How To Find An Accountant For Small Business

How to find a good accountant

Updated 27 January 2022

5min read

Find the right accountant in moments using the Unbiased Connect tool.

If you run a small-scale business or are otherwise self-employed, and so having an accountant tin bring many advantages. At the about basic level, your accountant can free up more of your time by handling cardinal functions such as bookkeeping and tax returns. As your business organisation grows, your auditor's input will go progressively more significant, covering essential areas like financial reporting, compliance, payroll, tax efficiency, concern planning and more than.

To a higher place all, a good accountant provides you lot with the reliable financial data you need to brand key decisions, helping your business organisation to grow faster while saving you money.

Do I need an accountant for my small concern?

Unless your business remains very pocket-size, its accounting requirements will quickly get too much for you to handle alone. Furthermore, if you are non a trained accountant, this can be costly both in time and money, as yous will take longer and may make costly mistakes. Broadly speaking, if you discover you are spending more than than four hours a week on the accounts, or have plans for growth, then it is fourth dimension to engage a professional.

What can an accountant do for my business?

Having an accountant frees up your time and so yous tin can focus on what you practise best. It likewise cuts the risk to your business organisation past reducing the likelihood of errors in tax, financial reporting and compliance. An accountant can besides actively save you money in many areas by increasing tax efficiency, improving greenbacks flows and sourcing funding. In addition, he or she can provide invaluable general support by offering general business advice, discussing your ideas and stress-testing business plans.

Here are some of the services your accountant can provide.

Accounting
Helping you pay the right amount of tax
Improving revenue enhancement efficiency
Financial compliance
Creating / developing your business plan
Sourcing funding for growth
Growth direction
Extracting value from your business
Exit planning

Find out more near bookkeeping services.

Finding an accountant

There are two ways to find an accountant on Unbiased.

The starting time manner is to use our Connect tool. But give every bit much detail as you can about what you need, and our arrangement volition match you with the nearest suitable accountant.

The second way is to search and browse. Enter your postcode to see a list of accountants in order of altitude from yous. Y'all can then refine your search (e.yard. to find accounts with specialist expertise).

Is this accountant right for me?

Be certain to see your accountant in person before engaging their services. Yous will exist working closely together, so a personal connectedness is of import.

Enquire about their range of services to ensure that they can run across all your needs. This is also a practiced time to talk near their qualifications and experience. It is not a legal requirement for an accountant to concord any qualifications, but you should ensure that yours is qualified through i of the recognised Great britain bodies, e.g. ICAEW, ICAS, CIMA or ACCA. Also find out if they are a chartered accountant – chartered status is an internationally recognised level of professional standing.

Near accountants will brandish their certificates in their offices. You can also double-check past contacting the relevant organisation.

You should also discuss your accountant'south fees. An accountant'southward job is to relieve you money overall (while protecting you from certain risks), then ask them to explain the ways in which their services will deliver value. How much you pay your accountant volition depend on the extent of the services they provide you with. Your method of paying may also vary. Some services (such every bit annual accounts and bookkeeping) will involve a regular monthly fee, while others (such every bit tax planning advice) may be charged by the hour. The size of your business organisation is also a gene, with larger businesses paying more than.

Discover out more most the costs of accounting services.

One-person band, small firm or larger business firm?

Consider carefully if the size of your bookkeeping firm is right for your needs. Broadly speaking, yous should match similar with similar. Therefore, if you are a contractor or sole trader then a small house volition probably adjust y'all best, but if you are a fast-growing startup with a big vision, you will be looking for a medium-sized firm to match.

Reviews, testimonials and reputation

Sites such as Trustpilot will let yous see ratings and reviews for bookkeeping firms listed there. Look for reviews past businesses of a similar size to yours - if the reviewer is much larger or smaller, their cess may not be very helpful. An accountants should also have testimonials from their clients that they are willing to share with you lot.

Does the location of your accountant thing?

Technically it doesn't matter too much where your accountant is based, since nigh of their work can be conducted remotely. Withal, regular contiguous meetings are nevertheless valuable, and tin be much more productive in terms of getting added value from your accountant. In a face-to-face meeting information technology is easier to discuss your business in broader terms and benefit from general business advice. Therefore, if you want more than basic accounting services, it's good to be within easily travelling distance so your auditor can visit in person.

Questions to ask an auditor

i. What do you accuse?

Fees are an obvious identify to starting time. However, information technology'southward important to weigh them against what services are included, and what value these might add.

2. What services are included in your fees?

Getting an itemised quote from your accountant volition make it easier to compare them with other firms.

3. Why should I choose yous rather than another accountant?

Virtually bookkeeping firms will of course try to persuade you to choose them. Merely compare their diverse answers to this question to see who responds with something more marketing spiel.

4. Will yous assign a dedicated accountant / contact person to me?

Generally it is meliorate to have i point of contact with your accounting house, fifty-fifty if more than i accountant is involved in the work. This provides continuity, builds a relationship and reduces the take a chance of errors or missed deadlines.

five. How will we go on in impact?

A adept bookkeeping firm should exist very rigorous about communicating with clients. Decide together how often is it necessary to communicate, and what forms this tin can take – e.one thousand. face-to-face meetings, phone calls, video conferencing. The house should be open to regular meetings even if at that place seems to be nothing particular to discuss, equally problems may get unnoticed until raised in conversation.

6. What issues should we hash out regularly?

Post-obit on from betoken 5, it is a good idea to get your accountant's views on the matters that you should exist considering on an ongoing basis. Issues might include financial reporting, tax planning, credit control and cash menstruum direction.

vii. Are there any special considerations for my blazon of concern?

Asking this question will help you find out how much industry knowledge your accountant has, also as being useful in itself. Ideally, you want an accountant with lots of experience of very like types of business, so they are well versed in the risks and opportunities.

viii. What additional services exercise you provide?

As your business grows, y'all may want to expand the range of services you receive from your accountants (east.g. funding for growth, R&D tax claims, . Find out in advance whether your chosen firm offers the necessary expertise, so yous don't have to move firms when you calibration up. It's also skillful to notice out how your accountants volition add value on a day-to-twenty-four hours basis.

9. What are the near mutual mistakes your clients make?

This is a good style to benefit from your auditor's experience of similar businesses, so yous can avert those pitfalls. Conversely, if they don't requite you much of an reply, it could be that they don't have the level of experience yous're looking for.

10. How will you lot make sure I don't miss deadlines?

Helping you stay on the right side of HMRC is one of your accountant's most important roles. An auditor who is on the ball volition be ready and eager to remind you lot of all your obligations, rather than expect you lot to remember.

Did you find this article helpful? Then yous might also find our manufactures on how to change accountants and how to become an accountant informative, too!

Let us match you to your
perfect accountant

Source: https://www.unbiased.co.uk/life/get-smart/accountant

Posted by: parrishthicamewyn1960.blogspot.com