Most – if not all – large businesses and corporations have been utilising the expertise of an accountant for years, but even if you work as a self-employed individual or have a sole proprietorship, partnership, or limited company, you can already seek out the services of an accountant from the beginning. There are many distinct advantages of working with an accountant, one of which is that you have more time to concentrate on your core duties and responsibilities for your business. And as you may already know, accountants are not just there to handle and keep track of your financial records – more importantly, they are there to make sure you file and pay the proper taxes and help you make sense of where your business is going. But the main question on your mind might be how you can find the ideal accountant for your needs. Here, then, is your expert guide.

Your guide to finding the ideal accountant

  • Even if you are working from home or don’t need to meet your accountant, it is still a good idea to set a meeting with them – whether it’s in person or via a video conference call. You need to make sure, after all, that you can work with them, and you can only gauge this correctly if you see them and ask them pertinent questions right then and there.
  • One of the most important questions you should ask your prospective accountant is the kind of services they can provide. Some may be able to provide a package that includes bookkeeping as well as the filing and submitting of taxes, but it’s best to make sure and confirm.
  • It would also be good if you can ask your prospective accountant or accountancy service, such as the central London accountants from Griffin, Stone, Moscrop & Co, about their qualifications plus their experience. Their qualifications will matter if you plan to take out a loan in the future or if you go under audit. A good accountant should be qualified according to various recognised bodies in the UK, such as ICAEW, CIMA, ACCA, or ICAS. If the accountant is chartered, this means they are recognised internationally for their professional skill and standing.
  • It would also be better if you can ask your prospective accounting firm or accountant about their fees from the start. Their job, after all, is to ensure you are saving money in the long run whilst making sure you are duly protected from any risks. You can ask them how their services can provide you with the value you need. Your accountant’s fees will often be based on their actual services, and your payment method can also differ. For example, some services involve a fee per month, such as bookkeeping and annual accounting, whilst other services may have an hourly charge, such as advice on your business’ tax planning. If you have a larger business, you may also have to pay a higher fee to your accountant.

You can choose to work with an independent accountant or an accountancy firm. While this is more of a personal choice, it’s best to choose those with experience related to your niche and industry and the size of your business.

Image attributed to