Pin-the-tail-on-the-donkey games are popular with young children and parents alike. Just put on a blindfold, spin around a few times and enjoy as the person struggles to stick a pin into the picture of a donkey that’s missing its tail. Traditional games like this are fine but what worries me is when we take this approach to choosing the professionals who handle our personal and business matters, such as your Accountant, who may not have any qualifications at all.
Make sure your accountant is qualified.
It is very important to make sure that the person who is going to deal with yours and your company finances – your accountant, is qualified, experienced and knowledgeable. Accountancy, taxation and payroll are complicated and dynamic matters which cannot be handled by anyone who claims to be “a professional accountant”. So before making the final decision pay more attention on the company’s team as well as for how long they have been on the market. In this ever changing and challenging times, it is impossible an accounting practice to survive more than twenty years on the market unless it is a good one.
If possible, choose the right accountant for you from the very beginning!
First things first, try to choose an accountant before you start your business who will then be able to help you get the structure of your business right from the start, with your initial business plan as well as with tax planning. It may seem to you that establishing your company and get it started is easy, but there are many pitfalls and considerations which if not taken into account can seriously damage your initial business plan or can cost you valuable time and money.
Look for an accounting company which provides a proactive service
We firmly believe that the good accounting service does not mean contacting the client at the end of the year while during the rest of the time solely keeping his books. Accounting today is also about expert advice, tax savings and personal relationship with the client. Your accountant should be your first point of contact should you have any question in his area or even a little bit beyond. A good accountant will want to speak to you regularly and will be happy to see you at your or his premises at time that is convenient to you, even if it has to be after the official working hours.
Choose an accounting company which is widely recognized internationally
The accounting world today is reorganizing itself and many of the successful local accounting practices are becoming members and partners of worldwide recognized professional associations and networks. It is worth mentioning that these professional accounting organisations do not admit each and every accounting firm that applies for membership. There is a long procedure of investigation of company’s financial stability, corporate methods, circle of clients and team members. In this sense, the more international professional partners a certain accounting company has, the better guarantee that this is a company that you can trust.
Finally make sure you choose an accountant you like
This may seem a strange statement but to get the most out of your accountant’s expertise you need to work closely with them and to do this successful you need someone you trust and are comfortable with. It is important that you actually like your accountancy team; they’ll be advising you on some pretty vital stuff and so you have to be able to a: trust them enough to take their advice and b: feel comfortable enough with them to be completely candid about your finances. So, choose people you click with and remember that it is not unprofessional to be somewhat instinctive about your decision.
Choosing an accountant doesn’t have to be pot-luck. Make sure you have a strategy about this and don’t just pick the first accounting firm you come across. After all, not all accountants are created equal.