June/July 2017
35
GM BUSINESS connect
finance
How to Choose an Accountant Choosing the right accountant to manage your personal tax affairs or the many financial elements of your business (such as audits, payroll, tax or management accounts) can be a difficult decision. There are so many elements you must take into consideration to ensure the firm you choose are the right fit for your business. They must be able to match your needs and budget, as well as have a team providing a personalised service that you are confident in. So, in this issue, Les Leavitt, Managing Partner at local firm LWA, has provided an overview of essentials to look out for when choosing an accountant, and how to get the most from them going forward, which you can use as a checklist for finding the perfect match for your business.
Communication is key • Ease of contact - being able to easily contact your accountant is
of utmost importance, whether it’s to answer a pressing question about your accounts, or simply get some advice and guidance on a new legislation initiative set by the Government perhaps.
• Jargon free - when it comes to communication, most importantly, it needs to be jargon free. The best accountants understand that complicated terminology can be confusing and difficult to understand, particularly when busy business owners don’t have the time to decode each email or conversation. • Be local - ideally you want an accountant that you can meet with face to face when needed, so choosing a firm in a location near to you is ideal.
Yes, emails and telephone conversations are useful, but sometimes a meeting is necessary, particularly in the initial stages of bringing an accountant on board. • Personal relationships - nobody likes to be passed from pillar to post, and building strong client relationships is essential when it comes to understanding client needs. Therefore, you should find out which member of the team you will be dealing with, and if they will be your permanent account manager going forward. This way, you can be confident your dedicated contact for the service you are utilising has a genuine understanding of your needs and requirements.
A proactive approach • Ideas and suggestions - rather than just providing the services you have requested, look for an accountant who will regularly suggest new tax-saving ideas and concepts which will benefit your business. After all, they are the experts! • Commercial awareness - you need an accountancy team with whom you can talk openly and honestly about your business ideas and goals. By gaining a genuine understanding of your business, your accountants can then tailor their services to your long-term aspirations. • Regular updates - visit the website of your desired accountant to see how proactive they are when it comes to regular updates and informative content. Do they have an expert blog or issue a helpful newsletter covering key topics? It’s likely that if an accountant’s online presence is informative, engaging
and helpful, their service provision will follow suit.
A value-added service • Face-to-face - do they offer an initial consultation free of charge? Meeting face-to-face can really help when it comes to determining the needs and requirements of a business, in addition to beginning that allimportant personal relationship. • Accreditations and testimonials - for peace of mind, it helps to choose an accountant which is regulated by a professional body, but look out for any other accreditations which contribute to the credibility of the firm. Does the firm showcase case studies and client feedback? • Variety of services offered - as well as ensuring the accountancy firm offers all of the services you require, look into the variety of other services they offer which may benefit you in the future. Your accountants should help you grow, and as you grow, so will your list of requirements, so make sure they have the capacity to look after your needs going forward. Having the right accountants in place should save you time and money, ultimately making your life easier.
Les Leavitt Leavitt Walmsley Associates Chartered Certified Accountants www.lwaltd.com
