7 Ways Our Accountants Go Beyond the Numbers
For many, the relationship with their accountant is a once-a-year event, centered around gathering financial records and meeting a looming tax deadline. They are often seen as financial historians, documenting what has already happened. But what if your accountant could be more than a historian? What if they were your financial co-pilot, helping you navigate the future? In today’s competitive landscape, powered by smart technology, the role of the accountant has evolved from a compliance-keeper to a strategic partner. The real value isn’t just in filing the numbers correctly; it’s in using those numbers to write a better story for your business. If your financial pro is only looking in the rearview mirror, you’re missing out. Here are seven ways our accountants go beyond the numbers to help you thrive. 1. They Become a Strategic Tax Planner, Not Just a Filer Instead of just calculating your tax bill based on last year’s earnings, our accountants help you legally minimize it for the coming year. They don’t wait until April. They meet with you quarterly to project your income and tax liability, advising on strategic decisions like when to purchase equipment for depreciation deductions, how to structure your business (e.g., sole proprietor vs. S-corp), and the best way to contribute to retirement accounts to lower your taxable income. The result is no more surprise tax bills and a year-round strategy to keep more of your hard-earned money. 2. They Act as a Cash Flow Forecaster, Not Just a Bookkeeper More than just categorizing past expenses, our accountants help you predict and manage the flow of money in and out of your business. They help you build a cash flow forecast that anticipates slow months, plans for large expenses, and identifies when you might have a surplus to reinvest. They help you understand your “burn rate” and financial “runway,” so you can make decisions with confidence, knowing you have the cash to cover payroll, invest in a new tool, or survive a dip in sales. 3. They Serve as a Tech Stack Advisor More than just working with the numbers you provide, our accountants help you build an efficient system to gather those numbers. They can recommend and help integrate modern software for invoicing, expense tracking, and payment processing—tools that connect seamlessly to eliminate manual work. They advise on platforms that automate data entry and provide real-time financial dashboards, saving you countless hours and reducing human error. “Implementing Fynlo’s automated invoicing system cut our admin time by 70%.” — Marco P., Freelance Designer. 4. They Function as a Pricing & Profitability Coach Rather than just reporting your overall profit, our accountants help you understand what is truly making you profitable. They help you analyze the profitability of different services, projects, or products. For a freelancer, they can help calculate a target billable rate based on your income goals and overhead. For a small business, they can identify which offerings have the best margins, allowing you to confidently set your prices and focus on your most rewarding work. 5. They Are Your Growth Strategist for Big Decisions Beyond simply preparing financial statements, our accountants help you use those statements to make your next big move. They act as a sounding board for major business decisions. Should you hire your first employee? Can you afford to lease office space? Is now the right time to take out a loan for new equipment? They can model the financial impact of these scenarios, so you can see the potential outcomes and make critical business decisions based on data, not just a gut feeling. 6. They Help You Track Key Performance Indicators (KPIs) More than just delivering a standard Profit & Loss, our accountants help you identify the specific metrics that drive your business’s success. They work with you to define and track 3-5 crucial KPIs beyond just revenue. This could be Customer Acquisition Cost (CAC), Lifetime Value (LTV), or Gross Profit Margin per project. By helping you set up dashboards to monitor these metrics, they provide clarity on the true health of your business so you can focus your efforts on activities that actually move the needle. 7. They Act as Your Financial Risk Manager Instead of just ensuring past compliance, our accountants help you prepare for future uncertainties. They analyze your financial dependencies. Are you too reliant on a single large client? Is your overhead too high for your revenue stream? They advise on building a cash reserve (an emergency fund) and ensuring you have the right business insurance, making your business more resilient and better prepared to weather unexpected economic shifts. The Technology Enabler At Fynlo, our cutting‑edge technology underpins every service we offer, turning complex data into clear, real‑time insights. Our platform consolidates your transactions automatically, organizes them into meaningful categories, and generates up‑to‑the‑minute dashboards that spotlight cash flow trends, expense patterns, and profitability forecasts—no manual uploads required. Behind the scenes, our reliable IT infrastructure guarantees your data is safe, accurate, and accessible around the clock. This seamless system frees our accountants from repetitive tasks so they can focus on delivering strategic guidance. Whether you need a quick snapshot of your current cash position or an in‑depth analysis of future financial scenarios, Fynlo’s technology makes it possible—and simple. Your Partner in Growth Your relationship with your accountant shouldn’t be a source of stress, but a source of strength. They should be one of the most valuable partners on your journey, providing not just data, but direction. Take a look at the list above. Is your financial pro helping you look to the future, or are they just documenting the past? To make strategic decisions, you need financial clarity at your fingertips. Schedule a free consultation call with us today, and discover how Fynlo’s intuitive platform and expert accountants can transform your financial management.
