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When does Your Small Business Need an Accountant? Hint, when you need to manage Cash flow.

Good decision making is at the heart of a running a successful small business, and for many small business owners, knowing when to level up is what really moves the needle.

Not every small business needs an accountant, however it often comes as a surprise at the ways an accountant can support your business success both in the short and long term.

Successful small business owner talking with his accountant to manage cash flow

When should you GET an accountant for your small business?

Some small businesses bring their accountant on as their virtual CFO. Your accountant meets you regularly to keep the numbers looking healthy. Other small business owners will have a trusted accountant, but contact them on an ad-hoc basis. The rule of thumb is, there is no rule. Just like your small business, everything needs to be tailored to your specific circumstances.


What you want to look out for when finding a small business accountant:

  1. First up, you want an accountant with tax expertise. This is important for your small business to ensure you are applying tax minimising strategies to save costs.

  2. You want an accountant that can provide cost effective bookkeeping that is overseen by a chartered accountant to ensure everything is done correctly with no cost surprises.

  3. Then you want an accountant that can help you apply a successful small business strategy. This includes applying expertise in what other small business owners have done effectively and how you can apply this to your small business for success

  4. You want an accountant that is part of an eco-system of business solutions, including marketing, business development and training support.

  5. You want an accountant that communicates effectively, every time. They are more than your small business accountant. They are an extension of your small business that you can trust, enjoy talking to and walk away feeling organised and ready to thrive.

That's us at Tier Accounting and Business Solutions. And we have a long line of positive testimonials and successful small business case studies to show for it. We enjoy what we do. We have heart in what we do. We find the story in the numbers and are with you every step of the way.

Do now, let's answer the question on when a small business needs an accountant.

A small business owner trying to manage cash l

1. When you are creating a small business plan to SUCCEED

Accountants are really good at creating business plans that help small businesses set financial projections and achieve this through clever small business strategy.

You just need to ensure your accountant is appropriately qualified. Look for chartered accountants that are also Tax Practitioners. This helps with both the forecasting needed as well as the tax minimising strategies when creating a business plan. Rememberm you can create a business plan at different stages of your business. You can be a start up with a new product or you can be established and developing a strategy to go from a small business to a medium sized business.

It's always better to get the right expert advice before making any big decisions.

And this includes knowing the right legal structure. Some small businesses are companies, while others are partnerships or sole traders. It is important to get your business structure right from the outset to ensure you know where you stand from a tax perspective and how your personal assets may be impacted. An qualified chartered accountant can help step you through the options to choose the right one.

2. For doing your taxes

This one may be obvious, but a qualified tax practitioner is worth it. If you have capacity, you can do some of your bookkeeping on things like paying invoices, transactions, chasing debts or payroll. However, when it comes to the bigger tasks, successful small businesses know the value of getting a qualified accountant to do their taxes.


This is because of the specific compliance and terminology used in things like tax returns that the ATO is very strict on. These things can be confusing for small businesses but also, can take a long time to navigate if you are not across the relevant processes and procedures. Accountants can help make sure your legal obligations are met and can apply tax minimising strategies for small businesses.


Accountants provide strategic financial guidance. Good financial decisions are crucial for your small business's success. You need an accountant with expert advice that will help you manage cash flow, optimise profitability, and make data-driven choices for the future.


A good small business accountant will help you get control of your cash flow. When small businesses have unpredictable cash flow, this can have a negative effect on the short and long term health of your business. Accountants can identify areas to improve your financial efficiency and ensure you have the resources you need to keep your operations running smoothly.


Accountant's are the financial mind you need to help you focus on what matters most. Big businesses pay in house accountants to ensure their businesses thrive. Small businesses can opt to have an accounting partner who they can go to for help. Tier Accounting and business solutions is your small business partner.

While a skilled accountant is invaluable, the right accounting software can supercharge your financial management. At Tier Accounting, we recommend user-friendly solutions like Xero that integrate seamlessly with our services. These tools allow you to:

  • Generate insightful business intelligence reports

  • Streamline payroll and inventory management

  • Access your financial data securely from anywhere

  • Minimise data entry errors and save time

Ready to streamline your finances and empower your small business?

Contact Tier Accounting today for a free consultation and discover how our expert team can help you achieve your small business goals.


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