What is Pro-Active Accounting?

What is Pro-Active Accounting?

Most business owners see accountants as an entity that ensures financial records are accurate, financial and data risks are examined, and taxes are paid correctly and on time.

But there is so much more to it.

Proactive accountants are advisors that watch over your finances to give notice or warning if any problems arise. This sort of insight can keep business owners and their employees out of harm’s way in many situations such as; filing for bankruptcy or potential employee layoffs. 

Pro-active accountants can also see positive insights within your financials that can lead to greater financial performance in the future, if the right actions are taken. 

A pro-active accountant goes the extra mile and provides important insights without being asked.

pexels sora shimazaki 5668770

What makes an accountant a pro-active one?

1. Timing

A pro-active accountant should give you enough time to gather the information they need. This also means that they should be aware of deadlines and take that into account when deciding when they will ask for important pieces of information.

No business owner wants to be hassled with a tax bill just days before it is due. A pro-active accountant will have their end of the work done in order for business owners to have enough time to cover their end without rushing.

2. Communication

When you have an important question regarding your business financials, how often are you waiting weeks to get a response or clear answer from your current accountants?

With a pro-active accountant, communication is a big priority. They want their clients to know that any information they need is available to them at a moment’s notice.

pexels fauxels 3184418

3. Pro-active accounts plan ahead

Your accountant should always be looking forward:

  • Checking what VAT payments will be
  • Checking what your business’ corporation tax will likely turn out to be
  • And other liabilities your business might have to pay out for

If you and your accountant don’t plan ahead, it doesn’t give your business an opportunity to work out the best way to minimise the tax you pay, and where you can streamline your business and its processes. Some of these opportunities include:

  • Pension contributions
  • Capital contributions
  • Or think of things your business could be doing differently

Pro-active accountants work alongside you, not for you

Business owners need accountants who are going to work alongside them and their businesses to help propel their company forward. This can only work if their accountants:

  • Communicate effectively
  • Plan ahead
  • And take their client’s time into account

Meet OutRise: The Pro-Active Accountants

Some accountants charge by the hour, so their clients will be hesitant to ask questions and be pro-active themselves. It really doesn’t encourage the relationship.

We don’t feel that anyone should get charged for any concern they may have.

That’s why at OutRise, we don’t work like that. Our clients are on subscriptions, we don’t charge by the hour, so you can ask as many questions as you like!

Our team works closely with our clients to ensure all financial information is understandable to them and every action we take or suggestion we make, is made with the future success of your business in mind.

Interested in having a pro-active accountant on hand? Book in for a chat with one of our team members

You may also enjoy reading...

extract profits

Extract profits from your limited company using this powerful 3-way tool.

How do you extract profits in the most tax-efficient way? Running a small business is rewarding, but navigating the world of extracting profits tax-efficiently can ...
Growth Shares or share options

Want to keep key people? Growth Shares might be the answer

Growth shares offer a flexible and tax-efficient way to keep your top talent motivated and invested in your company's success. So, if traditional share options ...
Tax Season

Tax Season: Ditch the deadline dash

An inevitable climb, but surely one that can be tackled with grit and determination. There's a secret to making that ascent far less stressful and ...
Service profitability

How to make profitable services focusing on 5 simple steps

How to make profitable services focusing on 5 simple steps. Running a profitable service-based business that runs like clockwork with healthy profit margins can be ...

Make use of our financial tools...

Calculate Business

Calculate Business

Salary and Dividend Combination Tool