Seven Reasons To Work More Closely With Your Accountant
DBASS Blog | May 2022

You’re accountant isn’t just there for accounts. Viewing your accountant as a business advisor, not just a professional trained in traditional accountancy and tax compliance, could boost your company’s bottom line.

Your accountant ideally should act as your partner in business, offering trusted, independent advice when your business needs it most.  An accountant who offers business advisory services should ideally have expertise and experience working across a range of businesses areas and will be able to use this knowledge when preparing recommendations for your business.  They will often have insights into recent trends and will be familiar with any legislative changes which could impact your desired course of action.

Consider talking to your accountant when:

  1. You are planning for growth – a growing business often reaches a point when they need more than an accountant, they need expert business advice delivered in a plain English, no-nonsense manner. Meet with your accountant to discuss your growth plans.

Read about DBASS Business Advisory services.

  1. You think you’re paying too much tax – check with your accountant that you’re making full use of any tax allowances and reliefs you can claim. They can also advise on the most tax efficient structure for your business to help minimise your tax liabilities and ensure full compliance with Revenue.

Read about DBASS Tax Planning services.

  1. You need management advice – when you’re expanding, you need to make sure your business is operating efficiently. Your accountant can produce monthly or quarterly management accounts to help identify any problem areas and can advise on remedial action if required.
  2. You need to raise finance – if you’re looking to restructure an existing debt or apply for finance, speak to your accountant. They will find the best solution without putting your business at risk.
  3. You’re expanding your team – talk to your accountant about payroll regulations and your employer obligations. All employers are now obliged to keep, maintain and produce a Register of Employees. Your accountant can discuss in detail your obligations in this respect to ensure compliance.
  4. You’re thinking of buying or selling a business – an experienced accountant will be able to advise you on getting an accurate business valuation, extracting your money out of the venture or assessing your business options for tax efficiency.

Read about DBASS Tax Planning services.

  1. You’re called up for a Revenue audit – if you are selected for a Revenue audit or investigation your first port of call must be your accountant. A good accountant will be able to support you before, during and after the audit.

Read about how DBASS can support you through the Revenue audit process.

By Sive Dowling

DBASS Chartered Accountants

Disclaimer notice

This article is for discussion purposes only.  For further information on any of the topics covered in this article please contact a DBASS adviser on ph. 01 849 88 00.