7 Ways an Accountant can Save you Money

“Accounting is not just about counting beans; it’s about making every bean count.” - William Reed

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In today's competitive business world, it is not uncommon for people to do their own bookkeeping and accounting. There are many reasons why this is done - the most common being that you can "save" money doing so. Of course, saving a couple of hundred pounds on retainer fees is an enticing prospect, but there are actually many more ways in which hiring the services of one will help you make money instead. Here are 7 ways an accountant can save you money, and make every penny count:

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1) We Help Free up your Time

When it comes to business, time IS money, so the more time you free up doing your bookkeeping, taxes, and financial statements, the more time you can dedicate to the tasks that will actually generate money for your business.

Not to mention that it will take you a lot longer to do all your finances than a professional anyway. Why would you waste your time when you could be doing what you do best and what you actually enjoy?

Here at Gow and Partners, out team of expert accountants will take the reins and ensure all of your finances are looked after, so you can ensure all of your extra time is yours to do with as you please!

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2) We Help you be More Tax-Efficient

We can help you save money by being more tax-efficient. This means claiming what you can, obtaining loans if you are entitled to financial support, and maximising the tax deductions you are entitled to.

Here at Gow and Partners, we will ensure all tax returns and financial documents are accurately prepared and submitted on time, avoiding penalties and interest charges. Our expertise in financial forecasting and budgeting helps you plan for tax liabilities, ensuring you set aside sufficient funds and avoid last-minute financial stress.

In short, our comprehensive approach to managing your finances, keeping abreast of tax regulations, and strategically planning your financial activities ensures that you remain as tax-efficient as possible, reducing your overall tax burden and enhancing your financial health!

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3) We Help you Avoid Fines and Penalties

You need to file your taxes correctly and you need to do this on time. With legislation changing all the time, this isn't easy, and you could be leaving yourself vulnerable to penalties and charges, simply because you didn't know.

With the help of our expert accountants, you can always be reassured that you're filing on time and that your taxes are correct. You can have peace of mind that you won't get a surprise letter from HMRC and you don't even have to deal with them at all if you don't want to! Just leave that to us.

As well as this, we will help you keep up to date on all the latest changes in the financial world. Check our our regular blog posts for all the latest information!

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4) We can Identify Opportunities for Growth

Not only do we want to help streamline your operations, we also want to help you flourish. At Gow and Partners, we keep your records up-to-date so you will always know the figures of your business. At a glance, you'll be able to see how you're performing, what's coming in and what's going out, and also your liquidity.

There is power in the data! For example, we can help you ascertain how long you could survive if there was a recession, where you can cut down expenses to save money, and where you should be delegating most of your budget if you want to grow.

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5) We can Assist you in Gaining Funding

It takes a lot of time to secure financing from banks and as we said previously, time is money. We can help you secure loans and financing easily from creating a business plan and helping you budget, to applying and assisting you in the loan process.

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6) We can Advise on Investments

If you're interested in investing, an accountant can help you understand different investment options. From stocks and money markets to real estate and investment vehicles, they can show you how you can grow your money and which opportunities are the best for you and your business.

Here at Gow and Partners, we work with a diverse range of businesses ranging from hospitality to construction to E-commerce. As such, our knowledge of these different industries gives us an extra level of understanding of when and where the most beneficial investments should be made. We are always here to listen and give advice, so if you want any more information about how we can help you with investments, give us a call!

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7) We will Offer Invaluable Business Advice

Last but not least, as well as accountancy, we can offer business guidance to help you increase your chances of success. We can help you build a business from the ground up; and can help you with goal setting and planning, budgeting and forecasting, and pricing to increase your profit margin. This isn't even everything that's included in our advisory services so make sure to take advantage of our vast knowledge and expertise.

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"Spend Money to Make Money"

While you can save a couple of hundred pounds doing your own books, you won't save as much with an accountant and you could actually end up losing a lot more. With an accountant on your team, you can save both time and money while having the reassurance and peace of mind that you're making sound business decisions for your future.

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Set Yourself up for Success    

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Did you know that we run the highest rated accountancy firm in Blackburn with Darwen?  

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Book your 30 minute  discovery call  today— enjoy a relaxed, no-obligation chat with one of our qualified accounting advisors. We can assess your situation and determine how to best serve and add value to your business.    

Alternatively, you can  send us a message  with any queries (big or small), and one of our team members will get back to you promptly.

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