When it comes to handling your business matters, you want to work with someone you can trust. However, knowing what to look for isn’t always as straightforward as you would hope. In our How to Choose Your Accountant guide, we cover the key points to consider to ensure you make the right decision for your business.
Selecting an accountant before you start your business or as soon as possible is highly recommended. Choosing an accountant early in the process allows them to help with those first essential steps, such as registering with the tax authorities and setting up a payroll.
Check for accreditations
Checking to see whether a potential accountant holds the relevant accreditations is essential. Accounting bodies to look out for include the ACCA (Association of Chartered Certified Accountants), ICAEW (Institute of Chartered Accountants) and CIMA (Chartered Institute of Management Accountants).
Choosing an accountant registered with an accounting body provides a level of assurance that should they not perform to expectations, you still hold a degree of protection.
Understand the fees
Before settling on a decision, you will likely want an overall idea of costs and how these are calculated. Understanding if fees are fixed, monthly or annual, potential overtime costs and whether there are any entry, exit or catch-up costs are all crucial to establishing before reaching an agreement.
Seek specialist knowledge
Checking whether your accountant has experience with clients similar to yourself can be incredibly helpful, as this knowledge can prove a real advantage. A specialist accountant in your industry will typically have a deeper understanding of particular laws relevant to your field.
Get a feel for their communication skills
Strong communication is essential in all walks of life, and the same is very true for accountants. Working with an accountant who lacks communication skills will only lead to problems, such as delayed paperwork and frustrating hold-ups.
Solicit personal recommendations
Comparing and examining different accountants to find the right one is crucial. However, a personal recommendation from a trusted source can go a long way to reaching a decision.
We hope our guide on How to Choose Your Accountant has provided you with an insight into what you need to consider. At Gilberts Chartered Accountants and Business Advisors, we offer an extensive range of accountancy services, including bookkeeping, payroll and account management to help develop and grow your business.