Choosing the right accountant for your business

How to choose the right accountant for your business

It can be challenging to know how to choose the right accountant for your business, especially if you’ve just set up shop. There’s a lot to consider so we’ve put together a handy guide to help you choose the right firm to help you with your finances.

Consider your business needs

What are you looking for in an accountant? How often will you need to check in with a professional about your finances? And will the right accountant be someone based close to you or someone who works remotely?

Some people prefer the personal touch that face to face meetings offer, or someone local enough for a regular check in. However, if you’re a digital nomad and prefer to conduct your meetings via Zoom and Google Hangouts, someone that specialises in the size, output or nature of your business but is based elsewhere might be best. 

It’s always worth tapping into your network for advice but in this instance, as you take advice on board, understand that what works well for your friends, colleagues and even competitors might not work best for you.

Choose the right accountant for your financial goals

When you’re choosing the right accountant, be clear on your business goals. If you treat these goals as your starting point it’ll be much easier to find the right firm or freelancer to help you. Get used to the idea of equating your cash flow with these goals and make sure you’re able to convey them clearly to the financial professionals you’re speaking with.

This will also help you to understand which services are essential, nice to have and additional. An accountant that offers bespoke packages can often be useful when running your own business. But be open to services you might not have considered, they may help to streamline your overall business plan. 

When considering what kind of support to go for, it’s important to think about how often you’ll need to check in with an accountant. What are the touch points you expect throughout the month or year? Be sure to ask about your chosen firm’s availability and any extra costs. If you’re starting a business from scratch, think about what your needs will be a year from now.

Things to do when searching for the right accountant

When you’re looking for the accountant or accounting firm that’s right for your business it’s essential to set out and to understand the tasks you’ll be responsible for and which tasks they’ll be handling for you. So, ask for a proposal.

Be sure to read this clearly to make sure you understand your financial and administrative responsibilities versus those of your accountant. If you have questions about the proposal, feel you’ll need more or less support, or would like to make changes to the proposed division of labour, make time to speak about your available options together. 

The importance of trusted accountants 

Book a consultation. Whether in person or online, when you choose the right accountant getting to know them is key for building trust. This person, or team will be supporting you through everything you do with your business so you’ll need to be able to have a strong and positive working relationship with clear lines of communication.

This is someone you’re going to need to be able to rely on and ask for help when you need it so don’t doubt yourself or make snap decisions, take your time making an informed choice and choose the right accountant for your specific needs.

And finally… See the cost as an investment in your business. Good advice, efficient support and crystal clear communication does come at a cost and it’s for better in the long term to pick the right accountant for your specific business needs than simply going for the cheapest option.

Of course it would be remiss of me to mention that I can help! Get in touch to chat about how I can support you and your business.