Ask business owners if they are happy with their accountant and most give an answer of considered indifference. Putting the question another way then – what should you expect from your accountant?
Historically an accountant was a once a year, inconvenient expense. Providing accounts that were already out of date, and a tax bill you were generally ill prepared for.
Then topping that off by giving you a bill for the work without you knowing how much it would be beforehand.
Well, that may be a slight exaggeration, but a lot of business owners felt, and still do feel that way.
Yet some (though becoming progressively fewer) business owners still accept that as being just the way it is, and never think about whether they could do better.
The world of business has changed in the last 20 years or so. The pace has quickened. The craving for up-to-date information at the touch of a button increases all the time.
So, what should an accountant now be doing for your business?
The needs of a growing business
As a business grows changes are inevitable. Bigger decisions need to be made, which have both bigger positives for getting them right, and bigger consequences for getting them wrong.
Whether in business or life in general, the best way to get decisions right is to have as much information to hand as possible.
In business this must include knowing your business numbers. And not your numbers from your last set of accounts that are probably many months out of date already, but up to the minute numbers that you can trust.
Where does your accountant fit in?
The evolution of cloud-based software for bookkeeping and accounting has certainly changed the landscape. Not only can you access your software from anywhere with an internet connection, so can your accountant.
This means they can, and should, be as in touch with your business as you are. When decisions need to be made, not only do you have the numbers to hand, so does your accountant.
And that places them in the perfect position to help you.
does your accountant give you value for money?
Does your accountant: –
- Provide a cloud-based bookkeeping solution and help with set-up and training. Saving you time and money with automated system?
- Monitor your business cashflow and profitability – spotting problems and opportunities early?
- Help with your business strategy and planning?
- Talk your language, so you are not confused by the numbers?
- Provide administration services such as payroll and auto-enrolment so you know everything is in hand?
- Monitor your tax position to keep your tax exposure to a minimum, whilst ensuring you stay best friends with the taxman?
- Provide a friendly, welcoming service that is fun to work with?
And let’s not forget, they should never surprise you with a large bill that you had no idea was coming!
If you are not getting this from your accountant, then maybe that considered indifference should be more of a considered disappointment.
And if that’s the case, why not book a complimentary discovery call with me and let’s see if I can provide the service you should be getting.