Essential Feature
How do l choose the
right accountant?
Of all the advisers you are likely to
encounter when running a small
business, a good accountant is perhaps
the most valuable one to have. If your
accounts are in order and you are up-todate with the business’ financial affairs,
you are far likely to be more able to
concentrate on building the business.
There is nothing more stressful than
feeling behind or not in a position of
trust with your accountant, so here
are some tips on choosing the right
accountant.
1) Make sure your accountant is
fully qualified, and is a member of
an approved accountancy body. Look
for the letters ACMA or FCMA after
the accountants name if he or she is
a chartered management accountant,
ACA or FCA if he or she is a chartered
accountant, ACCA or FCCA is he or she is
a chartered certified accountant. These
qualifications mean the accountant
has gone through a very rigorous set
of exams before qualifying as well as
spent several years gaining practical
experience.
2) When you first meet a prospective
accountant, you will know soon enough
if you see eye-to-eye. It is important to
develop a good relationship and know
that your finances are being handled by
someone you trust.
3) Your accountant needs to be easy
to get along with and willing to go
4
one step further to deliver an added
value to your business. They should
be interested in your business and in
the business world in general. The best
accountants are those who are running
their accountancy practice as an SME
themselves and can therefore bring this
experience to bear in advising you.
4) Make sure your accountant keeps
in touch with your business – not just
at year end! If you feel your current
accountant no longer meets your
requirements for whatever reason, get
a new one.
5) Sometimes your accountant will
need to give you tough advice, or tell
you that you’re doing something wrong.
They should be able to do this, and you
should feel comfortable arguing your
corner so that together you come up
with the best result for your business.
6) You should feel comfortable and
at ease talking to the accountant about
the business and any problems you may
have. Your accountant is a key business
partner and should be interested in
helping you to grow your business,
therefore they will want any worries
resolved sooner rather than later.
7) Find out how much the accountant
charges. Is there a fixed monthly fee to
complete all your requirements, or do
hourly fees apply? Compare the fees of
several firms, along with the quality of
service they will provide.
8) Check who will actually handle
your work. Ensure you are happy to
work with this person and that they can
give you and your business the attention
it needs as and when you need it.
Ten issues in Culcheth • Lymm • Great Sankey & Penketh • Chapelford • Stockton Heath & Appleton
Thewlwall, Grappenhall & Latchford • Birchwood • Lowton & Golborne • Newton-le-Willows • Warrington Town