You’ve decided to set up a small business, and you know you’re no good with numbers. Or perhaps your existing business is doing really well but you’re spending too much time with spreadsheets. It’s time to find an accountant. But like all things in life, you have to make the right decision.
It’s not simply a case of browsing the Yellow Pages and calling the first person you see. Neither should you necessarily opt for the cheapest. You don’t want exorbitant fees of course, but the cheapest may cost you more in the long run. Over the years, you’ll want to develop a positive and ongoing relationship together that will benefit you and your business; so it makes sense to get the selection process right.
If you’re still uncertain about hiring an accountant, here are three areas in which you can benefit straight away:
Small business advice
Ideally, you want an accountant who really gets to know your business and has your best interest at heart. As your business continues to grow, a good accountant will become a trusted and reliable ally, whom you feel comfortable asking for advice. We offer business accounting in Gloucestershire to our clients, and go that extra mile by offering general business advice too. It’s so much easier to contact just one person who really understands your needs.
It can be tempting to leave your accounts to the last minute, but this often causes problems, not to mention stress. An accountant can help you set up and run an efficient bookkeeping system, so you stay on top of your accounts. At Safehands, we recommend QuickBooks which gives both you and us up-to-date and real-time figures.
Becoming tax efficient
Small business owners often find tax compliance complicated and stressful; after all, it’s not your area of expertise. An accountant will be au fait with the latest tax compliance laws and able to give you advice. In addition, you’ll discover how to run your business in the most tax efficient way.
How to find an accountant
Whenever you’re looking for a product or service recommendation, you probably ask friends and family. But unless you’re friends with another small business owners, it can be difficult to get a personal recommendation.
There are numerous groups on Facebook for local business owners, you could ask at a networking meeting or you may need to search Google. It’s worth contacting three or four accountants, having a conversation on the telephone, and making a short list for meeting face-to-face. If you’re planning on developing a long-term relationship together, the rapport between you is important.
Getting it right
Getting things off to good start will help you feel secure in your decision. During an initial meeting, a reputable accountant will be able to give you an estimate of costs and together you can determine which aspects of the work you will do, and what they will do.