When many business owners think about their accountant, they picture someone who files taxes, handles compliance, and maybe helps with payroll. But today’s best accountants offer far more than year-end reporting and they can play a vital role in helping you grow your business. Treating your accountant as part of your strategic team (rather than just a service provider) can lead to better decisions, fewer surprises, and a clearer path toward your goals.
Understanding the story behind the numbers
Good decisions are grounded in good data, but it’s the insights behind the numbers that truly drive success. Your accountant does more than just tally figures, they help interpret the data, uncover trends, and provide a clearer view of your business’s overall performance and potential.
Actions:
- Schedule regular financial review meetings, not just once a year.
- Ask your accountant to explain your profit, cash flow, and margins in plain language.
- Use dashboards or simple reports to track your performance over time.
- Discuss trends in revenue, costs, or client behaviour you might be missing.
- Work together to set meaningful KPIs based on your business goals.
Book a monthly or quarterly meeting with your accountant to go over your management reports. Bring questions, not just receipts.
They help you plan for growth
Growth is exciting but without financial planning, it can be messy, risky, and stressful. Your accountant can help you plan ahead with confidence.
Actions:
- Build forecasts and budgets that reflect your business plans.
- Assess the financial impact of hiring, expanding, or launching new products.
- Identify when you might need funding or credit and plan for it early.
- Stress-test different growth scenarios (best case, worst case, expected case).
- Use their insight to challenge assumptions and avoid over-optimism.
Share your 6-12 month business goals with your accountant and ask for a financial forecast to match. This turns strategy into numbers and action.
Identifying risk before it hits your cash flow
Accountants are skilled at detecting financial patterns and early warning signs that may signal future cash flow issues. By catching these red flags early, they help you take proactive steps to avoid surprises and keep your business on stable financial ground.
Actions:
- Get regular updates on your break-even point and cash runway.
- Ask your accountant to flag unusual spikes or drops in expenses or income.
- Monitor how long clients take to pay and where that puts strain on cash flow.
- Keep an eye on tax obligations and plan for them in advance.
- Review your margins to find hidden leaks or unprofitable products/services.
Ask your accountant to help you create a basic risk dashboard, a simple, visual set of key numbers that highlight potential issues before they escalate. This tool can provide early warnings and support faster, more informed decision-making.
They can strengthen your business structure and systems
Your accountant can help design a business structure and implement systems that improve efficiency, support growth, and safeguard your personal assets. With the right foundation, your business becomes more resilient, scalable, and easier to manage.
Actions:
- Review whether your current legal structure still fits your business size and goals.
- Automate financial systems (like invoicing, payroll, and reporting) to save time.
- Set up proper documentation for loans, investments, or shareholder agreements.
- Improve internal controls to reduce risk and errors.
- Ensure your financial records are always ready for investors, lenders, or a potential sale.
Schedule a “structure and systems” review with your accountant. You may discover simple changes that save you hours and reduce long-term risk.
They bring an external, objective perspective
When you’re in the business day-to-day, it’s hard to stay fully objective. Your accountant brings fresh eyes, logic, and professional detachment to big decisions.
Actions:
- Talk to them before making major purchases, taking on debt, or changing direction.
- Use them as a sounding board when evaluating a business idea or new opportunity.
- Ask for feedback on how you compare to industry benchmarks or peers.
- Involve them in strategic planning sessions alongside other key team members.
- Use their experience with other clients to avoid common mistakes.
Invite your accountant to your next strategic planning or board meeting, even if it’s informal. Their financial perspective can add valuable depth, highlight risks and opportunities, and bring balance to your decision-making process.
Final thoughts
Your accountant isn’t just there to keep the tax office happy, they can be a powerful strategic ally who helps you grow smarter, avoid risk, and get the most out of your business. But they can only do that if you bring them into the conversation early and often. The sooner you involve them in your strategy, the stronger your business foundation will be.
Want to work with an accountant who’s in it for the long haul? Get in touch with us, we’ve worked with a range of talented accountants in our network, and we can connect you with them.