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Questions to ask when hiring an accountant for your small business

Posted 24 Jul 16

Finding a good accountant can be a daunting process, especially for company owners who start their first business. Scanning through pages of Google results is a pointless task if you don’t have a clear idea of what exactly you are looking for in the candidate.

So to help you find the right accountant for your business, we have created a list of questions you should ask before you hire him or her.

What do I want from an accountant?

One of the most important questions every business owner should ask themselves before making any decision is “what do I want from it?” May it be a business transaction you are entering, an investment strategy or a business relationship, it is important that you have some fundamental expectations to understand what terms you might expect and demand.

The same principles apply to finding the right accountant for your business. You need to be able to determine what your accounting needs are. Your company or the trade it is in might require an accountant who specialises in a certain field. Or your company is currently going through a problematic period and you hope to develop a new financial strategy.

Once you understand what you are looking for in the prospective accountant, you will be able to make a better decision and grow your business successfully.

Financial strategy

Although your accountant isn’t your company’s financial advisor, they might provide you with valuable advice based on your individual situation. A good and experienced accountant will be able to guide you through the ways in which you can reduce your taxes by claiming the right expenses you make as a limited company. They will also be able to give you an insight into your company’s finances and help you make better investment decisions.

Business Challenges

Some accountants, like Tawanda Accountants specialise in doing accounting and bookkeeping for companies. This means, we are up to date with the current legal and market side of running a business. Because of that, our clients never miss an important deadline or a change that will affect their businesses. We will be able to determine potential risks your company might be going through and analyse the economic weather it enters. This helps our clients avoid any conflict of interest and to fully comply with laws and regulations set by HMRC and Companies House.

Why should I hire you as my accountant?

But at the end of every business relationship is the human aspect itself. The most important reason why you should pick one accountant over the other is the ease of communication with them. If you are not able to reach your accountant when you need their help or when the language they are using is incomprehensible to you, you won’t be able to benefit from their help.

As a business owner you won’t have to understand accounting and bookkeeping in order to run a successful business, but you will need to understand your accountant to do so.

If you want to find out if Tawanda Accountants is the right accountant for your business, contact us today.