An accountant is a qualified professional who keeps track of your financial records, and is most commonly used for submission of your tax returns. However, a good accountant can provide much more for your business, and can be a valuable asset in assisting you to grow your business. There are a several factors to consider before you engage an accountant. Some of these are:
· What experience does the accountant have? Have they had extensive exposure to businesses in the same field as yours?
· Are they correctly qualified? Standards vary from country to country and state to state, so ensure that your accountant meets the necessary certification standards.
· Are they members of an industry body that is bound by a code of conduct?
· Do they offer a dispute resolution service in the event of a disagreement between you and them?
· Are they readily available when needed?
· Are they recommended by other business people?
· How much do they charge and what do you get for your money? An accountant that charges more may well be worth it if they can provide better services for your business.
· Are they able to offer a computer link to your business for downloading necessary information?
There are several ways to find an accountant, and the most effective way is through a thorough process of research. It’s not wise to just choose one from the local phone book. You need to find an accountant who has particular experience with businesses in a similar field as yours. If you are part of an industry body, perhaps they can recommend several accountants with relevant experience. If you are part of a franchise group, perhaps they can recommend a suitable accountant.
Talk to other business owners, in particular those in the same industry. What have their experiences been? Do they have an accountant they can recommend and why? Are there particular accountants they don’t recommend and why?
What services can your accountant offer? Are they there only to prepare your tax, or are they able to value add to your business by providing sound advice in areas such as cost savings, forward planning, financial advice, industry specific trends etc. You should not see your accountant as just a bookkeeper. They should be able to help you increase profits and keep abreast with industry trends, and that is why it is important to find a specialist with experience relevant to your business type.
Will you be able to talk to a specific accountant, or will your affairs be handled by more than one person? Sometimes, it’s preferable to have the services of just one person, however depending on the accountant’s workload, that may not be possible, and you may find yourself communicating with a secretary. Is that what you want?
Choosing the right accountant for your business is easy once you know the right questions to ask. Hopefully the information provided in this article will help you make the right choice.
The author Dave Curran has over 25 years management experience in both the private and government sectors and has successfully run his own small business for several years.
