By Susan Perry, Cooper Accountancy
Finding a good accountant is a bit like finding the perfect partner. If your values and energy don’t match, it probably isn’t going to work. You need to trust your accountant with one of the biggest assets you have – your business – and getting it wrong can cause unnecessary stress and anxiety, when a good accountant should be taking those very things away from you.
There are hundreds of accountants out there, so how do you find one that’s right for you? Here are my top tips for the key attributes you should be looking out for.
Responsiveness
Whether you have a well-established business or are just starting out, you need an accountant who is available at the end of a phone call or email to help answer any questions, no matter how big or small. Having an accountant that gets back to you quickly is invaluable when you’re trying to make key business decisions.
Flexibility
Work with an accountant that understands things crop up at the last minute. Some accountants will charge for advice, phone calls and emails making clients scared to get in touch throughout the year for fear of being charged. Watch out for this in the contract. Ideally you want to work with an accountant who is approachable at any time of the year and flexible enough to help when required.We just can’t move HMRC deadlines!
Personable
Find an accountant that is personable. Someone who understands your circumstances and can support you through the tough times and challenges, as well as help you celebrate the wins. Perhaps more importantly, an accountant that
understands you aren’t expected to know everything. Just because you run your own company doesn’t automatically mean you are an expert in every corner of the business. Work with someone highly approachable and reassuring.
Values that align
Businesses come in all shapes and sizes and there is no one size fits all approach when it comes to accounting needs. Look for an accountant whose values align with your own. A good accountant will show great interest in your business from day one, looking for ways to support you.
Long-term relationship
Client relationships are built on trust, transparency and reliability which is built over time. Try to find an accountant that you can envisage yourself working with for years to come. You might be a sole trader now, but in the future this could turn into a limited company, there could be a VAT registration and payroll requirements for future staff. The longer you work with an accountant, the better they get to know you and grow alongside your business.
Business acumen
A good accountant is so much more than just looking at the numbers. Find an experienced accountant who understands your business and share advice based on experience when you need it. It’s often helpful to work with someone who has seen economic shifts and periods of uncertainty and can guide you effectively when challenges occur. This might include helping to look for ways to reduce costs or enhance cashflow.
Fees and charges
Finding the ideal accounting partner is not about finding the cheapest. It’s about finding someone you feel comfortable discussing the inner workings of your finances with. But do be careful when it comes to charges. Some accountants will charge daily if you file anything late, or if you call them. It’s important to understand that when a HMRC deadline is looming, your accountant will be trying to deal with lots of clients and it’s important that you adhere to the deadlines they set. Charges are often applied for any documentation that is received late, but these charges can vary. Check the small print of your contract before signing so you know what your responsibilities are.
A good accountant will keep you on the straight and narrow and take the time to give you clear explanations as to why something will or won’t work. Finding the right accountant for you and your business can be a bit of trial and error and it can take time to find the right one. If something doesn’t feel right, trust your instincts. Ask for recommendations from other like-minded businesses and ask them to share their experiences.
We need to step away from the idea that accountants just save you tax. We can often help you find more efficient ways to manage taxes, but growing a profitable business should be the main focus and a good accountant will help you do this.
Business owners need to work with partners they trust implicitly. Outsourcing your accounting is a big decision and getting it right takes away all the stress and worry of ensuring that everything is done properly and compliantly. A good accountant will care about your business as much as you do, coming along with you for the journey.
