Mistakes You Make When Working with Your Accountant
Posted 03 Apr 16
One of the most important relationships in life of every business owner is one he/she has with their accountant. In the best case scenario, this relationship will allow you to structure your finances better, focus solely on the development of your business without worrying about missed deadlines and unfilled documents and create a powerful future for your company.
At Tawanda Accountants we have a mission of making your business life as stressless as possible by keeping on top of your business’s finances and make sure all the bookkeeping is done on time.
However, sometimes working with your accountant might not be going as well as it should be. It is important that before making any decisions, you identify the problems which have occurred and discuss them with your accountant. In some cases, the fault lies in their incompetence and the only choice you will have if you wish to maintain a successful business is finding a more suitable accountant for you. However, there might be another reason why you fail to communicate clearly with your accountant and in this article we present you with mistakes you might be making when working with them.
1. Demanding things your accountant doesn’t specialise in
Although it is not your responsibility to understand the accounting and bookkeeping, it is important that you understand the role your accountant plays in your company. Often, inexperienced business owners expect their accountants to take care of all areas of their businesses, even the ones they do not specialise in, such as business planning or marketing. The simplest way to solve this problem is by reviewing the contract between you and your accountant. Which responsibilities belong to your accountant and which of them would be better taken care of by a lawyer or a business consultant?
2. Ignore the advice
A number of problems can be prevented and it is likely that your accountant will spot them before you do. That is why we recommend you do take your accountant’s advice into consideration when making financial decisions, especially the risky ones. If you’re confused about why your accountant recommends you a specific strategy, ask them to explain their reasoning.
3. Not organising your paperwork
It is understandable that you might have doubts about how valuable some receipts and documents are to your bookkeeping, but in many cases young business owners tend to bury their accountants in tons of paperwork, shortly before the filing deadline. The more organised you become when bringing your financial paperwork, the better the change of creating a strong financial strategy for your business.
Hiring an experienced and professional accountant and maintaining a clear and unambiguous relationship with them can hugely benefit your business. At Tawanda Accountants we provide our clients with superior accounting and bookkeeping services and ensure that our clients never worry about a missed deadline or unfilled document and instead, focus all of their attention on the exciting experience which is running your own business. Contact us today to find out how we can make your company more successful.