HOW TO CHOOSE YOUR ACCOUNTANT – 5 QUICK TIPS
How to Choose Your Accountant – 5 Quick Tips
The right accountant will save you time, money and effort. It’s no secret that preparing year end accounts, filing tax returns and organising PAYE are thankless tasks – especially if you’re not particularly gifted in this area. At the most basic level an accountant will take care of these dull but necessary jobs for you. While more in-depth services will include cash flow projections and consultation in areas of growth and planning too.
It’s vitally important that you choose your accountant carefully. Don’t plump for the first agency you find in the phonebook just because it’s convenient. Shop around, take recommendations from your peers, ask lots of questions and follow our top tips below.
Choose Your Accountant – 5 Quick Tips:
1) Know Your Needs
The type of service you need will depend entirely on your personal preferences, business objectives and the size of your budget. Before you begin the search, make a list of must-haves: the things you need an accountant to do and the goals you want to achieve. You can then narrow your search down to the providers that meet these requirements.
2) Don’t Delay
If at all possible, choose your accountant before you start trading to give your business a fighting chance. Any hesitation may cause stress later down the line when you need to organise payroll quickly and have no idea where to start.
Furthermore, having an experienced accountant on hand to provide advice will be of enormous help as you start your new business.
3) Team Work
Your business is unique and so are your requirements. There is no such thing as one-size-fits all accountancy so look for a firm with a dynamic and varied team of professionals.
Choosing a firm with the team to cover all required services will keep all your important financial and business information under one ‘roof’. This will improve efficiency and ensure you are all on the same page.
4) Friend or Foe?
Although it may seem trivial, your accountant should be likeable.
If all goes well, they will become a trusted business advisor. They will be privy to confidential financial information and you will spend a lot of time in face-to-face meetings or on the phone with them. For this to be successful, you will need to get along on a personal level.
Arrange to meet a few different accountants so you can get to know them a little before embarking on a working relationship. Go with your instincts and choose your accountant based on the individual you like and feel most comfortable with.
5) Money Matters
Finding an accountant that fits your criteria and your budget is a simple matter of comparing quotes. Just as you would compare prices for car insurance or flights, you should compare accountancy fees. Request quotes from a selection of agencies and then rule out the eye-wateringly expensive and too-good-to-be-true cheap.
While it may be tempting to opt for the cheapest, remember the old mantra ‘you get what you pay for’. Is the accountant sacrificing time and quality to offer low rates? All too often the answer is yes. A cheap service is a false economy that may be extremely costly in the long-term.
Can UWM Help You?
If you are looking for an accountant, we can help at UWM. To discuss your requirements with our friendly team, phone 0113-231-0202, e-mail firstname.lastname@example.org or take a closer look at us. Jonathan Myers can be found at Google+