Once you’ve decided it’s time to hire an accountant, the next step is to choose which accountant to hire. It’s important to take the time to do this carefully, and there are a few things you will want to consider first.

It is in your best interests to have an experienced capable person handling one of the most important areas of your business – your finances.  The right person will save you money year after year.

 

• What is their location– Does this matter to you? Choosing an Accountant who is savvy with cloud technology will mean that you both have access to real time data no matter where you are.  However, you may prefer a more face-to-face relationship with your accountant allowing a deeper understanding of your business and goals.  Wherever they are based, make sure that they are expert in your local tax laws that apply to your business.

 

• Are they a Chartered Accountant? Chartered Accountants are highly qualified professionals who have completed degree level study plus gained significant on the job experience as well as completed post grad exams. The bonus is that they are also regulated by a professional body. The experience that a Chartered Accountant will add value to your business right from the start.

 

 

• Are they a good match? You don’t need to accept the first option that you are presented with. Interview a number of possible candidates and compare a selection of accountants against each other. This will make it easier to determine which one is right for you. The right accountant has more than just prestige.  It’s important that they understand small business needs, and are able to offer relevant insight.  Don’t be afraid to ask about their other clients and if they work with companies of a similar size and revenue.  Working with the wrong accountant may mean that you miss out on advice and help that would benefit you and your business.

 

• Are they accessible? Continuity is key in business and dealing with one person who understands your business will make your financial process much simpler and more meaningful.  In a larger firm, the person you initially meet or speak with may not be the person that looks after your account on a day-to-day basis.  Ask who will be looking after your account and what interaction you will have with your accountant.

 

• Are they proactive? Most people believe that an accountant will just be looking after annual accounts and tax compliance. However, that’s only a small portion of what a good accountant should be doing for you.  Ask how your accountant –
  • How they can save you money, and what the implications will be, remembering that a good accountant should always warn you of any pitfalls. Always make sure that they have a crystal clear understanding of the tax law so that they are saving your money in a legal way!
  • How they can help you grow your business. Do they have a special interested in business planning and goal setting?  Are they analytical and will they identify potential problems before they arise?  Will they be right beside you and help coach you through the highs and lows of business.

 

• What are their fees? You must ask how much the fees will be. And if they will be billed annually, monthly, or hourly.  Talk money up front otherwise you may be in for a shock once you have committed.

 

Good accountants help companies grow by managing complex financial work and offering advice on practical business issues, ultimately adding great financial value to your business.  The best ones will be your partner in all but name.  As long as you choose wisely, you can’t go wrong.

 

A Co-Pilot accountant will climb in next to you and be along for the ride.  They use cloud-based technology and pride themselves on being able to their clients when they are most needed.  Take a look and their services and accounting packages and get in touch.  We enjoy meeting with all prospective clients and working out a plan on how we can best work together.