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Types of accountants

As a small business, it is highly important to hire a small business accountant to take care of your finances and taxes. In doing so, you are better allocating your time, so you can focus on the growth of your business; and also provides personalised business advice to get you started on developing your business. Before hiring a small business accountant, you should understand the different types of small business accountants, and their various roles. In doing so, you will be able to pick the perfect small business accountant for you! We at M.A.S Partners, a small business accounting firm based in Sydney Zetland, have created a list of accounting roles that you may come across, and the roles that they fulfil.

Tax accountant
Tax accountants, as the name suggests, handle your tax issues. They are responsible for analysing fiscal matters; managing tax statements and returns; as well as provide advice on anything business related. A tax accountant has in-depth knowledge of laws and regulations regarding tax, and helps a small business grow through optimising tax returns. In addition, a tax accountant assists in financial planning, and also helps you understand financial landscape and market trends.

Payroll Accountant
Handling payroll can often be a tedious process. As such, many companies and small businesses hire payroll accountants. They use software to produce paycheques, calculate taxes, handle superannuation plans and contributions and everything involving payrolls. The last thing you want is for your employees to be paid late or incorrectly. For a successful business, your employees are just as important as your customers- and as such, their pay should be a priority.

Bookkeepers are responsible for handling a small business’ ledgers (accounting records). The bookkeeper records transactions that include income and expenses, posting them to different accounts; processes payments; conducts banking activities; creating financial reports; and handles bank statements. Bookkeepers have fairly important responsibilities, and as such, they require a BAS Agent registration, a Certificate IV in bookkeeping and a certificate IV in accounting- to ensure the safety of your business.

Financial consultant
Financial consults are obviously highly skilled in finance, and help small businesses make sound and justified financial decisions. They assess your financial situations- explaining the advantages and disadvantages of various investment strategies; develop financial plans which include short-term and long-term financial goals; monitors financial markets and economic conditions; and offer advice on how to grow your business financially. The presence of a financial consultant may be the difference in a succeeding business and a lacking business. With expert opinion, you are able to make a sounder decision, and be confident with your financial choices.

General Accountant
General accounts essentially handle everything listed previously. We at M.A.S Partners are the leading general small business accountants in Sydney, and handle taxes, payroll, budgeting, lodgements, and offer expert advisory. Through cash flow and KPI analysis, we are able to give you short and long-term goals that will help your business develop. For more information on the services we provide, click here.

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