Some business owners make the mistake of using their accountants as a once a year service at tax time. Your accountant is capable of doing much more for your business than simple bookkeeping and tax returns. So, how can you ensure that you are getting the most value out of your accountant? The team at Active Accounting Group share these three clever tips.
1. The Right Accountant
There’s a multitude of reasons for hiring an accountant at different stages of your company’s growth. However, the first step is finding someone who is the ‘right fit’ for you and your business. For example, if you are a new business, you will benefit from an accountant who is enthusiastic about the prospect of working with a start-up and understands the challenges that come with it.
Not only should you look for an accountant with expert qualifications and resources that your business needs, but you should also develop a positive relationship built on mutual trust as confidential details are involved.
2. Expert Analysis
Another value you can get out of your accountant is their professional analysis. By dissecting your financial records, an accountant can discover which parts of your business are working well and which parts have opportunities for more growth. You’ll get the most value from a meticulous accountant who can effectively analyse your financial documents and forecast potential problems. Your accountant should take a proactive approach by using real-time information to make decisions looking forward, rather than only looking back. After all, it’s all about long-term planning.
3. A Sounding Board for Your Issues
A great accountant also acts as a ‘sounding board’ for your business. It’s valuable to share new ideas with them and seek feedback before implementing major plans. Your ideal accountant should assist with important business issues and steer your business in the correct direction to help achieve your goals. Good accountants always strive to be responsive when urgent issues arise to put the client’s minds at ease.
Now that you know these tips for getting the most out of your accountant, you must also do your part as a client. Maintain constant communication with your accountant in a timely and transparent fashion, such as replying to emails and providing requested paperwork. This will enable your accountant to offer the best possible solutions. The more you share about your business, the more you will get out of the relationship.
If you are looking for an accountant to ease your troubles while giving you confidence that your numbers are working for you, then contact the team at Newcastle’s top accounting and tax company, Active Accounting Group.
Right now, you can get a free tax review from Active Accounting Group.