The 5 Most Important Considerations When Choosing An Accountant
Every accountant claims they’re ‘different’, but when it comes to numbers, the facts are always going to be the same. What you really need to know before you commit to choosing an accountant though, is whether their experience relates EXACTLY to your needs.
Whether your business is a brand new venture or flailing on the brink of failing, it’s almost always time to consider getting yourself an accountant. An accountant is the nerve centre of any business. With an accountant, you can expect smooth monetary manoeuvres; without, you’re in for a rocky ride.
So take two minutes and read the 5 most important things you should consider before choosing an accountant…
1. QUALIFICATIONS
It is of PARAMOUNT importance that your accountant is affiliated with one of these recognised bodies:
- The Association of Chartered Certified Accountants (ACCA).
- The Institute of Chartered Accountants England and Wales (ICAEW).
- Associate Chartered Accountant (ACA).
- The Chartered Institute of Management Accountants (CIMA).
- Chartered Institute of Public Finance Accountant (CIPFA).
In addition to this, GCSEs, A-Levels and a relevant degree are preferable. You’re at complete liberty to ask about these.
2. RELEVANT EXPERIENCE
Accountants specialise in multiple different areas. By visiting a prospective accountant’s website you can tell exactly which areas of expertise they specialise in, thus eliminating ‘no-goes’. Ours can be found here!
For example, start-ups would be wise to opt for an accountant that offers business growth advice and guarantees about their service, as this particular type deals with the aims and objectives of the business. This is a fantastic way to set off on the right foot and knowing with guarantees about their service it gives you the assurance they are good at what they do otherwise they wouldn’t do it.
3. AVAILABILITY
Where some clients are happy to scrape by with the bare minimum of contact with their accountant, others can be more…needy. You need to make sure prospective accountants are there for you whenever you need them and not just on specific dates and times.
A good accountant will keep in regular contact and will not leave you in the dark. This sounds obvious, but when it comes to business, anything goes, literally. Money can disappear overnight and you need an accountant who will prioritise your needs. You want exclusive, not elusive.
4. FEES
One question – would you buy a faulty car just because it’s cheap? Like anything, accountants’ fees vary, and low fees might not always give you the service you need. In the same way a faulty car can be dangerous, a faulty accounting service can be detrimental to your business…seriously detrimental. On the flip side, expensive doesn’t always mean extensive.
A good accountant should be completely candid about their fees. Bearing in mind each case is different; accountants who charge for particular pieces of work opposed to ‘by the hour’ invariably give the client an insight into their honesty. In addition, make sure you ask whether all quotable prices include VAT – that one can be a sneaky add-on, which can cost a lot. Ultimately, you should opt for the accountant you feel gives you everything you want, irrespective of price.
5. NO PRESSURE
Personally, I think this is the key. Bearing in mind accountants are in the business of money to make money, the good ones are ultimately there for you, whether that’s on a personal level or on a larger corporate scale. Any accountant who waves their hands and pressures clients without identifying how their expertise can benefit them first shouldn’t be picked for the team. A initial meeting should be offered, so the accountant can see what they’re working with, and the client can see how they will be helped.
By choosing SHMS Ltd, you can rest assured you’re getting all this and then some. We have all the right qualifications, gained from all the right experience. We’re always available for you at an exceptionally fair price, but most of all, we will not pressure you into working with us if we’re not right for you, and that’s our promise. We’d love to hear from you so give us a call on 01489 584400.
You should be considering what qualifications the accountant has, whether their expertise lies in the same kind of business you run based on size and industry, their availability and fees, and what kind of impression you get from them to start with.
So there you have it. If you consider all of the above before choosing an accountant you should be just fine. After all it’s your prerogative to tell your accountant to mind YOUR own business.
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