Choosing an accountant

Possibly the most intimate professional relationship is the one between a business and its accountant. So finding the right one for you is important...

Your accountant knows all your financial secrets. You rely on his or her skills to not only balance your books but also to reduce your tax bills while keeping you on the right side of the law. You can use their expertise as a source of business support and advice.

So it is important to find an accountant who is not only good at his or her job but who you can work with.

As with any professional adviser, it can be difficult to sort the good from the bad. It goes without saying that you should check that the accountant you plan to work
with has the appropriate professional accreditation, but what else can you do?

 

First steps to finding an accountant

A friend or an acquaintance

The most reliable information is personal knowledge. If you know an accountant well enough to make a judgement, fine. However, a word of warning: employing personal friends may be a mistake. It may deprive you of the independent advice you need. It may also prejudice a friendship.

A personal recommendation

Another way of finding an accountant is through a personal recommendation from someone who knows the accountant well, or someone or some organisation whose opinion you trust. So ask friends, colleagues, your bank manager, business support organisations whom they would recommend and if possible, what services they would recommend for you.

 

Define your needs

Before you contact anyone, sit down and decide what you really want. Once you begin meeting people, they will start offering services you never asked for. You must be clear in your own mind about the sort of service you want. You may also consider whether you want:

• Large or small. Big is not necessarily beautiful. A large accountancy firm might boast all the big experts and contacts, but they may be no good to the small business which gets palmed off on the office junior

• Generalist or specialist. Many accountancy firms are increasingly specialist. Do you want a general accountant who deals with a wide range of different businesses or someone who specialises in your industry sector? If there are particular tax issues relating to your industry, it may be worth finding an accountant with particular experience 

• Local or big city. Modern communications mean you can use the best brains anywhere in the world. However, there is no substitute for personal contact when it comes to getting things moving. Email is counterproductive, when all one gets is excuses for not doing something regular face to face meetings would easily achieve.

Be fussy when selecting an accountant

Track down the accountants with a reputation in your area or industry. Look at the local papers and the trade magazines. Look particularly at who is hiring new people and what their specialities are. Ask around colleagues in the same area.

If that yields nothing, start going through Yellow Pages or check out the internet.

Approach several firms at once to find out which one really wants your business. Set up an informal tender process. Prepare a questionnaire. Ask them for information about size, specialisation, and experience. Do not tell them exactly what you want until they have told you about themselves - otherwise they will simply say what you want to hear to get your business.

Ask for an informal first meeting without charge. Remember, they should be selling to you. If they are not willing to make the effort to understand your business, do you really want to work with them?

 

Test the market

Finally, if you are uncertain, give a prospective accountant part of your work and see how they cope. If the relationship develops well, give them more.
If you have enough work, you can even consider splitting it, for example, using different accountants for audit and tax consultancy. Tell them you are doing it - it keeps everyone on their toes.

If you'd like to search our database of accountants who can support the Business Manager and Business Essentials software packages, including QuickBooks or Sage you can do so using our online directory.

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