Forum - Finding an Accountant

Hi Jo
I would encourage anyone to have a good think about their business and what is right for them before meeting accountants. Having a good idea of the direction of your business, the business structure you are happy with, what challenges you expect to come up in the next year, and how you want to work on a day to day basis will make for a constructive conversation. Think about how much time you want to spend doing the basic bookkeeping or if you want to pass that out too. What kind of software would you feel most comfortable using. How do you want your fees to be structured… fixed fee, lower fixed fees + extras, pay as you go (time and attendance etc). A really big question is about communication. Do you want them to come to you, are you happy to visit them, do you want to have visits at all or use other technology (skype etc), what hours and working patterns work best for you. How quickly would you want a response by email or phone?
Once you have an idea about what you want you can then ask questions along the following lines
• How do fees work on a fixed rate, lower rate + extras, pay as you go basis? What about with or without payroll/bookkeeping software and services?
• Explanation of qualifications, professional membership, practising certificates? Ask about Professional Indemnity Insurance and data protection license.
• Try and determine how well they will provide compliance along with business advice, management accounting and tax planning. Ask if they can talk about businesses in a similar industry to you (no names) about the stages and processes they have gone through
• What experience have they got in your industry, with businesses your size and at your stage of growth? Are there any case studies or testimonials of people you could call and speak with? Ask what they see as the challenges for your business over the next 1-3 years and how they can help you.
When you are down to your shortlist have a good think about personality as this is important too, having someone that you can get along well with.
It is an area that a people struggle with especially with such a long list of different qualifications. Lots of people opt for an accountant that is recommended by a friend or professional colleague but in some ways this can be fairly high risk as it doesn’t properly consider industry qualifications and experience among other things specific to you.
I now run a small business which adopts a “dating agency approach” to finding an accountant (because of all the things mentioned) and help people to find ideal accountants for them. It’s free to use at www.find-me-an-accountant.com and there is some information on that site that you might find useful.

Hi Jo

Congratulations on getting yourself as sorted as you have done! You are right to realise that sorting out your finances and seeking advice early on is critical.

Please feel free to take a look at my latest blog which helps new businesses ensure that they are compliant http://www.d2-accounting.co.uk/our-blog/.

You may also find the FAQ section of our website helpful too.

The best advice I can give you on selecting an accountant is to find one that you get on with and feel confident will give you the best advice for your business whilst encouraging you to develop it further.

Please feel free to get in touch if you would like further advice, my details are on our website.

Good luck!
Lianne