Functions of an Accountant
It is not very easy to run and manage a business. It is the financial matter that contribute to this greatly. Making sure that all the finances are in order will ensure that the business runs smoothly. There are very many things that are being done in this field with a lot of work involves. This is because the business must operate using finances right from the planning stage to the expenditures. This is where you will need an accountant to come in and help you out. There are businesses that employ accountants permanently or even hire them for just a while from accounting companies. The accountants have got a number of roles that they will play. They will just deal with the finances of the company and make sure that they are all in order. The functions of the accountant in your business will be the following.
An accountant will offer you bookkeeping services as one of the field that they deal with most. This includes a number of tasks that will involve the financial matters of the business. Examples of such things include; record keeping of financial transactions of the company, preparation of business financial statements, keeping journals of financial matters, recording sales ledges, dealing with expenditures, keeping track of the incomes and many more. This will allow you to run your business well on a daily basis if you use bookkeeping as a service offered by an accountant. This will help with making sure that all the financial matters of the company are in check.
Another service offered by the accountant will be to work on the payroll if your business. This is a very delicate issue in any business and it needs to be handled with a professional. This is due to the fact that it involves the working staff that are very important to the life of your business in general. You will have to make sure that you take good care of them by paying them. With this they will have to handle the recording the taxes, deductions, wedges etc. In addition to recording the salaries, deduction and bonuses they will also record financial statements, with the payroll taxes and deal with any queries that are along that particular line.
VAT is always something that is very important to any business. An accountant will be the one to do the VAT filling. This is always very complicated in very many ways especially when it comes to determining the needs that are supposed to be paid. It is the role of the accountant to file the files that deal with the VAT and file the returns. It is also their responsibility to advise, negotiating and solving tax issues. This will allow you to know if you are running the business legally in that particular country. VAT is mandatory to any other business and without them the business will not be allowed to run.