You’ve probably heard it lots of times but a good accountant really is worth it’s weight in gold. We would suggest that you try and engage the services of an accountant as early as possible (and maybe even before) you start your new venture. It’s always important to remember that a good accountant does more than just “do the books”, they can also be a great source of support and advice as your business hopefully grows. We’ve also given you a few other pointers below:-
Ask for recommendations
Dont be afraid of asking other businesses you know (or indeed your friends and family) if they know any accountants that they would be happy to recommend. Try and speak with or visit at least two or three different accountants before coming to any sort of decision.
Dont be afraid to ask questions
People always seem a little bit nervous of accountants but there’s no reason to feel like that. You need to get on well with your accountant and feel that you can ask them questions. During the initial fact-finding stage you might want to find out things like what their fee structure is, what type of businesses they tend to work with (it’s always good to get an accountant that has experience working with smaller businesses) amd maybe even ask them if they could put you in touch with a few of their current clients so that you can approach them for some feedback.
I think it’s also important to mention that some businesses prefer just to use an accountant to do statutory filing etc and then use a book-keeper or a financial type person to do the more day to day transactional duties. This is also fine and it really is what suits you and your business best.
We hope that we’ve covered the basics and that this at least gives you some pointers. Feel free to share any suggestions that you may have as well in the comments section.