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An accountant can be one of your biggest allies in the smooth operation of your small business. Their services streamline complex financial processes and manage the business' fiscal concerns both on a day-to-day and long-term basis. Find out more about three crucial services they provide.

How an Accountant Can Help a Small Business

1. Designing & Overseeing Budgets

Any successful small business needs to operate within the parameters of a detailed budget. If a budget is too general and doesn't include exact profits and losses, the business runs the risk of overspending and not having the funds to pay bills, meet the demands of payroll, or reap any substantial, lasting financial reward. An accountant will design a precise budget for your small business and oversee its implementation and continued accuracy.

2. Handling Payroll

accountantRunning a small business is rigorous, time-consuming work. Hiring an accountant to handle payroll will free up precious time in your daily schedule. It will also ensure that payroll-related tax, insurance, and government forms and records are completed correctly and filed with the appropriate departments and agencies.

3. Grow Your Business

If you’re looking to expand your small business, an accountant will provide guidance that supports the operation's continued growth. Analyzing everything from cash flow to inventory management practices will identify the most appropriate paths toward financially sound progress. An integral part of this process will be creating financial forecasts, which take your goals into account and help you make decisions that develop the business in the most beneficial and responsible ways.

 

Daren Katayama, CPA, is an accountant serving the small businesses of the Kailua-Kona, HI, area. His locally owned and operated firm will help take your company to the highest levels of success with business accounting, consulting, and tax planning and preparation. Call (808) 329-6635 or visit him online to schedule an appointment today.

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