What to expect of your accountant
What to expect of your Accountant
We all know, from working with tradespeople to real estate agents, there are big differences in performance between the best and worst in any profession.
So, what should you expect from a good accountant?
Here are 5 qualities to look out for. In fact, you should demand them.
1. A high level view of your business.
Your accountant should be able to discuss your structure, business plan and strategy and give you guidance on changes you can make to improve your bottom line. If they just respond to your suggestions, or only focus on the detail and not the birdseye view of how you’re operating your business, you’re missing out on the strategic knowledge a good accountant can provide.
2. Business success in their own right.
You want to take advice from someone who has faced the same challenges as you and successfully overcome them. A good accountant should be successful in the areas that they are advising you in. How efficiently is their business run? How many long term clients do they have? How have they grown? Make sure you are working with someone that practises what they preach.
3. Proven financial mastery.
Your accountant should be be able to help you make the best use of your cash and other key resources. They should have a CFO like understanding of cashflow, investment, profit and other financial concepts that come from extensive education and practical experience. Grill your accountant on their training and experience to make sure they can help you master all the financial variables in your business.
4. Current knowledge.
Tax and commercial law are constantly changing. It’s important to work with a diligent, energetic accountant who stays on top of the frequent changes and pro-actively advises you on how to take advantage them. There are few things more frustrating for a business owner than a passive accountant who doesn’t offer useful suggestions of their own.
5. Personal chemistry.
Your accountant will be a trusted adviser and potentially a friend in the years ahead. Make sure you work with someone you like and would want to spend time with. The better your relationship with your accountant, the happier you’ll be.
If you’re looking for an accountant who embodies all these qualities and more, call us for a free, no-obligation consultation today.