If you are a start-up owner, chances are you’ve considered hiring an accountant to help you with your increasing profits. Big firms will process your tax returns and then move onto the next client, and you may find you get passed around different consultants.
Smaller accounting firms will provide a far more personal service, give you advice and keep your best interests at heart. Making sure you choose the right accountant will make a big difference to where your business goes.
Make sure you choose an accountant with the right qualifications. Being a qualified accountant means you will be an expert at the most up-to-date client needs, such as Xero cloud accounting. There is, unfortunately, nothing to stop unqualified people from setting up a practice, and you should steer clear from those.
Check what your accountant holds certifications in: All the better if they have a specific e-commerce badge.
An accountant who usually only works with builders may not be the best choice for your new online clothes shop. Ideally, you should select an accountant who understands your industry because they will then be more keyed into the potential pitfalls and money-savers.
When you are assessing your potential accountant, make sure they will actually provide all the services you need. Some accountants only do bookkeeping and some only file tax returns. Work out exactly what services you need help with, and then decide whether the accountant you are looking at can accommodate you.
For e-commerce, it makes sense to use an accountant who is also in the 21st century. Cloud Accounting will simplify your e-commerce processes through updating information in real-time, allowing you to access your accounts far easier, offering automatic data backups (no more lost details!) and even allowing integrations with e-commerce platforms like Amazon.
Not all accountants are on this kind of software, so it is important you make sure you find one who is.
A good accountant won’t actually cost you anything due to the amount of money they save you. Value for money doesn’t just mean cheap, it means they will effectively save you that money. Shop around, check the prices against the services and then work out whether that accountant will be worth your investment.
Speak with other local business owners in similar fields to you. Find out which accountant they use and how they find the service. Reading reviews is a strong way of working out whether an accountant is as good as they say they are. If you have questions about a review, ask your accountant and find out!