Reasons to Switch Your Accountant
Posted 10 Apr 16
In our previous articles we emphasise the importance of a good relationship a business owners should have with their accountant, we discussed the factors influencing it and ways in which you can fix certain miscommunication problems, as soon as they occur.
However, there is a number of problems which might immediately write off the accountant you are hiring. These issues revolve around the idea of mutual trust, fulfilling the responsibilities quoted in the contract and understanding the aims which need to be completed in order for a business to develop in a successful way.
Switching accountants is a big decision and before you make any steps towards it, we always recommend you discuss your plans with your accountant first. If, however, you believe the matters you named as problematic haven’t been fixed, you should not let your company down by working alongside an accountant you consider unprofessional.
In this article we will take a look at the reasons you should hire a new accountant.
1. Lack of solutions
There are expenses a lot of business owners are not aware of which can help the save money on their taxes and it is the responsibility of your accountant to help you understand which expenses are they. A professional and experienced accountant will offer you valid advice on tax planning and managing your finances better. If you feel you’ve been left in the dark with your taxes, the accountant you are hiring is not fulfilling their fundamental responsibility.
2. They do not explain things clearly
As a business owner you will have the responsibilities of your own when it comes to finance management and in order to fulfil them, you will need to understand what they are. It is fine for you not to understand the legal and accounting matters revolving around your business, however, your accountant should aim to help you feel more familiar with the jargon of both. If you think your accountant is purposely keeping information away from you to seem more valuable or is failing to explain what is expected of you in a clear way, the miscommunication between both of you can lead to disastrous consequences for your company.
3. They have no experience
One of the most common mistakes business owners make is hiring an accountant based on the prices they charge for their services. Often, a good accountant will offer you great value for the money they charge, but in no circumstances money should be the main factor determining your choice.
A lot of accountants out there do not have an experience in dealing with small businesses, this making simplest mistakes when planning company’s financial future. To avoid any penalties and bad decisions related to managing your business finances and taxes, hire an accountant who specialises in helping businesses like yours. At Tawanda Accountants we have a great portfolio of small business clients and we pride ourselves in being up-to-date with the latest solutions for sole-traders and business owners alike. If you would like to find out how we can help your business grow, contact us today.