Steps To Take To Choose The Right One

When choosing an accountant, it is important that you will want to find someone that makes you feel comfortable with, and works in a style you are happy with. Accountants are not there just to deal with your accounting, but will be there as a key advisor for your business. They will be giving you advise about a very important area in your business, your money!

Here is a few times to follow, that will hopefully find you the right accountant you are after;

- Determine the size of work that you want your accountant to deal with, from just providing you end of year and working out your tax annually, or if you are looking for someone to take on every step of bookkeeping and PAYE (Pay As You Earn), providing monthly financial reports and advice throughout the year.

- Ensure they have happy customers, ask for some referrals from small business owners that run the same business, and size is alike yours.

- Set up an interview with two or three accountants so you can get to meet them, and ask specific questions.

- Keep the interviews focused and determine that you are comfortable with them dealing with all your financial issues, advise and you have total confidence in them. When in your interview, here are some questions you should cover:

• What's the primary services you provide to small businesses?

• Do you have knowledge in my industry, or field? If not ask them whether they think this is important for the services they will be providing to you. In some circumstances it will be necessary, such as in catering, as not all food produce is taxable and the vast majority of food both bought and sold is tax free. But in other industries, knowledge will not be that important.

• How will you be charged? The majority of accountants ask for a monthly retainer for ongoing services, such as bookkeeping/ monthly and quarterly financial statements. They do then charge a hourly rate for audits and tax returns.

• What can you do to reduce your fees? Listen to what advice they give you, and see if you will be able to keep your accounting costs down using the tips given.

• As your business grows, how can they help you? Ask them to describe services they give to other clients. You can learn a lot from accountants, and how they have helped other companies get through growth issues, such as gaining financial backing, getting bank overdrafts and loans or even selling their successful business.

- Ask each accountant for a few references for other small clients, contact the references, and ask them how easy it is to work with that accountant.

- With the information you gather in the interview you should be well prepared to select the right accountant as an advisor for your business.

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