Gorilla Accounting’s Post

Bookkeepers and accountants share the same long-term goal of helping your business financially thrive, but their roles are distinct. Bookkeepers focus more on daily responsibilities, like recording transactions, while accountants provide overarching financial advice and tax guidance.

We understand that doing your own accounting can have its benefits - it can be cheaper and let you maintain control. However, there are also risks associated with managing your own finances without the support of experts. This post explores some of the challenges that you may experience, particularly with a growing business. Even if doing your own accounting is well within your capacity, being aware of these challenges will make sure you're at the top of your game! #BusinessAccounting #IpsumAdvisors #SoleTrader

Ever felt like your business finances are a constant headache? 😵💫 You're not alone! Many business owners struggle to balance growth with financial management. But here's the good news: a professional accountant can change the game! From simplifying taxes to maximising your savings, discover the 5 key benefits of hiring an accountant in our blog. 📖 Read more here: https://lnkd.in/gw-eEBgs Your business deserves expert support! 💼 #TaxAccountant #AccountingTips #BusinessFinance #AccountantSydney #BusinessGrowth #FinancialSuccess

📊 Tradies, are you struggling with your business finances? It's time to consider hiring an accountant! 🛠️💼 A skilled accountant can: • Maximise tax deductions • Ensure compliance • Provide strategic financial advice • Save you time and stress Don't let complex finances hold your business back. Invest in an accountant and focus on what you do best — your trade! Want to learn more about how an accountant can boost your tradie business? Give us a call at 0478 628 540. Let's build your financial success together! 💪💰 #TradieAccounting #BusinessGrowth #FinancialSuccess

Back from a couple of weeks holiday, here's a post from the vault until I catch up with some stuff and write some new content! 🏦👇 Are you stuck with a "year end" accountant? This is a real problem if you're a growing business. Meet Jim & Jane - each run a business with approx £300k revenue. 🙋♂️ 𝗬𝗲𝗮𝗿 𝗘𝗻𝗱 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 (𝗝𝗶𝗺) Jim's accounting firm sends his monthly payslips, submits his quarterly VAT returns and prepares his year end accounts & tax return. Jim deals with different people from the accounting firm throughout the year, and he doesn't really hear much from the "lead accountant" until year end accounts time. Jim's primary strength isn't finance - it's being an expert in the service his business delivers. He generally has enough money to pay his tax bills, pay his staff and withdraw dividends. Jim has a nagging feeling that he should have a 𝙢𝙪𝙘𝙝 clearer overview of his business performance and plans for the future as he has big ambitions. 🙋♀️ 𝗣𝗿𝗼𝗮𝗰𝘁𝗶𝘃𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 (𝗝𝗮𝗻𝗲) Jane's accounting firm also handles the compliance stuff (VAT/payroll/company accounts). Jane has one primary contact, who is a chartered accountant and a partner/director in the firm. The partner has taken the time to understand her business and has customised her accounting data specifically for her business, as opposed to using the default "out of the box" configurations. In addition to having budgets and forecasts created, she receives a beautiful monthly report which tracks her key KPIs and gives her a full P&L + balance sheet analysis. The partner joins Jane's monthly board/director meeting as the "finance" side of the business and also provides strategy support and helps troubleshoot wider business problems 💭 𝗖𝗼𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻 If you're a fairly stable business below £250k revenue without plans to scale, you can 𝘱𝘳𝘰𝘣𝘢𝘣𝘭y get away with a year end accountant. If you've got bigger ambitions - be like Jane. Get a proactive accountant who can help- like me! ----- ♻️ Repost if you found this content useful 👍 Like or comment and you'll see my posts more often 💌 DMs open if you want to ask a finance or strategy question

