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Searching for an accountant can be overwhelming. With so many to choose from, it’s hard to know who will be the best fit for your needs and who you should avoid at all costs. Here are five things to look for in an accountant that will help your business run smoothly and keep you out of trouble with the tax authorities.
1) Trustworthy
If you’re going to hand over your finances, it’s important that you trust your accountant. Whether you’re an entrepreneur or run a household, there are just some conversations you don’t have with just anyone. In other words, not every accountant is right for every business or family. Once you find someone trustworthy, take note of what they do differently from other accountants so that when you do seek out professional help again, you can look for someone with similar qualities.
2) Professional
A professional is someone who has received additional education and training. Anyone can call themselves an accountant, even if they’re just doing basic bookkeeping at their own company. When you’re looking for accountants North Wales, find out what their credentials are. It’s one thing to have an accountant willing to work with your business; it’s another when they are able to provide expert insights about it.
3) Knowledgeable
An accountant should know your industry and market and be able to offer insight and advice based on that knowledge. You want someone who is not only qualified but also experienced with accounting issues specific to your industry. For example, if you’re starting a new business, you need an accountant who has experience working with startups; otherwise, they may not be sensitive enough to your needs or offer helpful suggestions. And it goes without saying that you want an accountant with strong technical skills (e.g., balancing ledgers, preparing financial statements). It’s generally worth paying more for an accountant who knows what he or she is doing—it will save you time and money in the long run.
4) Affordable
Look for an accountant who’s efficient, not only with their work but also with your time. If they’re regularly running late or missing deadlines, then you may want to find someone new. It’s important that you communicate regularly and quickly with your accountant so that both of you are on track. For example, if they tell you that some paperwork is due by next week, then do what you can to help them meet that deadline – maybe that means sending them information early or contacting people directly yourself. Remember, too much back-and-forth will delay your progress – try not to be a source of bottleneck!
5) Efficient
An efficient accountant is one that provides you with insights into your business. You can feel an air of efficiency when speaking with them; they’re concise and clear in their language, and they don’t talk down to you (even if you haven’t got much experience). Their time management skills are second-to-none, which means they’ll rarely miss deadlines or make unnecessary calls. Good businesses understand that time is money; they won’t waste yours by being inefficient or wordy. If it’s true that time is money, then every hour an accountant spends on your case is effectively another dollar from your bank account—so efficiency should be a top priority.