9 Reasons Clients Switch to Fynlo for Accounting Services
Choosing an accounting partner is one of the most critical decisions a business owner can make. The right firm doesn’t just crunch numbers; it acts as a strategic partner, offering insights that fuel growth and provide peace of mind. A recent poll of more than 1,000 small business owners found that 86% see their accountant as a trusted advisor, showing just how much this relationship matters. Too often, however, we hear from new clients who felt their previous accountant was reactive, distant, or simply not invested in their success. Their relationship was transactional, not transformational. If you’re wondering whether your current accounting service is truly serving your business, you’re not alone. Here are nine of the most common reasons business owners make the switch to Fynlo. 1. We Don’t Just Report on the Past, We Co-author Your Future A common frustration for businesses is receiving year-end financial statements long after the fact, offering a history lesson rather than a strategy guide. At Fynlo, we believe your financials are a roadmap for the future. We move beyond reactive reporting. By leveraging real-time data, we provide forward-looking advice, helping you model different scenarios, forecast cash flow, and make proactive decisions that shape your business’s tomorrow. Our clients switch because they want a partner who looks through the windscreen, not just the rearview mirror. 2. You Get a Dedicated Team that Knows Your Business Are you tired of being passed from pillar to post, having to re-explain your business to a new face every few months? High staff turnover at traditional firms can leave you feeling like just another number. Fynlo is built on relationships. When you join us, you’re assigned a dedicated team that invests time to understand the nuances of your business, your industry, and your personal goals. This consistency means you always have a contact who knows your story inside and out, providing tailored advice without the endless repetition. 3. Clear, Upfront Pricing with No Surprise Bills One of the biggest anxieties in professional services is the mystery invoice. You hesitate to pick up the phone for a quick question, fearing a shockingly high bill for “time spent.” We’ve eliminated that fear. Fynlo operates on a fixed-fee model. You choose a monthly package that suits your needs, and that’s what you pay. All our packages include unlimited email and phone support, so you can call on us whenever a question arises without worrying about the clock. Clients switch for the certainty and transparency our pricing provides. 4. We Speak Your Language, Not Accounting Jargon EBITDA, GAAP, accruals, depreciation… while these terms are second nature to accountants, they can create a barrier for business owners. Our philosophy is simple: clarity is kindness. We pride ourselves on translating complex financial concepts into plain English and actionable advice. We ensure you understand the “what,” the “why,” and the “what’s next” behind your numbers. Clients switch to Fynlo because they want conversations, not lectures. 5. Seamless, Cloud-Based Technology In today’s fast-paced world, relying on spreadsheets, emails, and shoeboxes of receipts is inefficient and risky. If your accountant isn’t embracing modern technology, your business is being held back. Fynlo is a digital-first firm. We build your accounting ecosystem around powerful cloud platforms like Xero and QuickBooks, integrating apps that automate data entry, streamline payroll, and give you 24/7 access to your financial position from any device. New clients often tell us the efficiency gains from our tech stack alone were a revolutionary change. 6. Proactive Tax Planning All Year Round Did your last tax conversation happen a frantic few weeks before the filing deadline? Reactive tax preparation often means missed opportunities. At Fynlo, tax planning is a year-round strategy, not a last-minute scramble. We continuously monitor your performance and meet with you throughout the year to implement strategies that legally and ethically minimise your tax liability. Clients switch to us when they realise they should be saving on tax, not just filing it. 7. Dedicated Onboarding & Ongoing Training Switching accountants can be daunting if you fear a lengthy setup or a steep learning curve. At Fynlo, we guide you through a tailored onboarding process, importing past data, configuring your chart of accounts, and training your team on best practices. And we don’t stop there. We provide ongoing workshops and refreshers whenever you adopt a new tool or face a regulatory change. Clients switch to us because they know they will always have the support and training needed to use their financial systems with confidence. 8. Faster Response Times Few things are more frustrating than sending an urgent financial query into a black hole and then being met with radio silence. When you need information to close a deal or make a crucial spending decision, time is of the essence. We guarantee prompt communication. Our internal service standards ensure your questions are acknowledged quickly and answered thoroughly within a reasonable, agreed-upon timeframe. Clients switch to Fynlo because they feel seen, heard, and respected. 9. We’re Genuinely Invested in Your Growth Does your accountant celebrate your wins? Do they actively bring you ideas to improve your business? This is the Fynlo difference. We view ourselves as an extension of your team. Your growth is our growth. We take immense pride in helping our clients secure funding, expand their operations, and achieve their personal financial goals. People switch to Fynlo because they want more than an accountant; they want a champion in their corner. Ready for a different kind of accounting relationship? If these points resonate with you, it might be time for a change. Contact us today for a free consultation and discover how a proactive, strategic partnership with Fynlo can transform your business. Take charge of your numbers. Partner with Fynlo now.
