Five reasons to get in touch with your accountant on call - The Finance Team

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Five reasons to get in touch with your accountant on call

If there’s something strange in the neighbourhood —

Who you gonna call? Ghostbusters!

If there’s something weird and it don’t look good —

Who you gonna call? Ghostbusters!

 

In the 1980s movie Ghostbusters, residents of New York City take comfort in the fact that they can call the professional ghost handlers if they come across any unusual or paranormal activity. The opening song in what later became a TV show reflects on all the various circumstances in which one might call the parasychologists. For example, “if you’re seeing things running through your head” or if there’s “an invisible man sleeping in your bed”, those might be two reasons to call the ghostbusters.

South African businesses today have their own “ghostbusters” available. They’re not there to root out invisible men from your bed, but certainly when there’s something strange lurking in your books, or something that “don’t look good” with your cash flow, it might be a good time to give your accountant on call a ring.

Here are five reasons to get hold of your accountant on call:

  1. When you’re planning for the year ahead. Get in touch with your accountant on call while you are strategizing about the way forward. He or she could provide valuable insight when conducting your financial strat sessions, mapping out overall company goals and direction, or working on cash flow projections.
  2. When you’re looking for new ways to save costs. Unless your company operates in some sort of extra-terrestrial bubble, you’re going to feel the effects of the current economic climate on your business. You might face over-cautious customers, or clients looking to cut back on non-core services. Either way, you’re going to want to save up a cash reserve for the knocks that have either already come or are likely to be on their way. But how to save money? You might feel like you are just barely keeping the bases covered with your current outlay. An accountant on call, however, is likely to see things from a different perspective. She can look at your income statement with a fresh eye. All of a sudden, you’ll be seeing new, feasible ways to save cash while keeping things running operationally.
  3. When you need to attract new business. Do you have a plan to expand and reach new markets? Are you trying to tap into a different LSM with a new product offering? As you plan to branch out, bring in an accountant on call to guide you along the way. You can come up with the “what” of your expansion plan; your accountant on call can help your come up with the “how”.
  4. When you need to attract new investors. It might be precipitated by expansion plans or merely the need for a cash injection, but if you’re trying to attract cash to your business, it’s time to contact your accountant on call. He can put together a business case for investors, and partner with you as you approach the banks or individuals that are best suited to your business. You can paint the vision of the company; he can answer questions about cash flow and projected profit.
  5. If things aren’t adding up right. This is the ‘ghostbusters’ function of your accountant on call. If things aren’t making sense in your books, or your debits aren’t stacking up against your credits, it’s time to call in your accountant on call. She can scrutinise the books with a professional eye, looking for unscrupulous spending, wrongly assigned expenses, or (heaven forbid) intentional deception or fraud on the part of an employee.

Whether you’re looking to save money, trying to make sense of your books or trying to attract new investors, it’s good to know that there’s a reliable accountant on call in your neighbourhood. Contact The Finance Team to find out more.

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