Let’s get straight to the facts – your business is often your livelihood – so it’s absolutely critical, you find the right partner to look after your finances.
Over the past few years, we’ve heard countless horror stories from clients being lured in by attractive discounts and upfront offers…
Only to find when they need help the most, nobody even picks up the phone!
Even worse, their entire business is put at risk by poor management of their accounts!
So before you select your next (or first) accountant, here are 3 things to check:
1. Online Accounting Vs Hybrid Accounting
Always beware of companies promising “one-size-fits-all” pricing.
Most of the time, this means you’ll be simply set up on online accounting software, but you will get next to no human support or guidance.
Others may simply recommend accounting software and get paid a commission…
This isn’t accounting! Especially when there’s no benefit passed on to you as the customer.
For example, at Rodliffe we’ve partnered with the major online accounting software companies like Xero and FreeAgent. But instead of simply taking a commission and leaving you to it, we pass those savings onto you by providing you the software at a discounted cost.
Most importantly, we then give you a fully qualified accountant to support you and offer invaluable strategic advice and guidance.
Because as great as technology is, the accounting landscape is always changing and we would always recommend having a qualified accountant in your corner to advise you.
Otherwise you run the risk of incurring huge penalties, overpaying on tax and potentially ruining your company.
That’s why we always suggest looking for companies who offer a hybrid style approach to accounting.
This basically means utilising the latest technology, whilst also having a trained, qualified and experienced accountant by your side.
The fee for these accounting services is heavily dependent on the size, revenue and structure of your company.
As such, we would never offer “one-size-fits-all” pricing!
That way, you know you’re never paying too much or too little for what you actually need!
2. Audit The Auditors
Before you engage with an accountant or let them audit your accounts, doing your due diligence is essential.
You can always check on the regulators website to verify this information.
You’ll be amazed at how many “accountants” there are who don’t actually have the relevant up to date training.
This can cause potential issues down the line and open you up for huge fines and penalties due to outdated or incorrect advice.
Qualifications aside, it’s always good to speak with someone first to ensure you actually get along ????
Here’s what one of our customers had to say about the impact that having a good relationship with their accountant has had…
3. Will They Actually Help You GROW?
Another big point to consider before hiring a new accountant is whether or not they can actually help you grow.
Looking after your accounts and doing enough to “get by” is one thing.
But you didn’t create your business to simply get by…
You created it to thrive, to make an impact, or maybe even to create the life you’ve always wanted.
That’s why we always go a step further with our clients and work with them on the strategy side too.
To help them find potential risks AHEAD of time, as well as opportunities to seize that can help grow your business with maximum profitability.
So there you have it!
If you follow these steps, you’ll be well on your way to finding the perfect accounting partner for your business!
If you want to speak to one of our experienced accountants
You can book a FREE call below for a no-obligation quote and personalised advice today!