How To Choose An Accountant - A Few Tips

[Gemma Rowlands]

That's interesting to hear Gemma. Contractors get paid monthly so their accountant would be doing something for them every month.

My clients (sole traders through to limited companies) pay me on a monthly basis. It is beneficial for both parties - the client can spread payments and the accountant knows they will get paid.

I can see your view though - especially if it means extra work for you.

Fair enough, I get your point there. But I don't use mine every month, I keep a few months worth of receipts etc and then hand them over, because we just don't turn over enough to warrant anything more, really.

 

[Mike Turner]

Fair enough, I get your point there. But I don't use mine every month, I keep a few months worth of receipts etc and then hand them over, because we just don't turn over enough to warrant anything more, really.

I would pay them by the hour rather than by the month if you know you don't use them all that much. It would be better value for money for you at least, and you'd know you'd only have to pay them when you were using them, rather than some payments for months when you wouldn't be using them at all.

 

[selfemployed]

In my experience you cannot beat a recommendation from a friend or business acquaintance. As well as being good at their job I think you also need to be able to build up a rapport with your accountant, so you can call on them when needed and not only are they aware of your business dealings but also what is happening in your personal life. Everything which you tell them is in confidence and my accountant has been fantastic. Also, in relation to fees, any good accountant will be able to save you a lot (if not all) of their fees in tax planning savings.

 

[selfemployed]

Forgot to mention, rather than being hit with a one off accountant's bill at the end of the financial year I pay a small portion each month by direct debit - very useful

 

[Wigwam Tog]

There are many accountants around and choosing one can be a minefield, especially as their charges can be so varied. A small business has very different accounting needs from a large business, so the first thing you need to establish is which client type the potential accountant has the greatest expertise in. When interviewing potential accountants make sure you ask them for a few testimonials, and then talk to them too, asking any questions you have about their service. This is a great way of testing the sales pitches that you get.

Getting on with your accountant is also important, as is their response times to your questions (and you will have a lot of questions as your business gets under way).

It is always good to have an accountant who is patient and does not mind explaining things in layman's terms. I also agree with making payments monthly rather than having a massive bill at the end of each year, and many accountants offer this service.

 

[selfemployed]

I cannot fault my accountant, always available when required (she replies as soon as possible),fair costs for a great service and as the relationship grows she has been able to advise other ways of keep my tax payments under control. I have found that a good accountant pretty much pays for their fees by the quality of advice and potential savings for you along the way.

 

[Km Benjamin]

I am also Accountant and working on a monthly basis, but I am not working for a 3rd party, I run my own accountancy firm In London, and my point of View monthly basis accountants work faster.

 

[PatMil]

There are a lot of assumptions and confusion about the role of an "accountant" in a SMB. Some just provide a bookkeeping function (a shrinking market as more and more of this function is automated),others an extension of the bookkeeping in that they produce a regular (e.g. monthly or quarterly) set of accounts and/or the required statutory accounts. There are also specialist functions like tax structuring and advice.
Other accountants (a growing business) provide a wider range of support functions to the business owner (some examples include cashflow and profit planning, budgeting, monthly reviews. risk analysis, etc). This financial management support is an essential role that is often overlooked ... to the detriment of the business.

 

[Benjyhall]

I hope this is still relevant, notice no one has posted for a while & there is extremely valuable information here, I run a small SME business & I've tried most of the online softwares like Xero, Quickbooks, Free Agent etc, now i'm with Ember, If I were to input any advice, I'd say definitely look around, I feel I couldn't find the right one till now & i could of saved a lot of time & money if I took the time to research or ask around a bit more for sure, i hope this helps, but 100% read through this thread, great stuff!

 

[Deniel0]

Experience is very important, and it can help you a lot. You also need a separate accountant. What that means is that someone who has been licenced and regulated is someone who is As a last thing, you want someone who's on the same page as you. This person should be someone who understands you, and you understand them. Don't forget how important it is to have a good relationship.

 

[Maricores]

It’s hard to find a good accountant who fulfills all his obligations. I think that all good accountants already work in firms and they can not be poached. There's an option to hire an inexperienced employee, but you’re risking it. I think, to avoid the risk, we can use the services of accounting firms. I appealed to Gorilla Accounting services for landlords, and they coped well with my problem, but the problem was not serious, so I think it makes sense to address it.

I agree with the fact that it's hard to find a good employee, acountant especially, to work hard and systematically

 

[TruemanBrown]

Make sure that you confirm that the accountant is insured and check his qualification!

 

[Aaron Reed]

thanks for this post

 

[amandaorl]

When choosing an accountant, there are a few key factors to consider. First, assess your specific needs— whether it's tax planning, Online Bookkeeping, or financial consulting. Look for a certified accountant with relevant experience in your industry. Ask for referrals or read reviews to gauge their reputation and reliability. Ensure they use up-to-date accounting software and technology for accuracy and efficiency. Discuss their fee structure and make sure it aligns with your budget. Good communication is vital, so find someone who listens and explains things clearly. Ultimately, selecting the right accountant is a crucial decision for your financial well-being and business success.

 

[mitchellwilliam912]

References and Recommendations are the most important tips

 

[mitchellwilliam912]

What are the key qualities or criteria you look for when choosing an accountant for your business, and how do you ensure a good fit between your business and the accountant's services?

 

[omeracc]

Choosing the right accountant for your business or personal finances is a crucial decision that can have a significant impact on your financial well-being. Here are some tips to help you make an informed decision:

*Qualifications and Credentials
*Experience in Your Industry
*Services Offered:
*References and Reviews
*Communication Skills

You can also connect with Omer & Company Accountant for more information.