paper. This fades over time, making the data illegible. Receipts on thermal paper should therefore be copied onto normal paper.
A fixed date on which the documents are passed on to the bookkeeping department also helps - for yourself, because you know exactly by when the task has to be completed, and for the accountant, because he can better plan his daily work.
from entrepreneur manual
This specialist magazine is aimed at small and medium-sized companies, the self-employed and start-ups who do not have a specialist department for every topic. There are practical tips on corporate management that can be implemented independently.
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