How to find the right Accountant

Let's face it—you're not short of choice! Although this can be confusing, it's a good thing. You need to take time to appoint a good fit, as you'll likely to be working together for many years.  

Honesty, reliability, and clear communication are a good place to start.

Finding the right accountant for your business can have many benefits, such as:

• Having a trusted partner who understands your business and supports your vision.
• Getting tailored solutions that suit your needs and goals.
• Avoiding mistakes and penalties that could cost you time and money.
• Achieving your financial goals and growing your business

Finding the right accountant for your business is not an easy task, but it is worth the effort. By following these tips and questions, you can find an accountant who can help you with your financial tasks, advise you on financial matters, and help you grow your business.

There are many ways to find a good accountant for your business, such as:

• Asking for recommendations from your friends, family, colleagues, or other business owners in your network
• Checking their qualifications and experience, such as their education, certifications, memberships, and awards
• Looking for a specialist in your industry or location who understands your business's specific challenges and opportunities.
• Reading online reviews and testimonials from their previous or current clients
• Visiting their website and social media profiles to learn more about their services, values, and personality.

Another factor to consider when choosing an accountant is their specialist area. Different accountants may have different expertise and experience, which may suit your business better than others. 

For example: 

• Your company may specialise in property development or property investment. While most generalist accountancy firms can handle small portfolios, it often pays to have specialist advice available when you have an extensive portfolio or complex projects.  
• If you are starting a seed-funded company, you will have reporting responsibilities that, depending on experience, might not be suitable for some accountants to handle. It pays to ask.  
• When should you use a generalist accountant? 95% of small businesses have relatively basic business models and will not need specialist advice. Providing your accountant is experienced in advising a range of small businesses from different sectors and has relevant tax knowledge you should be ok.  

The size of your business may also affect your choice of an accountant. Different sizes may have different accounting needs and expectations. 

 For example:

• If you are a one-person company, you may need an accountant who can handle all your accounting tasks, from bookkeeping to tax preparation. You may also need an accountant who can offer you personalised and flexible service, and who will charge you a reasonable and affordable fee.
• If you are running an agency, you may need an accountant who can handle your accounting tasks, as well as your payroll, invoicing, and billing. You may also need an accountant who can offer industry-specific advice and guidance and understand your unique challenges and opportunities.

The stage of your business may also influence your choice of an accountant. Different stages often require different levels of accounting support and expertise. 

For example:

• If you are a start-up, you need an accountant who can help you with the basics, such as setting up your accounting system, registering your business, and filing your tax returns. You may also need an accountant who will help you with your business plan, financial projections, and funding options.
• If you are in the growth stage, you probably need an accountant who can help you with more complex and strategic issues, such as managing your cash flow, optimising your tax position, and expanding your business. You may also need an accountant who can help you with your financial reporting, budgeting, and forecasting.
• If you are an established business, you may need an accountant who can help you maintain and improve your financial performance, such as reducing your costs, increasing your profits, and improving your efficiency. You may also need an accountant who can help you with succession planning, exit strategy, or business valuation.

Once you have a shortlist of potential accountants, you should contact them and arrange a meeting or a consultation. This is your chance to ask them some questions and see if they are a good fit for your business. 

Some of the questions you should ask are: 

• What are your fees and charges, and how do you bill your clients?
• What are your service levels, and how often will you communicate with me?
• What are your communication methods, and how do you prefer to be contacted?
• How available and responsive are you, and how quickly will you answer my queries or requests?
• How do you keep up to date with the latest tax and legal changes, and how will you inform me of them?
• How do you protect your client's data and privacy, and what are your security measures?
• How do you handle disputes or complaints, and what are your policies and procedures?
• How do you measure your performance and satisfaction, and what are your goals and expectations? 

Feel free to book a 15-minute discovery call here and ask me these questions or any others you may have.