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How To Choose An Accountant - A Few Tips

  • Thread starter Scottish Business Owner
  • Start date
Gemma Rowlands

Gemma Rowlands

New Member
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.
 
M

Mike Turner

New Member
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

selfemployed

New Member
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

selfemployed

New Member
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

Wigwam Tog

Ayrshire Web Design
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

selfemployed

New Member
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

Km Benjamin

New Member
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.
 
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