The Pros and Cons of In-House vs. Outsourced Accounting
If you’re running a small business, you probably started out as your own “Chief Everything Officer.” That includes being the lead, and only, member of your accounting department. Late nights with spreadsheets and a shoebox full of receipts are a rite of passage for many entrepreneurs. But as your business grows, that system starts to break. The bookkeeping takes more and more of your time, tax questions become more complex, and you start to worry about what you might be missing. You’ve reached a financial crossroads: is it time to hire someone in-house, or should you outsource your accounting to an external firm? This is a major decision, and there’s no single right answer. It’s about understanding your needs, your budget, and what you want your role in the business to be. Let’s break down the pros and cons of each path. Table of Contents The In-House Route This typically means hiring a part-time bookkeeper or a full-time staff accountant. This person is your employee, working within your company on a daily basis. Pros of In-House Accounting: Cons of In-House Accounting: The Outsourced Path Outsourcing means partnering with an external firm (like Fynlo!) that handles your accounting needs remotely. You pay a monthly fee for their services. Pros of Outsourced Accounting: Cons of Outsourced Accounting: Finding the Right Fit: The partnership is crucial. You need to find a firm that understands your industry, communicates well, and feels like a genuine part of your team. TL;DR Comparison: In-House vs. Outsourced For a quick overview, here’s how the two options stack up against each other. Factor In-House Accounting Outsourced Accounting Cost High: Full-time salary + benefits + taxes + software (often $90,000+ total). Flexible: Predictable monthly fee, often a fraction of a salary. Pay only for what you need. Expertise Limited: Expertise is confined to the knowledge of one or two individuals. Broad: Access to a diverse team of specialists (tax, bookkeeping, strategy, etc.). Scalability Difficult: Scaling requires a lengthy and expensive hiring process. Easy: Services can be scaled up or down quickly as your business needs change. Control & Access High: Direct, daily management and immediate on-site access. Structured: Access is through scheduled calls and email. Less direct daily oversight. Response Time Immediate: on-demand support and instant adjustments. Defined: typically within agreed SLA, often same or next business day, and prioritised by urgency. Time Investment High: Requires time for hiring, training, and ongoing management. Low: The firm manages its own team and technology, freeing up your time. Continuity Risky: Operations can halt if your employee leaves or is unavailable. Reliable: Service is uninterrupted by vacations or personnel changes due to team structure. Best For Businesses valuing oversight, data security, and stable finances Businesses seeking cost savings, scalable solutions, and specialized expertise. Which Path is Right for You? The truth is, the best choice depends on your stage of growth. Ultimately, the goal is to get timely, accurate financial information that empowers you to make smart decisions, without draining your time or your bank account. The right solution shouldn’t just do your books; it should give you peace of mind and the freedom to focus on leading your business. Whether you’re considering bringing someone in-house or tapping into outsourced expertise, Fynlo’s advisors can help you weigh the options and find the best fit for your budget and growth plans. Schedule a free consultation today, and let us guide you toward the solution that frees you to focus on what you do best. You may also like these articles:
17 Accounting Myths You Probably Still Believe (Debunked)
Most of us dive into freelancing or small-business ownership for the work itself—designing, consulting, baking. The last thing we signed up for was bookkeeping. Yet every conversation comes with unsolicited “advice” from well-meaning friends or relatives: “Just write off everything!” or “You don’t need records—just save your bank statements.” Those myths don’t just create unnecessary stress—33% of small-business owners report they regularly lose sleep over money worries—and they can cost you real dollars if left unchecked. We didn’t get into business to become accountants, so it’s easy to fall for these misconceptions. Let’s debunk these myths and give you the clarity to manage your finances confidently. Myth 1: Accounting is only for tax season. Reality: Accounting is a year-round activity that gives you a real-time pulse on your business’s health. Why It Matters: Scrambling for records in March or April creates stress, missed deductions, and rushed decisions. Reviewing your books monthly, or even weekly, lets you spot small issues, improve cash flow, and cut costs before they spiral out of control. Myth 2: I’m too small to need formal accounting software. Reality: Spreadsheets are prone to errors and can’t scale with your business. In fact, research indicates that up to 88% of spreadsheets contain significant mistakes. Why It Matters: I’ve been there. My first year I tracked everything in a spreadsheet. A single misplaced formula almost cost me $500 in underreported income. Modern cloud software