In recent years, the accounting sector has been shaken by many changes: dematerialization, increased competition, and companies’ new expectations. The profession of a commissioned accountant has thus had to reinvent itself to sustain its performance. Here is what is expected from a commissioned accountant.
The Role of Financial Advisor
The commissioned accountant’s role has always been to support business leaders in their company’s financial operations and daily management. Here are some of the duties that are expected of the commissioned accountant when working with a client.
- Advises entrepreneurs on legal status
- Guide managers on social status
- Support managers in optimizing their taxes
- Help in managing the company’s finances
- Ensure accounting management
- Performs contractual audits
This list is far from exhaustive and will be extended according to the needs of the specific business. In addition to these primary duties, accountants are increasingly confronted with the digital economy and information exchange scope. Guarantors of corporate financial information must now educate their customers on the security of financial data and the storage and preservation of accounting documents.
Creation and Implementation of Accounting Systems
To adapt to current technological advances, the commissioned accountant must expand their services and offload all the tedious and time-consuming tasks to bring real added value to their customers.
- Offer advice promptly
- Be proactive in meeting the needs of leaders
- Identify the most suitable accounting and administrative organization for the company
- Set up management tools to facilitate exchanges with its customers
- Respect the formalities linked to the new accounting obligations
- Offer customers the possibility of having reliable tools that comply with the law
The commissioned accountant must keep regularly informed of news related to the accounting industry to protect their clients’ interests. They should also keep themselves upon additional support they can provide clients in addition to accounting. Beyond providing current advice, accountants must now deliver cutting-edge expertise in line with everyday reality. All the more so in this period of crisis and a rapidly changing world, they must position themselves alongside entrepreneurs as partners on whom they can count.
What are the formalities for setting up your accounting firm?
To open your practice, you must first find a room, the best possible location like a city center. You must ensure proper management of your budget to be able to support the office rental and expenses. Joining up makes it easier to manage the firm’s costs incurred at the start of the activity. You can continue your project alone when you have won your customers’ loyalty and acquired the necessary funds.
If you go into business by yourself, you will have more work, but you will have the advantage of being your boss. If you are in a partnership, the work will be shared, but it will be necessary to generate many clients to compensate all the partners.
Whatever your situation, the company’s legal form most suited to the practice of commissioned accountant activity is the limited liability company. This is justified by a more advantageous tax system for this type of business. You can choose to be a generalist or a specialist. The second option will be more suitable if you operate in a big city. On the other hand, in less populated regions, it is better to opt for general practice.
If you have the necessary funds, you can take over a former colleague’s clientele, which will allow you to start your business quickly with immediate financial compensation. On the other hand, if you start your business from scratch, you will have to obtain your first clients. You have several options for finding potential clients.
You can contact large firms and offer work for them as a subcontractor. You can also use platform services connecting experts and business leaders, which quickly generates contacts through networking. You should also think about having your website well referenced with a blog section to promote your expertise.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.