As Businesses grow they need the services of an accountant to help them manage the finances and tax obligations of their business. What services do you need and how do you make sure you’re getting good value for money?
Here are our top 5 tips for getting the most from your accountant.
1. FIXED FEES
Don’t pay by the hour, agree on an upfront fixed price for your accountant’s services. This will let you control and plan for the cost of the work and the agreement should detail clearly on what you’ll get in return for your money.
2. BE REALISTIC ABOUT YOUR BUDGET
While it’s important to keep an eye on all business costs, you should review your budget on a regular basis. Over time, you may require additional work from your accountant – you may need additional, more wide-ranging services, or less support as the business becomes large enough to support more inhouse staff. Update your budget according to what your business needs.
3. BUY only WHAT YOU want
Most accountants will have a menu of services so think carefully about what you actually want. In particular, look at what services an accountant can provide to help you save time, save tax and grow your business. Equally, don’t pay for what you’re not getting.
4. TIMING IS CRUCIAL
If your interactions with your accountant are occasional you may be just satisfying your compliance responsibilities, but you won’t be getting timely analysis of trading and business performance that you can put to good use.
5. RELATIONSHIPS MATTER
Your accountant can and should make an important contribution to your business, but if you don’t feel comfortable talking frankly and openly with them, you won’t be able to take full advantage of having an accountant. An accountant should be a trusted business partner who can help you improve your business.
March & Dirgova Chartered Accountants – YOUR BUSINESS ADVISOR, ACCOUNTANT AND BOOKKEEPER ALL ROLLED INTO ONE.
March & Dirgova Chartered Accountants puts you in control. If your accountant is not fulfilling your needs, it’s time to have a chat to us.