is affordable, automates data entry, and lets you connect your bank feed, so you save hours and get a clearer financial picture. Myth 3: I can write off 100% of my home-office costs. Reality: You can only deduct the portion of your home used exclusively and regularly for business. Why It Matters: Over-claiming this deduction is a classic IRS red flag. You can choose the simplified method (up to $1,500) or the actual-cost method (allocating mortgage, utilities, insurance). Use whichever yields the bigger benefit, but only for truly dedicated office space. Myth 4: A business credit card can replace a business bank account. Reality: A credit card lets you borrow money, while a bank account is where your business’s cash actually lives. You need both, but a separate business bank account is especially important to manage funds properly. Why It Matters: Mixing personal and business money in one account can strip away your LLC’s liability protection, exposing your personal assets if things go wrong. It also turns bookkeeping and tax preparation into a tangled mess. A dedicated business bank account keeps your finances clear, simplifies reconciliations, and ensures your legal and financial records stay rock solid. Myth 5: I don’t need to save receipts if I have a bank statement. Reality: The IRS requires proof of purchase, and bank statements alone don’t show what you actually bought Why It Matters: Picture an auditor asking what a $200 Amazon charge covered. A bank statement alone won’t prove it was for a printer rather than a TV. Instead, digitize and tag every expense as it happens using receipt-capture apps like Dext or QuickBooks Snap. Myth 6: Profit is the same as cash flow. Reality: Your profit on paper may look healthy, but cash flow measures the actual dollars in your account that keep your business running. It’s a crucial difference, and an Intuit study found that 61% of small-business owners struggle with cash-flow issues. Why It Matters: Your Income Statement can show a big profit, but if clients haven’t paid, you can’t pay your bills. This is the single most critical survival concept. Myth 7: I can pay myself whatever’s left in the business account. Reality: You must set aside money for taxes and business savings before paying yourself. Why It Matters: Following Mike Michalowicz’s “Profit First” principle means you allocate percentages to tax and profit accounts before paying yourself. This approach prevents the panic of facing a large tax bill with no funds set aside. Myth 8: Bartering (trading services) isn’t taxable. Reality: The fair market value of services received in a trade counts as taxable income. Why It Matters: If a web designer trades $2,000 of work for $2,000 of photography, each party must report $2,000 of income. Don’t let “free” trades cost you in unreported revenue. Myth 9: An accountant is too expensive for my small business. Reality: A good accountant saves you more money than they cost. Why It Matters: They prevent mistakes, uncover deductions, and save you hours of work. For example, a $2,000 annual fee is repaid when you reclaim just 40 hours of time—hours you can spend on billable work or growing your business. This makes an accountant an investment, not an expense. Myth 10: My bookkeeper and my tax preparer are the same thing. Reality: Bookkeeping is daily transaction recording, while tax preparation is annual return filing. Why It Matters: Clean, year-round books speed up tax season and reduce preparation costs because your accountant can work directly with accurate, organized records. Myth 11: I can deduct the cost of my commute to my office or co-working space. Reality: Commutes from home to your primary workplace are non-deductible, but you can deduct business trips beyond that, such as driving to client meetings. Why It Matters: Misclassifying personal travel as business mileage invites audit scrutiny. Only log miles driven for business purposes beyond your usual commute. Myth 12: Estimated taxes are optional. Reality: If you expect to owe more than $1,000 in tax, you must pay quarterly estimated taxes. Why It Matters: The U.S. is a “pay-as-you-go” system. Missing estimated payments triggers underpayment penalties—just like an employee missing withholding. Myth 13: Putting ‘LLC’ after my name protects me from everything. Reality: An LLC shields personal assets from business debt, but it doesn’t protect you from professional negligence or from commingling personal and business funds. Why It Matters: If a client sues over an error or omission, your LLC structure will not prevent a negligence claim and your personal assets could still be at risk. Beyond separating business and personal finances,
What Does an Accountant Actually Do? (Explained Simply)
