Additional Accountancy Services

If you think an accountant can only help you with taxes and balancing your books, then you might want to reconsider that thought. Accountant services can handle any kind of financial transaction for which you need assistance, with some of these additional services making up part of a bigger need for the services of an accountant.

What kind of additional services would require an accountant?

Think about that for a minute. If you are self-employed or your company doesn't have a retirement plan, you may want to open one for yourself. Without the services of an accountant in both setting up and managing your retirement account, you may not be knowledgeable enough in the area to know what the best type of account is for you. With the services of a personal or business accountant, he or she is in a position to know what the market trend is and what you need for your particular situation. No two people are alike in their needs, and lacking the services of an accountant or financial advisor, you may find that you have no clue into what type of retirement account you should invest.

Accountants can also be helpful in managing your portfolio. In fact, this is probably one of the most important additional accountant services that your accountant can perform for you. Even if you are investing in stocks and have a broker, your accountant is the best person to manage all your personal accounts and investments. Why is that? Your broker will handle stocks, bonds, securities, and the like, but your accountant can manage the entire scope of your investment portfolio including money market accounts, CDs, and other liquid as well as non-liquid assets. The reason for doing that is so that your accountant also knows your financial position. Without everything in front of them, they don't know what kind of investment you have in other markets, and if you ask them for a statement or your current net worth or projection of future net worth, they have no way to provide that.

Accountant Insurance Policy Purchases

A third area where the additional services of your accountant are quite beneficial is in the purchase of insurance policies. Of course, your accountant is not an insurance agent, and cannot sell you insurance, but he has access to your financial records and can advise you what kind of insurance you need and what kind of limits you should carry. This is also important so that in the event of your death, your next of kin has someplace to go in order to obtain all the information they need to file a claim for the benefits. It prevents a grieving widow, widower, or family member from having to search your entire home for essential records.