Questions to ask an accountant
Posted on 30th July 2021 at 14:16
Ensure you make an informed decision when choosing your accountant; this is a relationship of trust so you need to feel comfortable that you receive the type and level of service you want at a price you can afford.
Most accountants like Godfrey Holland offer an initial consultation; as well as discussing your immediate tax and accounting position consider asking some key questions to get an idea as to how any future business relationship will be structured.
1. Ask about the accounting firm, their background. How long they have been established, the different types of accountancy work they deal with, the size of the office in terms of staffing. This information will provide you with an idea as to how comfortable you feel with the firm.
2. Check how accessible your accountant is. If they are local to you or your business, can you call in when you need to?
3. What level of service is provided – just the accounts/ tax return/ payroll production or will you have the ability to ask questions/resolve queries along the way?
4. Who will be your point of contact, will it be the person you are in contact with initially or will there be a team of others and if so how do you raise queries?
5. How the accounting work is billed, is it a set price for annual work or for each piece, agreed in advance, or are you billed based on the time taken. If there were to be additional fees how would this be brought to your attention?
6. Ask about the payment terms so you can discuss how best to budget for the costs.
7. Ask for a guide as to what are the turnaround times for work provided.
8. What format can you provide your information to the accountants? The options can be online through a software package, an excel spreadsheet, or even traditional paper records.
By asking a few key questions initially you can judge whether the firm is the best fit for you and your business.
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