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Choosing a good accountant

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Choosing a good  accountant should be a time consuming process. It isn’t something you should rush into; yet that’s exactly what many people do.Think about it – the person you hire is going to be looking after your business and your personal matters. They will know everything about your finances which means you need to be able to trust them.

Not all accountants are as qualified as you think. Therefore qualifications should be the first thing you look at. This is just one thing you need to consider before deciding who to hire.

Things to look out for

When it comes to qualifications, search for accountants that gained qualification through the Institute of Chartered Accountants, Chartered Institute of Management Accountants or the Association of Chartered Certified Accountants.

These bodies will hold any practising member to account if they don’t carry out good practice. This gives you a peace of mind that the accountant will have your best interests in mind.

The top things to remember when looking for an accountant include:

  • Take your time
  • Consider your needs
  • The costs involved
  • Do you actually like the accountant?

Taking your time to find an accountant is the number one tip to follow.accountant Many people make the mistake of trying to find an accountant right before the tax deadline. This causes them to rush into choosing the first one that comes along. By taking your time you’ll get to compare different accountants and find the one that best suits you and your business.

Choose wisely

You need to fully think about your business needs – if you’ve just started out and you’re a fairly small business, you may want an accountant who can take you through things step by step. In this situation it would be a bad idea to opt for a company that mainly deals in multi-nationals. Think about what you really want from your accountant and create a little list of must have qualities; this will make your search a lot easier.

Accountants costs

The costs are something else you really need to think about. Each accountant will charge a different amount. Do they charge an hourly rate or are the fees fixed? It’s typically best to opt for fixed price services as that way you know exactly what you’ll be paying and there will be no surprises at the end of the year.

Finally, you need to actually like your accountant. Before you actually choose someone to work with, arrange consultations. Most accountants offer a free consultation to discuss your needs. They will tell you how they can help and you will get a good idea of whether they are a good fit or not. Try to have a consultation with at least three different accountants.

Choosing an accountant is a big step and it isn’t something you should take lightly. While it’s good to go with personal recommendations, it’s important to note that you may have different needs to friends and family. Therefore whilst one accountant might be perfect for them, they might not be the best choice for you.

 

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About Jemma Porter

About Jemma Porter

Jemma Porter is an experienced content creator who has written for a number of online publications. A self-confessed penny pincher; she's often found seeking out the best personal finance deals.

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