Why do I need a good accountant?
A good accountant is vital to your business because they can work with you, so you understand the numbers and help you make critical decisions to help your business grow. They can also save you tax, and of course, answer the obvious basic things like actually making sure you get your accounts in on time, while being able to sleep at nights without the thought of getting a fine.
Five tips for choosing a good accountant
1. Accounting company size
First, we need to look at the size of the firm. Accounting firms can be all shapes and sizes. Having an accountant whose firm is a similar size to yours or at least works with the size of your business is ideal. You also do need to be aware of the expertise in that firm, so sometimes small isn't right if you've got something quite specific that requires expertise.
2. Accountants expertise
This next tip is having expertise or experience in your sector. A lot of financial and tax issues are common across businesses due to their lack of expertise. Having an accountant that works in your field so that he or she faces similar issues as your company and somewhat knows the solution. To overcome this issue, check out their website, look if there are any pages about your sector or testimonials from similar businesses to yours.
3. Fees of an accountant
An essential tip is how much an accountant charges. Now, cheapest isn't necessarily best; it's often worth paying a bit more for a good accountant, to ensure you are getting the right good quality advice. The fee of an accountant shouldn't be seen as a cost but an investment to help grow your business and increase your profits. But you need to be clear on what you're getting for that fee, so you can make sure you're receiving value. You also need to compare with other accountants to see which one will get you the best deal even if it means your paying slightly more.
4. Qualifications of an accountant
The qualifications of your accountant is paramount in getting the best results for your company. It doesn't require skills or experience to start an accounting business. Which means you need to ensure your accountant has some qualifications and can do the job you're paying them to do. It also helps if they're a member of a relevant institute, if your accountant is a member of a specific institution, it gives you comfort they know what they're doing. It also gives you someone to speak to if ever there are any issues.
5. Finding the right accountant
Get some recommendations, talk to your friends, your customers, your suppliers. If you don't know anyone who's got an accountant, look at testimonials on their website, look at third party websites with reviews for accountants that meet your standards and needs.
6. Attitude of an Accountant
Make sure you and your accountant get along. You're not looking to find a new best friend, but you need to have some sort of compatibility. Having a professional relationship with your accountant will allow you to work quite closely together.