The Three Cs of Choosing An Accountant

By John T Hughes

Your accountant is likely to play a pivotal role in the financial running of your business therefore it is important that you choose wisely.

With a growing number of accountants around working in different ways, offering different services and charging different fees, it is important that you make informed decisions to establish the ones best suited to your business needs.

In this article, we will address three key factors which you may wish to think about when you are considering accountancy provisions for your business.

1. Clarity

Everyone likes surprises, apart from when it is in the form of a bill. One of the most common issues that people face with their accountants is the notion of the ‘surprise bill’ – receiving invoices from their accountant that they did not expect. Be this an invoice charging them for a phone call or just adding on charges that were unexpected. This can make it difficult, especially for smaller businesses, to budget for their accountancy fees and also put them off picking up the phone to their accountant for even the most simple queries.

Regardless of what the fees are it is important to choose an accountant who is clear and transparent about exactly what their charges are from the offset. When considering different options do not be afraid to probe about ‘hidden fees’ and ask about any potential charges for emails and phone calls. You should always read the fine print and check your contract, querying anything that you are unsure of. Choosing an accountancy firm that offer a ‘flat fee’ service and are happy to quote a fixed price can help to counteract this issue.

2. Communication

If they are effectively managing your business finances, it is likely that you will want to keep in close communication with your accountant. Therefore choosing an accountant who is going to charge you for every phone conversation or fails to respond to emails could make things difficult.

You should also ensure that the communication is comprehensive and clear. Accountants are trained to understand even the most complex accounting procedures therefore jargon is a regular feature of their career. However you need to be able to understand your business’ accounts therefore you may wish to opt for an accountant who communicates these to you in a clear and effective manner.

3. Control

Many people worry that by using a complete accountancy service they will lose control of their finances. It is not the role of an accountant to take over your accounts rather to ensure that they are managed effectively.

If you do have concerns about this, there are a number of things that you can consider when choosing your accountant. Online accounting software allows you a collaborated service with your accountant whereby you both have access to the same figures and reports on a portal and can easily identify changes made and keep track of your accounts.

Alternatively, you could opt for an accountant who even with a complete service requires you approve everything first. This way you can keep an eye on everything from your tax returns to your books and check that you are happy with everything before submission.

John T Hughes writes for Juniper Accountancy, a Bristol Accountancy firm. As chartered Bristol Accountants we can provide your business with a complete end to end service to take care of all your accounting and tax needs.

Article Source: The Three Cs of Choosing An Accountant