When thinking of the qualities an accountant needs to have, one obvious requirement comes immediately to mind: good with numbers!
Of course, this isn’t the only strength of a good accountant these days, and what an accountant should know for your SME comes down to much more than mathematics.
Let’s take a closer look. What qualities should an accountant have?
What does an accountant need to know?
Though anybody can call themselves an accountant, somebody who has obtained relevant accountancy qualifications will learn certain vital skills from their studies.
This will encompass a healthy knowledge of law as well as finance, ensuring they have fluency in the legal obligations of company finances.
Besides the concrete qualifications, there are plenty of ‘soft’ skills that serve an accountant well. Such as:
- Interpersonal skills, which serve to put clients at ease despite talking about oft-complex legal and financial frameworks.
- Problem-solving skills, for turning an investigative eye to financial data and working out possible ways to increase profitability, or solving the source of a discrepancy.
- Organisational skills, to prioritise competing tasks and ensuring that time sensitive jobs such as tax returns are not missed.
There are many more qualities a good accountant should have, but these are just some of the common denominators in those who really shine in their field.
What does an accountant do for you?
A chartered accountant can do so much for a business, it’s no wonder that they can be found in every part of the economy and on the boards of many FTSE 100 companies.
In a nutshell, accountants save you time, money, and plenty of headaches. They record and interpret financial data from your company, ensuring you have accurate and up-to-date records.
Though bookkeeping is often the minimum you’d expect – they will also commonly deal with tax and VAT returns, handle your payroll, prepare and submit your statutory accounts, and so much more. Accountants can typically lend a wealth of knowledge and experience to SMEs, too, helping with challenges to cash flow and offering advice.
What should my accountant be doing for me?
Many of the duties listed above will likely come as a given to your accountant, but it’s always best to discuss the opportunities available. Chartered accountants have unrivalled knowledge and expertise when it comes to the various financial tasks within a company, and they may be able to unearth jobs that even you didn’t know you had for them.
At the very least, you can expect an accountant to be keeping records of your financial health and handling your day-to-day financial admin. What they can do for you, however, is so much more.
Let Venn Accounts show you what an accountant can do
We’re a team of chartered accountants, specialising in cloud-based services for SMEs and startups.
Our combined years of knowledge and expertise – combined with our no-nonsense, down-to-earth approach – can help you thrive.
Book a free consultation with one of our senior chartered accountants to discuss your requirements and our services today.