For many small business owners and freelancers, the word “accountant” might conjure images of stern figures buried under piles of receipts, or perhaps someone who just “does taxes.” While tax preparation is certainly a big part of what they do, the reality is that the role of an accountant is far more diverse, dynamic, and crucial to the health of any business, big or small. So, what exactly does an accountant do? Let’s break down their essential functions, explaining simply how they help businesses and individuals navigate the world of finance. Think of an accountant as your financial navigator, helping you understand where your money is, where it’s going, and how to get it where you want it to be. Their responsibilities typically fall into several key areas: 1. Bookkeeping & Record Keeping At the foundation of all accounting is accurate record-keeping. While an accountant might not always handle the day-to-day data entry (that’s often the bookkeeper’s role), they oversee this process to ensure all financial transactions are correctly recorded. This includes: Without meticulous record-keeping, it’s impossible to know the true financial picture of a business. In fact, while 72% of business owners handle their own accounting tasks—from basic bookkeeping to filing taxes—a striking 60% admit they don’t feel knowledgeable about finances and accounting. 2. Financial Reporting & Analysis Once the data is accurately recorded, an accountant transforms raw numbers into meaningful insights. This involves preparing and analyzing key financial statements: Beyond just preparing these, a good accountant will analyze them to spot trends, identify areas for improvement (like cutting unnecessary expenses), and help you make informed business decisions. For instance, they might point out that while you’re profitable on paper, your cash flow is tight, prompting a review of payment terms. This insight is critical, as poor cash flow management is a leading cause of small business failure. Indeed, 60% of small business owners have grappled with cash flow issues in the past year alone. 3. Compliance & Planning for Tax Season Yes, taxes are a major component, but it’s more than just filling out forms. Accountants are experts in tax law and help ensure you comply with all federal, state, and local regulations, avoiding penalties. This includes: Handling Audits: Should the IRS come knocking, an accountant can represent you and expertly guide you through the audit process. While the overall audit rate for individual taxpayers is low, at about 0.44% in 2023, corporate returns face a higher audit rate of 0.74%. 4. Advisory Services Many accountants go beyond historical reporting and become trusted business advisors. They use financial data to help you make forward-looking strategic decisions, such as: Budgeting & Forecasting: Helping you create realistic budgets and financial forecasts to plan for future growth, expenses, and cash needs. Business Planning: Assisting with financial projections for loan applications, investor pitches, or expanding your operations. Pricing Strategies: Analyzing your costs to help you set profitable prices for your products or services. Software Integration & Optimization: Recommending and helping implement accounting software solutions that streamline your financial processes. Risk Management: Identifying potential financial risks and advising on ways to mitigate them. Why Do Freelancers and Small Businesses Need Accountants? While you might start by handling your own finances, as your business grows, the complexity increases. An accountant becomes invaluable for: In essence, an accountant is not just a number cruncher; they are a vital partner who provides clarity, ensures compliance, and offers strategic insights to help your business thrive. Ready to streamline your financial operations or need expert guidance? Whether you’re a budding freelancer or a growing small business, understanding your numbers is key to success. Schedule a call with us today to learn how our solutions can empower your financial management. Further Reading
10 Signs of a Bad Bookkeeper to Absolutely Avoid
Whether you’re a startup or a growing small business, knowing your financial status is key to keeping your business on track. Whether you work with bookkeeping software that offers support, a part-time bookkeeper, or external accountants, it’s crucial to ensure they are doing their job properly, making your life easier, not harder. Good bookkeepers are your financial peace of mind, keeping things organized and making sure you are compliant. But bad ones can drain your profits and intensify your tax nightmares. Is your bookkeeper the right fit? Read on for 10 troubling signs that it may be time to find a new bookkeeping solution. 10 signs of a Bad Bookkeeper Why Fynlo is a Trusted Solution If you’ve recognized one (or more) of the signs of a bad bookkeeper in your current service, it’s time to consider a reliable alternative. At Fynlo, we understand the challenges of financial management firsthand. That’s why we’ve built an intuitive platform designed to simplify your financial life and put you back in control. Fynlo provides access to seasoned accounting professionals. Our junior accountants bring over five years of experience, while our senior accountants boast more than ten years, most honed at top-tier firms like the Big Four, Baker Tilly, BDO, and Grant Thornton. We also prioritize confidentiality and data security. Every client relationship includes a signed Non-Disclosure Agreement (NDA), so your sensitive financial data is protected at all times. Here’s how Fynlo can benefit your business: Click here to schedule a call with our expert and take the stress out of bookkeeping. Fynlo team can handle everything from categorizing your transactions and reconciling your accounts to delivering precise, tax-ready financial statements.