Great accountants don’t just take care of VAT returns and compliance issues, they help get the most out of your small business. With insights, data analysis and strategic advice from a qualified accountant, you’ll see a great improvement to the success of your business.
Sounds like too much for your small business? Not in 2020. As the world becomes more connected, more data becomes available for accountants, and data is powerful. So, with that said, let’s get into three points to you help determine whether you’re getting the most from your small business accountant.
Helping your accountant help you
The more organised you are, the less time it takes your accountant to get the work done. This also means your accountant can spend more time looking for opportunities to improve your business and help it grow.
A big inefficiency within accounting is when an accountant revisits a task multiple times. This often happens when not all of the information is available from the client to complete it and therefore has to go back and edit as and when information is received. Not ideal.
Here are a few suggestions to help improve efficiency and get the most from your accountant:
- A good accountant will ask for exactly what they require. Make sure you give them what they need and all in one go to achieve maximum efficiency
- Answer queries from your accountant as quickly as possible
- Implement solutions agreed with your accountant to save the need for follow-ups
Regular catch ups
Whether it be weekly conference calls or monthly meetings, you should always set times to talk over things and discuss any problems before they escalate. If you delay speaking to your accountant and then dump all of your difficulties at once, this can cause last minute panic, especially at year end.
We suggest setting up a call once a fortnight for a specific day and time, and then meeting face to face once a month. This gives plenty of opportunity to speak about plans and ensure you’re both on the same page.
Pay for value
Don’t just choose an accountant because they offer the lowest fees. Get to know your options, and find out how each accountant can add value to your small business. Hiring a qualified accountant that understands your business and adds value to your company will ensure you’re getting the most from your accountant.
If you’d like more information on changing accountants and the reasons to do so, take a look at our blog: How to change accountants and the reasons why.
Getting the most from your accountant is relatively easy - Hire a qualified accountant, be organised and arrange regular catch ups. You’ll notice the value your business receives.
If you’re looking for a small business accountant in Hampshire, contact us today for financial services made with your business in mind.