1st Tip For Choosing The Right Accountant For Your Business

Business Needs
Ask yourself what tasks do you want your accountant to perform for you. You may simply want your taxes prepared, or you may also need your business’ bookkeeping, payroll, and accounting dealt with.

Choosing The Right Accountant

2nd Tip For Choosing The Right Accountant For Your Business

Outside vs. Inside
There are benefits to both, but most small businesses are best served using a specialist external accountant. See our blog on the subject for a more detailed explanation.

3rd Tip For Choosing The Right Accountant For Your Business

Qualifications
Most people don’t know that you don’t need to be qualified to call yourself an accountant. Now you know you can ensure you employ only those with ICAEW or ACCA qualifications. An ICAEW member has, for example, professional indemnity insurance, so any losses to your business as a result of bad advice is covered.

4th Tip For Choosing The Right Accountant For Your Business

Experience
An experienced accountant is obviously more desirable than a freshly trained one but be careful to differentiate between an accountant experienced in accountancy in general and one who has particular experience of accountancy within your industry.

5th Tip For Choosing The Right Accountant For Your Business

Reputation & Referrals
Ask around for referrals from friends in business and ask your accountant for references. If your chosen practitioner has been around the block, then you’ll easily find people to sing their praises.

6th Tip For Choosing The Right Accountant For Your Business

Consistent Response Time
Accountants won’t immediately get on to the work you set them, but good ones will always reply to your queries promptly and advise you when and how they will be dealt with. A hard to contact accountant is a huge danger sign.

7th Tip For Choosing The Right Accountant For Your Business

Size of Practice
Small businesses are best suited to smaller accounting firms and large to large. Choose a solution that suits your business best. Nobody likes to think that their accountant has many, more important clients. You want to know you are valued as a customer.

8th Tip For Choosing The Right Accountant For Your Business

Tech-Savvy
Modern accounting has all sorts of digital and online tools that can be used to make the process simpler and easier and a good accountant will keep up to date with current trends. One who doesn’t appear to do this is sending signals that they don’t keep up to date. If this applies to their knowledge of the latest tax laws, then that doesn’t bode well.

9th Tip For Choosing The Right Accountant For Your Business

Can They Advise on More than Accountancy
All good accountants are as well versed in talking to businesses about how to grow their business as they are about how to document the it’s tax affairs. Test yours by asking about this topic and see how comfortable and knowledgeable they appear on the subject.

10th Tip For Choosing The Right Accountant For Your Business

Fluent in Your Accounting Software
A competent accountant will be well versed in all accounting programs and should be able to turn their hand to whichever system you use. Be wary of those that try and convert you to their way of doing things. They’re the experts, let them do the hard work and avoid those that don’t or can’t.