Three Things Your Accountant Needs To Know About Your Business

Business Accountant Financial Finances

What Your Accountant Needs to Know

When hiring an accountant, you want to make sure you are hiring someone that you are willing to be fully transparent with. If you aren’t fully open and honest when you communicate with your accountant, there’s no way that your accountant can really help your business thrive.

Here are three things your accountant needs to know about your business:

What Your Cash Flow Situation is Like

Your accountant is not supposed to be consumed by your business, but he or she does need to know how much money you have in the bank. Knowing about your cash reserves will help them figure out where you need to go in order to move forward in your business financially.

Your Relationship History With Money

It’s not about where you are now at the present moment; it’s about where you’ve been. Your accountant needs to know what your history with money is like. Have you been known to obsessively spend money in your business? Do you generally get audited by the IRS? Do you lie on your taxes? Whatever your history is, share it with your accountant. The more you share, the more your accountant can help you.

What Financial Goals You Have

Do you have specific financial goals for your business? Share those goals with your accountant. Sharing these financial goals will help you coordinate better with your accountant in order to realize your goals and help take your business to the next level.

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