When it comes to choosing an accountant, you're looking to build a business relationship with someone, who ideally you're going to be with for long haul.
Of course it’s possible to switch and change, but it's not ideal, so it’s definitely worth putting in the groundwork right from the start so you can find the right solution.
Here are some of the main considerations when it comes to choosing the right accountant.
The fit
The first consideration is the fit.
Think, are you happy discussing the inner workings of your business with the accountant you’re considering? Would you be comfortable asking them various questions about your accounts and would they explain things in a way that you understand? Do they appreciate the general ethos of what you're trying to achieve with your business?
Credentials
In short, is the accountant you’re considering up to the job?
In this video I explain that accountancy isn't actually a regulated profession, which means anyone can potentially call themselves an accountant. So you might want to check they’re a member of a professional body.
The level of support
It’s important to think about what support you’ll need.
Remember, you don't need to have an accountant. So start considering what's required and whether your potential accountant can support you with what you want now.
And also perhaps more importantly, coming back to the idea of building a relationship with someone, can they support you going forward with where your business wants to be? There's no point in working with someone who will be great for a year or two and then suddenly you’ll have to swap and change. So try and think a bit longer term.
Often people phone me up saying they're looking at changing accountants and I always suggest that, before they do, they speak to their current accountant. You might have actually outgrown the package your accountant currently offers you and the support package you're on, rather than the accountant themselves.
It stands to reason that you might have when you’re just starting out you try and get your accounts done as cheaply as possible, with minimal support. And as you grow you'll likely need more support and therefore will need to upgrade your service.
So have a chat with your current accountant, it might save you a lot of bother.
How do they do business?
Is the way the accountant your considering does business compatible with how you want to work?
Do they support the systems you use or are you going to have to change?
It's not necessarily a bad thing to change your systems but if there's no real reason for it and you're happy with the systems you're using, factor in the additional hassle of swapping systems and weigh up whether it’s really worth it.
Think about things like whether or not you have to visit their office, will they come out and see you, or can they do web calls and phone calls? Do they work in a way that’s compatible to how you want to work?
Basically, it all comes down to the fit of the accountant with what you want to achieve and the ethos of you and your business.
Let me know in the comments if you have any questions.