Are you stuck with a "year end" accountant? This is a real problem if you're a growing business. Meet Jim & Jane - each run a business with approx £300k revenue. 🙋♂️ 𝗬𝗲𝗮𝗿 𝗘𝗻𝗱 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 (𝗝𝗶𝗺) Jim's accounting firm sends his monthly payslips, submits his quarterly VAT returns and prepares his year end accounts & tax return. Jim deals with different people from the accounting firm throughout the year, and he doesn't really hear much from the "lead accountant" until year end accounts time. Jim's primary strength isn't finance - it's being an expert in the service his business delivers. He generally has enough money to pay his tax bills, pay his staff and withdraw dividends. Jim has a nagging feeling that he should have a 𝙢𝙪𝙘𝙝 clearer overview of his business performance and plans for the future as he has big ambitions. 🙋♀️ 𝗣𝗿𝗼𝗮𝗰𝘁𝗶𝘃𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 (𝗝𝗮𝗻𝗲) Jane's accounting firm also handles the compliance stuff (VAT/payroll/company accounts). Jane has one primary contact, who is a chartered accountant and a partner/director in the firm. The partner has taken the time to understand her business and has customised her accounting data specifically for her business, as opposed to using the default "out of the box" configurations. In addition to having budgets and forecasts created, she receives a beautiful monthly report which tracks her key KPIs and gives her a full P&L + balance sheet analysis. The partner joins Jane's monthly board/director meeting as the "finance" side of the business and also provides strategy support and helps troubleshoot wider business problems Most accounting firms are not proactive, that's where a Fractional CFO can help fill in the "partner" piece 💭 𝗖𝗼𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻 If you're a fairly stable business below £250k revenue without plans to scale, you can 𝘱𝘳𝘰𝘣𝘢𝘣𝘭y get away with a year end accountant. If not, you need to change. In addition, if you're an accountant and you don't offer Fractional CFO to your clients and would like to offer this - shoot me a DM and let's work together. ----- ♻️ Repost if you found this content useful 👍 Like or comment and you'll see my posts more often

Are you stuck with a "year end" accountant? This is a real problem if you're a growing business. Meet Jim & Jane - each run a business with approx £300k revenue. 🙋♂️ 𝗬𝗲𝗮𝗿 𝗘𝗻𝗱 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 (𝗝𝗶𝗺) Jim's accounting firm sends his monthly payslips, submits his quarterly VAT returns and prepares his year end accounts & tax return. Jim deals with different people from the accounting firm throughout the year, and he doesn't really hear much from the "lead accountant" until year end accounts time. Jim's primary strength isn't finance - it's being an expert in the service his business delivers. He generally has enough money to pay his tax bills, pay his staff and withdraw dividends. Jim has a nagging feeling that he should have a 𝙢𝙪𝙘𝙝 clearer overview of his business performance and plans for the future as he has big ambitions. 🙋♀️ 𝗣𝗿𝗼𝗮𝗰𝘁𝗶𝘃𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 (𝗝𝗮𝗻𝗲) Jane's accounting firm also handles the compliance stuff (VAT/payroll/company accounts). Jane has one primary contact, who is a chartered accountant and a partner/director in the firm. The partner has taken the time to understand her business and has customised her accounting data specifically for her business, as opposed to using the default "out of the box" configurations. In addition to having budgets and forecasts created, she receives a beautiful monthly report which tracks her key KPIs and gives her a full P&L + balance sheet analysis. The partner joins Jane's monthly board/director meeting as the "finance" side of the business and also provides strategy support and helps troubleshoot wider business problems Most accounting firms are not proactive, that's where a Fractional CFO can help fill in the "partner" piece 💭 𝗖𝗼𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻 If you're a fairly stable business below £250k revenue without plans to scale, you can 𝘱𝘳𝘰𝘣𝘢𝘣𝘭y get away with a year end accountant. If not, you need to change. In addition, if you're an accountant and you don't offer Fractional CFO to your clients and would like to offer this - shoot me a DM and let's work together. ----- ♻️ Repost if you found this content useful 👍 Like or comment and you'll see my posts more often

Accounting is demanding. The endless invoicing and financial reports can drain all your energy. I've seen talented accountants burn out. But the best accountants don’t just get lost in the daily grind. They find a way to balance routine tasks with high-impact work. The accountants who thrive are the ones who take time to understand their clients' businesses. They provide valuable advice and use their skills to make real improvements. They analyze past data to find ways to optimize. They meet with clients to learn about their changing needs. They look for opportunities where accounting can add strategic value. They know how to stay engaged and make a real impact. If you’re an accountant feeling burned out, take a moment to reflect on how you’re spending your time. Are you using all your skills, or are you getting stuck on routine tasks? Make an effort to focus on higher-level advisory work. Delegate routine tasks to your team, or use automation tools to streamline your workflow. Find ways to use your expertise to bring more value to your clients. Your clients will appreciate it, and so will you.

The 5 big challenges of managing your own accounts & how you can avoid them Click the link #businessadvice #SmallBusiness #accounting