Choosing an accountant is like choosing a new business partner. Finding the right accountant for your business can be crucial to its success. It’s important to find an accountant who not only suits the needs of your business but someone who you can also develop a strong, positive working relationship with. It is always within your best interest to have an experienced, capable person handling one of the most important areas of your business – your finances. The right accountant will save you time and money year after year. Here are some things to consider before choosing the right accountant.
When might I need an accountant?
You are likely to need an accountant when you are:
- starting, buying or selling a business
- expanding your business
- you have problems with creditors or debtors, or managing finance, expenses or stock
- you employ staff
Seeking the advice of an experienced accountant is beneficial for anyone running their own business (whether that be Sole Traders, Company Directors, or Trusts).
How can the right accountant help my business?
If you run your own business, an accountant can help you set up and maintain your financial records, as well as meeting your tax obligations. The right accountant can also offer advice and guidance on your accounts as your business grows.
They can help with:
- setting up accounting and bookkeeping software
- setting up the legal structure of your business – for example, as a company, corporation, partnership or sole trader
- applying for an ABN or ACN
- dealing with the ATO on your behalf
- profit, loss and forecasting
- paying staff and/or contractors
Where can I find the right accountant?
A good place to start looking for an accountant is online. Use Facebook, LinkedIn, or other online networks to delve a little deeper into each accountant’s background and find out things like:
- What kind of experience do they have? And, is this suitable to my business’ needs?
- What qualifications do they have? And, are they a chartered or certified accountant?
- How long have they been in business?
- What additional services/staff do they have on board? Bookkeepers, administration, or something else?
- Are they enthusiastic and interested in their work?
- What recommendations/reviews do they have?
- Do they offer complimentary initial consultations and obligation-free quotes?
Making the BIG decision
When meeting an accountant for the first time, consider your intuition. Alongside logical evaluations such as location, pricing, experience and references, ask yourself if you could trust this person with the intimate details of your business. Use your initial meeting to discuss what they value as a business owner and how they see themselves helping to support the longevity and growth of your business. If you think you could work with them, and their team, for the foreseeable future then that’s great! You’re going to need the right accountant who you can trust, who has the necessary experience and who will be there when you need them.
To discuss how Lana and her team at Matovic Business Accountants can help your company grow, by managing complex financial work and offering advice on practical business issues contact us at info@matovicaccounting.com.au or call us on (07) 3557 5721. We would love to hear from you about your business and would be happy to arrange a complimentary initial consultation to meet you and discuss your business in detail.
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