If you’re running a company, you’ll want to be able to focus on making money. The last thing you’ll want is to spend all your time performing admin tasks and rifling through endless paperwork. Invoices and accounting can be a large part of this. It’s essential that everything is recorded and collated correctly. Tax forms need to be submitted on time, and the data needs to be accurate. Should anything go wrong there could be financial penalties or issues during audits.
It may be that you are in need of some outside help for your business. Perhaps you are thinking of employing an accountant, but don’t know which way to turn. This article has been written to help you find the most suitable professional for your company’s needs.
Before choosing one, perform some background checks. Most financial professionals have an online presence, so this should be your first port of call. MCL accountants provide free quotes over the internet, and also display a selection of customer reviews. They are Chartered Certified accountants based in Southend-on-Sea, and have received favourable reviews and accreditation.
You could secure an unqualified bookkeeper to do your daily accounts for you. This could save you money, and they may also be able to help you with your tax return. Some people prefer to have everything done by a fully qualified accountant, so they have total peace of mind. To be Certified and Chartered the person will have had to undergo extensive training, and to have acquired practical experience too. Having said that, make sure the accountant is able to perform all the tasks required for your business. This could include advice on taxation, payroll and business support.
Find out how long the accountant has been in business, and whether they work for similar companies to yours. You’ll be paying them by the hour, so you won’t want someone who has to look things up every time you ask a question. If you select the right person they will cope with your company if it grows, and be able to provide helpful tips and recommendations.
If you dislike computers, you may want a local accountant: then you can drop off piles of invoices or have a quick chat during your lunchbreak. Alternatively cloud accounting might be attractive to you. You can send and receive emails, and have videoconference calls when you need them.
Don’t just choose someone who will sit down and do what they’re told. Find someone who can advise you on possible tax benefits or ways to streamline your finances. They might be able to assess the way you run your company and identify specific areas for improvement.
You’ll be communicating on finance, which can be a sensitive issue. Make sure they are approachable and a clear communicator, and be sure you can trust in them to do the job properly.
Author: Isabella Goode
Jackie Groundsell is known as the queen of women's business networking lunches - the connector. She supports thousands of small business owners through her events and lunch-time meetings