How to get the best from your accountant.

If you are like many business owners, you out a great deal of trust in your accountant when managing your financial affairs.  But not only that, your chartered accountant provides information on what you must do to comply with the myriad of compliance and legislative requirements you need to follow.  They also play a vital role in improving your business’ performance as well.

Who else can substitute for your accountant in understanding your financial affairs? Who else is more knowledgeable about the performance of local business in your community and similar businesses in today’s market place?

Every business owner has their own way of establishing a business relationship with their chartered accountant.  Unfortunately, many of them do not seek to draw on the range of skills and services that their accountants offer.  Many only visit their accountants only once or twice a year to drop information off for their tax returns.

To help achieve genuine long term success, business owners should set their expectations and discuss them in detail with their accountant.  Many accountants not only prepare their clients’ financial statements and tax returns but are also experienced business consultants as well.  It has been proven, that in a business where the owners and accountants work closely together tend to see revenue improvements and greater financial control.

The good thing is it is not too late to establish a good relationship with your accountant.  Make a list of the names of the accountants available in your area and research them. Ask your friends and colleagues’ if they have suggestions.  Establish what services the accountant offers and whether or not they serve the purpose of your business.  Then develop a short list of 2 or 3 accountants who you think you can build a strong working relationship with and telephone them.  You should quickly gauge if you want to work with them.

Remember, choosing  the right accountant may make all the difference.  At Business Advisory Accounting & Tax Services, we aim to make the difference.