How to get value for money from an accountant

How to get value for money from an accountant

Getting the help of an accountant is the best first step to organising your finances and understanding your business’s money better, but choosing the right accounting firm is vital.

Some accountants might offer services that others don’t, and you may find that one practice’s pricing structure is better suited for the help you require.

To make sure your accounting means profit, here’s what we recommend.

Find the right accountant with experience in your type of business

Not all SMEs are made the same, and finding an accountant who knows how to navigate a business like yours will serve you—and them—well as you move forwards. For example, accountants who have experience with tech start-ups know the challenges that these businesses face and how to best account for their assets (especially intangible assets like copyrights and software).

Explain your expectations and be clear about what you need

Your accountant probably has some good ideas about the kind of thing you’re looking for, but having a respectful conversation with them up front will help to establish expectations.

This also gives you an opportunity to talk to the accountant about any other services they provide, letting you both work out a mutually agreed structure that everyone can follow.

Make sure your records are in order

Keeping regular records is something you can expect your accountant to handle for you, but they’ll probably need you to meet them halfway to begin with. Keeping your data organised and accessible ensures an easier time for your accountant getting their foot in and being able to help out.

Otherwise, you could be paying for a considerable amount of time spent simply trying to get their bearings before any real work can begin.

Communicate regularly with your accountant

Your accountant shouldn’t just be left to work quietly in the background, never to have a line of communication with you.

They’re an invaluable source of information and knowledge, able to simplify complicated processes and shed light on the more tricky financial and legal aspects of running a business. Some of the advice and information an accountant imparts could serve you or your executive staff members for years to come, which is why it’s a good idea to…

Ask for advice about how to maintain your financial records

Your accountant won’t feel like they’re talking themselves out of a job by giving you some sound advice in this area. On the contrary, it can only make theirs easier.

Plus, it shows respect for the importance of having financial records and the work that an accountant does to keep them updated and in top shape.

Review the value for money you receive from your accountant

If you’re really not sure about the return on your investment when it comes to accounting profit, sit down and work out a metric for what you’d consider ‘value’ in return for the money you’re spending.

Establish what you need from your accountant and whether they’re meeting that with the expertise and professionalism you need. If your expectations aren’t being met, then talk with your accountant. There’s a good chance you can set things straight and enjoy a better working relationship henceforth.

Accountants in Manchester

For profitable accounting in Manchester, Salford, Walkden, Monton, Swinton, Cheadle, and surrounding areas, look to MCC Accountants. We specialise in accounting for SMEs and use our broad financial expertise to make business easier, smoother, and more profitable.

To find out more about our services, contact us today.

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