New legislation in New Zealand is poised to make life easier on small business accountants and small business owners alike. The relationship between those two groups has always been a difficult one, with business owners struggling to see the value in retaining accountants to handle tasks that they may be able to do on their own. However, historically strict reporting requirements by the government has dictated that accountants ‘jump through the hoops’ to comply with the law even when it is not helping the business and is leading to countless hours of duplicated work.
Among other things, what this new finance law promises to do is set aside various ‘carve-outs’ for entities such as small businesses, small charities, and other organizations. This means that the old one-size-fits-all approach to financial reporting compliance will go out the door. Large corporations have very little in common with small businesses – but until now they have had the same requirements to comply with reporting law. Small business accountants are certainly grateful for this change, as it has the potential to greatly streamline what they can provide to small businesses when technology is leveraged.
Using so-called ‘cloud’ computing services, small business owners and small business accountants can now be on the same page at the same time, even if they are not physically in the same location. What this means is accountants will have the ability to view live data and offer more consulting and analytical services to business owners, rather than just spending their time preparing forms to submit to the government. When an accountant can take on a more advisory role, the value of their time and service is much easier for a small business owner to understand and appreciate. This could mean more employment opportunities within small businesses on a more regular basis.
Talented small business accountants all across the country can be located quickly and easily using GoodAccountants.com. Having a long-term working relationship with an accountant is one of the best intangible assets a business can have, especially in this technological age where so much more information can be shared with the push of a button. Find your own ideal accountant today and see what opportunities open up for your business.