A good accountant can help your business in many ways:
- Providing you with timely, reliable, real-time financial information
- Ensuring you pay the correct amount of taxes at the right time and your business stays compliant
- Forecasting future cash flow pinch points
- Tax planning/mitigation
- Helping you think strategically
As your business expands and significant financial decisions are made, your relationship with your accountant will become increasingly important.
Finding a good accountant may seem like a daunting task, but it is crucial for the success of your business. There are several key traits to look for when searching for the right accountant to meet your needs.
What are some key traits that indicate you’ve found a good accountant?
1) They’re excellent communicators
A good accountant should possess excellent communication skills. They should be able to explain complex financial concepts clearly and concisely, making it easier for you to understand and make informed decisions. Effective communication is vital in building a strong working relationship with your accountant and ensuring that you are on the same page when it comes to your business’s financial goals.
A good accountant will take their time getting to know you and your business. This often means being available for regular face-to-face meetings if and when you need them.
2) They’re honest & open
An honest and open accountant will be completely transparent with their fees, often offering fixed fees with no hidden charges.
Your accountant will have access to sensitive financial information, so it is crucial that they are trustworthy and honest.
3) They’re proactive and forward-thinking
Your accountant should not only be able to handle your current financial needs but also anticipate any future challenges or opportunities that may arise. By staying ahead of the game, they can provide valuable insights and advice to help your business thrive and adapt to changing market conditions.
They should be meticulous in their work, ensuring that every number is accurate and every financial statement is error-free. This attention to detail is essential in maintaining the financial health of your business and avoiding any potential legal or financial issues.
4) They’re digitally literate
In today’s digital age, technology plays a significant role in accounting practices. Look for an accountant who is proficient in using accounting software and is up-to-date with the latest technological advancements in the field. This will ensure that your financial records are accurate, organised and easily accessible whenever you need them. It will also ensure a smooth transfer over to making tax digital.
5) They’re knowledgeable & experienced
Last but not least it’s important to ensure that your accountant is skilled at what they do! Take a look at their reviews, and case studies to find out how they have used their knowledge to help other individuals and businesses.
Anyone can call themselves an accountant, so it’s also important to choose an accountant who is a member of a recognised professional accounting body (ICAEW or ACCA). This will give you peace of mind, knowing that your financial information is in safe hands and that their team is highly trained and up to date.
Your accountant is essential for the growth and success of your business. By considering key traits such as attention to detail, communication skills, proactiveness, integrity, and tech-savviness, you can find an accountant who will not only save you money but also become a valuable partner in achieving your financial goals.
At 360 Chartered Accountants, we have developed our services based on customer feedback. We know what will be important to you and your business no matter which stage of the business lifecycle you’re in.
You can visit our accountants in Hull or email help@360accountants.co.uk to find out more.
