An accountant is indispensable when it comes to the financial administration of entrepreneurs and businesses. But what exactly does a bookkeeper do? In this article, we will tell you what tasks an accountant performs, why it is useful to have one and when you need that help as an entrepreneur.
What should you expect from an accountant?
An accountant makes sure your financial records run smoothly, taking a lot of work off your hands. This not only means that your figures are correct, but also that you take advantage of tax benefits and comply with all regulations. A bookkeeper will help you prepare your annual accounts and file tax returns. But a bookkeeper will also help you manage your accounts in an online system. In addition, he or she will think along with you about smart savings, investments and financial strategies that suit your business.
Duties of an accountant
An accountant can do a lot for you, such as:
- Processing invoices and receipts
- Creating and maintaining your records
- Filing VAT returns
- Preparing the annual accounts
- Providing you with tax advice
- Filing the income tax return
- Creating profit and loss accounts
- Managing debtors and creditors
- Advising on cost savings and investments
Benefits of an accountant
An accountant has many advantages:
- Time savings: With it, you no longer have to worry about administration.
- Less chance of errors: A good accountant knows exactly how to do it and prevents blunders.
- Tax benefits: The accountant knows which deductions work for your business.
- More focus on your business: You can concentrate on business instead of accounting.
- Better financial planning: The accountant helps you look ahead and make smart choices.
When do you hire an accountant?
Not every entrepreneur needs an accountant right away. Do you have a small business with few transactions? Then sometimes you can do your administration yourself just fine. But if your business grows, the administration will become increasingly complex. Keeping accounts takes more time and mistakes can have considerable consequences. In that case, it is smart to hire a bookkeeper. This way, you can be sure that everything is in order and avoid unexpected problems.
How to find a good accountant?
A good accountant will ensure that your records run like clockwork and that you maximise your financial benefits. But how do you find the right one? It's not just about price. A reliable accountant understands your business, gives smart advice and prevents you from making mistakes.
There are a number of ways to find the right accountant:
- Ask other entrepreneurs if they can recommend a good accountant.
- Check qualifications and see if the accountant is a member of a recognised professional association such as NOAB or RB.
- Look at an accountant's experience and choose someone who knows your sector well.
- Compare rates by requesting quotes and see which services fit within your budget.
- Read reviews and see experiences of other entrepreneurs to see what to expect.
By following these steps, you increase your chances of finding an accountant who takes care of your administration and really adds value to your business.
What is the cost of an accountant?
What an accountant costs depends on what needs to be done and how complicated your administration is. Here are some guide prices:
- Small business owners and self-employed people: €50 - €150 per month
- SMEs: €150 - €500 per month
- Large companies: €500+ per month
The hourly rate of an accountant is usually between €40 and €100. It depends entirely on experience and specialisation.
Curious about our rates? View here.
When is an accountant not necessary?
In some cases, as an entrepreneur, you can do your accounting yourself without an accountant. This is possible if:
- you have a simple administration, for example as a starting self-employed person with few invoices.
- You are familiar with accounting software and tax regulations.
- you use an online accounting package that already takes care of many tasks automatically for you.
