It doesn’t matter whether you’re doing your own personal accounts, or looking after the finances of a company. An accountant can be a great help, advising you on the best way to keep your books and run them efficiently and effectively.

As a very general overview, accounting services fall into three general categories.  ‘Basic accountancy’ describes the first type, which you may benefit from if you’re looking after personal accounts or you’re involved with a group or society. ’Additional services’ are provided at a second level of expertise, and then ‘specialist accountancy’ – depending on your requirements – is available in a number of commercial areas.

Do it yourself or use an expert?

Many people are happy to keep track of their own finances up to a certain point, but sometimes it’s useful to ask an accountant for their advice. A business can often benefit financially by asking an accountant to simply audit its financial records, prepare financial statements, review tax statements and submit documentation to Her Majesty’s Revenue and Customs, or Companies House. This can often be arranged according to a menu of fees.

Business advice

An accountant can help you to develop a cashflow plan, and offer services including tax planning, growth planning, and general business advice. At this level, you may be looking for help to make your business grow: some accountants will have established relationships with financing resources, banks, and other networks of professionals engaged in providing development services to business owners.

Depending on your type of business, you may want to contact a firm of accountants offering specialist services such as taxation, management or forensic accountancy. 

In every case, your accountant should add value to your business – helping you to understand and reap the benefits of efficiently-run company finances. Having a good working relationship with your accountant is important. Not only can they act as a useful sounding board on important decisions, but you’ll also be trusting them to give professional advice that will shape your business’s financial future.

Use our search tools, shop around, and find accountants offering the services you need in your area. Most will be happy to talk briefly about their services over the phone, and many will be happy to offer other client companies’ details as references. Take them up - it’s a good way to broaden your business network and find out more before engaging your accountant’s services.