Part 8: How an Accountant Can Help

Whether you’re a startup, a growing business, or a seasoned entrepreneur — your accountant is one of your most important allies.

A great accountant does far more than file tax returns. They help you understand, monitor, and improve both your cash flow and profit — guiding smarter decisions and preventing costly mistakes.

🧾 What a Good Accountant Will Do

✅ 1. Monitor Cash Flow

• Set up regular reports and forecasts

• Track incoming vs outgoing cash

• Help plan for VAT, PAYE, and Corporation Tax

• Spot warning signs of shortfalls early

✅ 2. Analyse Profitability

• Provide monthly or quarterly P&L breakdowns

• Highlight low-margin products or services

• Advise on pricing strategies

• Help cut unnecessary overheads

✅ 3. Offer Strategic Advice

• Explain the financial impact of hiring, investing, or expanding

• Help secure funding or loans by preparing financials

• Support with budgeting and scenario planning

• Introduce tools to streamline financial management

✅ 4. Ensure Compliance

• Submit VAT, PAYE, and CT600 returns on time

• Keep your accounts up to date with HMRC and Companies House

• Advise on allowable expenses, dividends, and directors’ loans

• Stay on top of Making Tax Digital (MTD) rules

🤝 How to Get the Most from Your Accountant

• Communicate regularly — not just at year-end

• Provide information on time (bank statements, invoices, receipts)

• Ask questions — a good accountant will simplify the jargon

• Be open about business changes (e.g. new staff, new locations)

🧠 Bonus Tip

Look for an accountant who uses cloud software (like Xero, QuickBooks or FreeAgent). This allows for real-time collaboration, shared dashboards, and faster answers when you need them.

💬 “Your accountant shouldn’t just count your money — they should help you make more of it.”