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A List of the Most Important Questions You Should Ask Your Prospective Ac-countant

A List of the Most Important Questions You Should Ask Your Prospective Ac-countant

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Having an accountant that fits your needs is essential, and the right accountant will understand what you really prioritise as a business. Your accountant, after all, can be one of your best allies for your business’ growth and prosperity, and it follows that they should be able to guide you through various elements that enable you to become a long-term success. So before you enlist the services of an accountant, it’s crucial to determine how they can work with you and what they can really do for you. You should make it a point, for instance, to ask them specific questions that can help you determine if they are suitable. Here, then, is a list of the most important questions you should ask your prospective accountant.

How and What are your Fees?

The fees of your prospective accountant are important, and knowing this from the beginning will help pave the way for you to make the right decision. Most accountants will charge an hourly fee for particular tasks such as filing and submitting taxes and tax planning and advice, while other tasks, such as bookkeeping, are done on a monthly fee basis. You should also figure out the services that are included with their fees and weigh these services according to their value. When you ask your accountant about their services, try to request an itemised quotation so you can see for yourself what the accountant can do for you compared to others.

Will I Have a Dedicated Contact Person Handling My Affairs?

If you are opting for an accounting firm such as central London accountants Griffin, Stone, Moscrop & Co, it also pays to ask whether your account will be handled by a single contact person or accountant or it will be handled by several. And even if more than one person will be handling your account, it would be better to have a single contact whom you can stay in touch with and who can give you the briefing and reporting you need. This kind of service can provide you with continuity, and it establishes a more solid relationship between you and your point of contact. It can reduce the risk of missed deadlines or errors as well.

How do you Plan to Keep in Touch?

It’s also important to determine how your accountant will stay in touch. Whether you choose a sole accountant or an accounting firm, they should be vigilant and rigorous when it comes to communicating with you, especially when something important is at hand. You should also decide how often you would communicate and by what form – either through face to face appointments, telephone calls, or video conferences. The accounting firm should also be open to meetings on a regular basis even if there is nothing essential that needs to be discussed because this can help prevent any issues later on if they are raised in your meeting or conversation.

What Aspects Should we Discuss on a Regular Basis?

While we’re on the topic of meetings, it’s also important to determine what aspects you should discuss on a regular basis. Your prospective accountant should give you their views on what merits discussion, whether it’s financial reports, credit control, tax planning, or the management of cash flow.

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