What would we do without accounting professionals? The first thing that comes to mind is, well, a lot of floundering.
For business owners, accountants help set up financial systems, analyze data, and make smarter business decisions (like using QuickBooks®!). They have the power to forecast business success, diagnose financial health issues, and increase revenue … fast.
But accountants aren’t just for business owners. Accountants offer smart financial advice when it comes to personal finances as well. They carry with them a deep understanding of retirement plans, savings goals, and smart investment options. Accountants can even help negotiate salary and other money discussions.
Perhaps most surprising of all, accountants are in charge of tabulating Oscar ballots and declaring winners. When Leonardo DiCaprio finally snagged an Oscar for his performance in “The Revenant” – an accountant made that happen.
Here at Intuit®, I help tax and accounting professionals understand the power of the QuickBooks ecosystem so they can grow their practices and help their clients succeed. But they’ve taught me so much more in return. In honor of International Accounting Day, here are five reasons Intuit absolutely LOVES accountants.
1. Accountants put their clients first
Accountants put their clients’ success above their own, and this has been especially evident throughout COVID-19. All around the world, accountants worked tirelessly to help small business owners secure the funding they needed to keep their businesses afloat. They helped them understand the ever-changing legislation, and the requirements small business owners had to meet to be eligible for federal loans.
When millions of people were left jobless, accountants stepped up to the plate. They showed their clients how to stretch their savings, decrease their expenses, and maximize their stimulus package. On top of all that, they juggled what we’re all referring to as “the longest tax season ever” for business owners and beyond. That dedication and willingness to put their own success behind that of their clients’ is so inspiring to all of us.
2. Accountants help small businesses grow
Accountants are well known for helping small business owners make excellent decisions when it comes to their business and financial success. Business owners collect a lot of financial and accounting data every single day – accountants help them make sense of it all. Accountants make sure their clients understand the true numbers and the true state of their business, so that business owners can make smarter decisions as they grow.
With smart tools such as the QuickBooks Cash Flow Planner, accountants can forecast future money in and money out, and predict how certain financial decisions (like big purchases or big sales) might impact their clients’ cash flow. Backed with real data, business owners can make more informed decisions about saving, spending, and borrowing money for their business.
3. Accountants are unmatched problem solvers
If I’m stuck in an escape room, I want an accountant on my team. Accountants are expert problem solvers. They’re the fine-print readers, the troubleshooters, and the expert advisors of the world. They thrive on finding solutions. When an accountant doles out advice, you know they haven’t overlooked a single detail.
Accountants help their small business clients find new and better ways to get paid, manage cash flow, handle expenses, and more. They help compulsive spenders consolidate their debts and build a more realistic budget. They build smart systems to remind forgetful clients to pay their bills on time. And they make complicated tax returns seem simple – a true superpower.
4. Accountants embrace technology
Accountants are more than just number crunchers. Thanks to their problem-solving nature, accountants are always on the lookout for new ways to improve processes and make their clients’ lives easier. That means compiling the best tech stacks, testing new technologies, and curating solutions custom picked for their clients. Beyond accounting, accountants are true advisors.
5. Accountants support accountants
When some people think about the accounting community, they might think khaki pants and nerdy glasses. But I’ve spent hours on the dance floor at QuickBooks Connect with accountants … and they can really move in those khakis. The accounting community is the most fun, caring, and supportive community of professionals I have ever encountered. They willingly and openly share their expertise, their knowledge of the accounting profession, and how it’s evolving. They encourage each other to grow and learn, all in the best interest of the business owners, big spenders, and savvy savers of the world.
If you’re an accounting professional, give yourself a pat on the back today. Treat yourself to your favorite coffee, give your fellow accountants a virtual high-five, and know that you’ve made a big, important impact at Intuit and within millions of businesses and families around the world. #IntuitLovesAccts
Editor’s note: This article originally published on Firm of the Future.