Whether you're starting or expanding a business, one of the most important decisions you'll make is who will handle your accounting. Accountants provide a valuable service - keeping track of your finances, ensuring you're compliant with tax laws and helping you plan for the future. But with so many options available, how do you choose the right one for your business? 

In this article, we'll discuss some common questions about accountants and offer advice to help you find the best match for your needs.

What are the main types of accountants?

Before choosing an accountant for your business, it's important to understand that different types of accounting services are available. While all accountants undergo the same foundational training, many specialise in niche areas.

Each accountant will offer a unique set of skills and expertise that may be better suited to certain businesses than others. 

Financial Accountant

Financial accountants ensure successful operations by keeping track of every dollar in or out of your business. From preparing investor statements to filing taxes and monitoring profits, their data-driven insights can give an organisation a competitive edge.

Management Accountant

Management accountants help businesses to plan for a strong future by assessing data and providing guidance on long-term planning and potential risks. Their evidence-based reports allow managers to make informed decisions that can shape the direction of their business.

Systems Accountant

Systems accountants scrutinise IT systems to ensure they are performing as intended and work with tech teams to tailor solutions that meet the needs of their organisation. 

Taxation Accountant

Taxation accountants aid businesses in navigating complex taxation issues. They compile essential reports to ensure proper tax declarations and agreements with governmental agencies - taking on a safeguarding role against unexpected financial surprises.

Can all accountants deal with all businesses?

While all accountants can help with the everyday accounting needs of a small business, the reality is that most specialise in certain areas. For example, some can help with GST returns and payroll but may not be comfortable providing advice about business laws or growing your business. 

Not all accountants are created equal, and selecting one with experience in your industry can make a big difference to the success of your business, trust or charity.

Ake Accounting, Whakatane Accountants & Business Advisors

Ake Accounting is a Whakatane-based accounting and business advisory firm. Founded in 2011, we provide comprehensive services to local businesses, trusts, iwis, and non-profits. 

Our team of experienced chartered accountants has expertise covering all areas, such as taxation, financial planning, business planning and consulting. So, we can take care of your day-to-day accounting and help you achieve your long-term goals. We’re also one of the few Maori Land Trust accountants in the region with experience helping iwi/hapu reclaim and manage their ancestral lands.

Supporting Whakatane businesses and community groups for more than a decade, Ake Accounting is the perfect choice for reliable accounting support.

Get in touch today to schedule an appointment.