What does an accountant do?

You have likely heard the phrase ‘speak to an accountant’ more than once in your life, especially if you are involved in business in any way.


But what does an accountant actually do? Before you go and have a chat to one, find out what they actually do for businesses all year round. If you would like to know more, get in contact with Bottom Line Control on (07) 5471 7077 today.

What is an accountant?

An accountant is a qualified professional who analyses, interprets and reports on financial matters for individuals and businesses.

When do you need an accountant?

You need an accountant in a huge array of situations, including starting a new business, buying/selling a business, during tax time and when you require advice on various business situations. This is just the beginning though - it is more when don’t you need an accountant!

What does an accountant do?

So, after all that, what does an accountant actually do?

Tax accounting

A tax accountant is likely someone you have heard of, especially around the 30th of June each year, as they assist with tax returns and taxation compliance throughout the year. Tax accountants must be appropriately qualified and a registered tax agent, so always check first!

Management accounting

A management accountant works within one particular business and offers advice when it comes to transactions, strategy and cash flow, as opposed to working with individual clients.

Business structures

Accountants can assist when starting a business, as well as with restructuring a business once established. From offering advice as to the best commencement structure to assistance with adopting a new structure once your business has outgrown its current setup, an accountant can do it all.

Business compliance

Another service that accountants can provide is business compliance, ensuring your business is ticking all the boxes all year round. This can be super burdensome to complete on your own, especially when you are running a business, so an accountant helps with this load. Compliance services can include quarterly BAS preparation and lodgement, end of year tax, financial reporting, and expert advice catered specifically for your business.

Business Accountant

Self managed super funds (SMSF)

Although their name suggests they are ‘self-managed’, accountants can help provide expert advice on setting up a SMSF, as well as management, investments, audits and compliance advice. It is always strongly recommended that you speak to an accountant before setting up a SMSF to ensure that everything is within regulatory guidelines, as this can be a tricky and complex area to get through on your own.

Troubleshooting cash flow

If your business is having cash flow problems, accountants can assist with advice and strategy suggestions to get things back to where they should. 

Buying and/or selling a business

If you are looking at buying or selling a business (or both), an accountant is involved in more ways than one. From the purchase price to due diligence on financials to the breakdown of settlement funds, accountants help every step of the way.

Business Advice

If you require advice when it comes to business financials, strategy and transactions, then an accountant is the person to call. They can assist across a variety circumstances, offering educated advice and options based on the exact needs of your business.

And so much more! This is just the beginning when it comes to the skills and abilities that an accountant may have. Some accountants even specialise, allowing expert guidance on one particular area. 

Ultimately, it depends on you, your business and its requirements as to what an accountant does and can offer to you. If you would like some more information, or are in need of a business accountant on the Sunshine Coast, give Bottom Line Control a call on (07) 5471 7077 and we can discuss your accounting needs today.


Xero (What does an accountant do?): https://www.xero.com/au/resources/small-business-guides/accounting/what-does-an-accountant-do/

ASIC - MoneySmart (Choosing an Accountant): https://www.moneysmart.gov.au/life-events-and-you/life-events/choosing-an-accountant

Accountant & Bookkeeper Reviews

Bottom Line Control Reviews


Bottom line Control, headed by Malcolm Chilman, have been by tax agent/accountant/book keeper for more than 10 years now, and I have nothing but praise for the efficient and cost effective way they go about their work. I have recently given them my SMSF as well and am impressed by the meticulous way he goes about the process of staying within the lines of the over-complex Superannuation law. Whether it is simple BAS bookkeeping or complex questions of tax law, Malcolm is always there to help. And if he does not know some intimate detail of our almost incomprehensible tax process, he knows where to find the answer. Every business has the occasional need for a quick answer, so one of the characteristics that I appreciate here, is Malcolm's ready availability, by phone and email.

PA Apartments - Business Accountant Client

Byron Scott

PA Apartments

Business Owner & Investor

40 Wholseley St, Woolloongabba, Qld 4102

Phone: (07) 3891 1742 | Email: info@PAapartments.com.au

Thank you for your support, and assistance over the past several years. I personally feel that from our cooperative services that Ram Automotive has been able to grow toward the sustainable company of which is today. Bottom Line Control has given myself a great understanding of the companies finances, and also through ongoing fiscal performance meetings. Now knowing what Ram Automotive can expect for the future. I look forward to an ongoing relationship with Malcolm and Bottom Line control, to secure our future within our community.

PA Apartments - Business Accountant Client

Matthew Katterns

Ram Automotive

Proprietor of Ram Automotive Coolum Beach

We changed all of our financials over to Bottom Line a few years ago and have been quite impressed with the service and advice we have received. Nothing is too much to ask of them. Thank you to Malcolm and staff for being there for us.

PA Apartments - Business Accountant Client

Wayne & Penny Rex

Rex and Turtle

Business owners and Property Developers

We switched to Bottom Line Control after realizing that our previous accountant was giving us incorrect advice and charging a premium for it. We have now been using Bottom Line Control for several years and have found Malcolm to be thorough and reasonably priced. He always finds ways to save money on our taxes. Malcolm and his staff are highly responsive and very easy to work with. We highly recommend.

PA Apartments - Business Accountant Client

Alex & Rebecca Watson

Equathon Horse Riding

PO Box 301 Noosa Heads, QLD 4567

Phone: (07) 5474 2665

Thanks Malcolm for saving me the stress of sorting through all the issues of self-employment, and the many confusing deductions and tax items associated with that. Although I was extremely late in lodging my tax return, it was not a problem for you, and you managed to get me a healthy refund when I was sure I was going to have a bill! I will certainly be using your services in the future and have already been recommending you to others.

PA Apartments - Business Accountant Client

Kim Anderson

The Anderson Outloook

Freelance Journalis