Choosing the right accountant is an important decision. After all, accountants are trusted with your small business’ finances! Knowing how to find a good accountant doesn’t have to be difficult. We’ve listed all the things you should know when you’re looking for your new accountant. See more here.
How to find a good accountant
To find a good accountant, you should keep some things in mind. Your accountant should be transparent and communicate with you, but there are some more things to consider. We’ve listed what to look for in an accountant below.
1. Transparency
Your accountant should always be transparent about their costs and their services. This requires great communication on their part and clear documentation about the cost of their services. Without this, there’s not only little to no trust, but it also means you won’t be able to factor this into your business costs.
At Accountancy Solutions, you can expect transparency at every step of your journey.
2. Good communication and availability
Questions about your small business’ finances should be answered by your accountant in a timely manner. This could be for tax deadlines or to react to any fiscal changes, which require reactive action and communication. This also builds trust!
3. Keeps up to date with industry changes
Your accountant should be aware of industry and government policy changes and should know how this affects your small business. This will give you clear financial data but also projections for the future of your business.
4. Proactive advice
A good accountant will answer any of your questions but will also proactively give you financial advice. This removes the chance for any missed opportunities – like tax incentives or savings.
5. Helps with business growth
Finances are a key to growing your business. Not only should your accountant be filing your taxes on time so you are aware of where your business stands fiscally, they should also be providing financial analysis. This includes analysis of performance metrics, forecasting, cash flow management, and budgeting.
How do I know if an accountant is good?
A good accountant will:
- Proactively give you financial advice – whether this is due to a change in your accounts or a change in fiscal government policy
- Reactive to any issues or changes that they notice
- Be communicative with any policy changes and opportunities for savings and investment
- Provide financial advice for business opportunities.
4 Benefits of having an accountant
If you have a small business, it’s definitely worth investing in an accountant. We’ve listed some of the benefits of having an accountant below.
- They save you on time as you won’t be faffing around with numbers – all you need to do is keep your receipts and records. Having an accountant also gives you peace of mind.
- You won’t have to worry about missing tax deadlines or keeping up with regulation changes.
- Having an accountant will save you money too. A good accountant will keep up with tax changes for you and look for ways to save you on any business costs.
- Get advice! Whether you’re growing your small business or have everyday finance questions, your accountant will be able to answer these questions for you.
Can my accountant do my tax return?
Yes! Your accountant can do your tax return. This means you won’t have to remember when to file it, avoiding any possible penalties. It’s also quicker for you! You won’t need to spend time getting your accounts together because your accountant will have all the information to hand.
Do accountants have access to your money?
You are able to choose how much access to your accounts your accountant will have. Many business owners opt for the ‘view only’ option which allows your accountant to see statements but not take any action – i.e., making transactions.
How can Accountancy Solutions help?
At Accountancy Solutions, we’re proud to offer a wealth of experience in a range of industries, such as construction, hospitality, and services – the list is endless! Whether you’re a sole trader or employing 100 members of staff, please get in touch.
We understand that accountants not only do your taxes for you, we’re also integral to business growth. Contact our expert team to see how we can maximise your profit for business growth.
We hope this guide on how to choose an accountant was helpful. Make sure to contact our team of experts for any further help.