Accountants are insanely valuable and versatile professionals. So much so, that it's actually really confusing what the hell an accountants job is and what it isn't. It can feel like the accountant is the Swiss Army knife to any business solution, but that isn't always the case.

 

I want to clarify a couple of things, I have a pretty strong opinion about this. I believe that there are certain things accountants just should not be doing for business owners. We implement these boundaries in our practice, there are just some things we will not do for our client, no matter what they pay us, no matter how much we love them. I'm going to share what those things are and why we avoid them.

 

What you'll hear in this episode:

[1:10] Accountants should be doing certain things for business owners and should not be doing certain other things.

[3:10] If your accountant is holding the checkbook it can turn into a really dangerous financial situation.

[5:00] Protecting yourself against theft and fraud even though the majority of accountants are trustworthy and honest.

[7:15] The Steve Harvey case and the recipe for a potential crime.

[9:16] Payroll: the last thing that accountants should not get involved in if they’re hired as an external party.

[11:30] Summing up the three things you should not hire an external accountant to do

 

* Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon

 

* Related episodes:

216. The Most Undervalued Trait of an Accountant

232. Growing Your Side Hustle with Nick Loper

239. How Do I Break Up With My Accountant?

 

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.