As you enter the new year, you’ll probably be considering ways to make positive changes to your business and ensure that 2020 is a success. One of the best things a growing business can do today to invest in its people, and the right accountant can be a valuable asset to your team and help drive the change you want. In our opinion, there are basic yet fundamental things that make for a good accountant. So, what traits should you look for to find a good accountant?
What Makes a Good Accountant?
When you are choosing an accountant, it can be tough to know who to go with. It does not matter if you are a sole trader, small business, or large limited company. The chances are that you are looking for an accountant that will do more than produce year end accounts and work on tax returns. Trying to pick the right accountant or accounting firm can mean that some aspects of who to work with will be subjective and, no matter who you are, it can take time to get it right. Some of you will want an accountant local to you so you can meet face to face. For others, how well an accountant understands tax laws could be more important. You might want someone who specialises in business taxes, or audits, or managed accounts. Whatever is important to you isn’t the only thing that you should factor.
A principled accountant is someone with morals who will deal with your finances in the right manner. With an ethical accountant and someone with integrity, it helps to build trust. This will be especially important if you are looking for someone who can also deal with your business’ investments.
There will be times that you want to spend but your finances are not in the right position to increase expenditure. A good accountant will be diplomatic enough to be able to speak to you reasonably about the situation and explain why something might not be feasible.
When you run a business, it is likely that you will need to be in regular contact with your accountant. You will have questions, need to check your financial position, and potentially have colleagues that you want to speak to the accountant as well. Therefore, people skills are important. You want conversations to flow and to be speaking to someone who is easy to communicate with.
Accurate accounts are extremely important. This is not just because of the consequences of filing incorrect accounts. It means that you know exactly where you are, as a business, at any given time. Accuracy means that when you are planning, forecasting, and budgeting you are doing so with the correct figures.
Knowledge of the field
You want an accountant that understands the field. It goes without saying that the more an accountant knows about accounting the more they can help your business. You could also look at this factor as their knowledge about your field. Understanding your different sectors and company needs and goals makes them an invaluable asset to your team rather than an outsider who is simply providing a service.
We have mentioned trust already, but it is important. A good accountant is one who is trustworthy. They are dealing with your money and providing advice. You want to know that the information they provide can be trusted and that their advice is focused on your best interests.
Here at CBHC, it’s clear that we understand what it takes to be a “good accountant” but beyond compliance based jobs, we like to focus on how we can help you progress with your goals from a financial standpoint. See some of our team and get in touch with us today to learn about how our services can help you and your business.