Choosing the right Accountant

Accountants can offer advice on a range of services, such as basics like bookkeeping, to the more sophisticated issues such as raising funds or tax planning.

Accountants can offer advice on a range of services, such as basics like bookkeeping, to the more sophisticated issues such as raising funds or tax planning. Accountants can be expensive, but their knowledge and expertise in such matters could save you considerably more in the long-term.

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And finding the right one to meet your particular needs now and in the future is important, as a good accountant can also act as a mentor and help to open doors.

 

Try not to think of accountants as just being able to help out with bookkeeping or accounts. They can give you advice on marketing, HR and funding their role is not just about keeping the taxman happy.

 

An initial meeting with your accountant should be free and will give you both the opportunity to decide whether he is compatible with your business needs. Always agree a fee upfront and don’t be afraid to ask for a projection of further charges that may arise, so you know where you stand from the start.

 

If it makes you feel more settled, you could always ask to pay the fees on a monthly basis, so you can control the costs better.

 

Keeping in regular touch is also helpful if you want to build a lasting relationship with your accountant. If you only phone your accountant once a year, it is unlikely that your business will stick out and it may not get the attention it deserves.

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Regular meetings with your accountant are important especially for small businesses but ensure you have an agenda set out so that you do not waste your time or money. Decide what you want from the meeting before it takes place.

 

Decide whether a face-to-face meeting is necessary, a query solved over the telephone can cut down on costs.

- Its always worth negotiating on fees broadly, costs are based on time

- Prepare as much as you can before a meeting, so time is well spent

- Dont be afraid to question charges

 

- Word-of-mouth recommendations can be useful

 

 

Source: Smallbusiness