Most successful companies benefit from the guidance and wisdom of a chartered accountant.
Chartered accountants provide financial expertise
and can help you
Chartered accountants will often specialise in a specific field to include auditing and management through to various public sector services.
A UK based chartered accountant will have undertaken years of accredited training and be a member of an institute, typically the Institute of Chartered Accountants of Scotland, or The Institute of Chartered Accountants in England and Wales. These world-renowned institutions require its members to maintain the highest levels of professional integrity and financial and business competence.
The relationship between your chartered accountant and your business is very important and is likely to last a great number of years, and so our advice is to consider choosing a chartered accountant that has experience in your field.
If for example, you are engaged in manufacturing it would make sense to work with a Chartered Accountant who has had experience in manufacturing and industry. The same applies if you are in IT, hotels, retail or agriculture.
With experience in your industry your chartered accountant will be able to give you an additional layer of advice that might help you to develop your business.
You will need to have a great relationship with your chartered accountant so it’s worth taking the time to meet a few of them, whilst setting out your plans and expectations and listening to theirs.
Critically, the information that your newly appointed chartered accountant will give you will only be as good as the information that you give to them.
It is well known that most accountancy software within small and medium sized businesses is not being used as intended and that this can lead to serious errors. And as hard that this may seem, some software, specifically that which is integrated with e commerce will create its own errors. It is therefore essential to learn to use your accountancy software as intended, to spot errors and to be able to deliver data that reflects the actuality of your business.
If you would like to attain a complete understanding of Sage 50, Sage 200 or Xero accountancy software then please contact Business Nirvana.
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