Illinois Accountants

Accountants - While the appeal of using cheap accounting software to save money is great, the benefits of hiring an accountant far exceed the savings that come from typical accounting computer programs. Hiring your own personal accountant can work with you in many different ways including information about getting a bank loan to financing your child’s college fund. But before you hire an accountant, learn these basics of accounting practices and you’ll be sure to get the best company to suit your financial and business needs.

Record Keeping

This job is one of the most common and basics of an accounting service—to keep financial records. Although many business owners keep track of their own daily expenses, an accountant can help to set up a good bookkeeping system for managing your business expenses. With a good accounting/bookkeeping system set into motion, you can easily monitor income, track expenses and better prepare for seasonal taxes.

Business Advice

Because your accountant is knowledgeable about your business expenses, it’s only natural to have them help with your business ventures. Business advisory services include everything from understanding business insurance needs to setting financial goals and productivity. An accounting service that provides business advice can bring a different perspective to your business model.

Tax Advice

Many accounting services provide tax advice and planning services. From calculating your taxable income to complying with local, state and federal tax laws, most accounting services provide tax advice for small and large businesses alike.

Auditing

When banks or other loan firms require a record of your businesses fiscal responsibility, an accountant can help to provide the necessary information on your businesses financial statements.

Choosing an Accountant

One of the best ways to find a good accountant is through references. While a certified public accountant (CPA) is required to pass a two-day nationally standardized test, it doesn’t mean that they have the experience you need for your business. Hire an accounting firm with a long list of past satisfied customers in your area and you can be sure you’re going to get the best accounting company for all of your business needs