A good accountant will offer you the services you need to be compliant, but the right accountant will also be proactive, laying the foundation for performance and growth.
Most small business accountants out there prepare your accounts to be compliant with tax submissions. However, a proactive accountant will set up your processes and accounts in a way that is forward-looking and enables goal orientation.
Accounting is not just about punching numbers, reconciliation and tax. Competent planning and analysis goes a long way to understanding and adding that extra value to your business. To do so, an accountant needs to lay the foundation before the start of the accounting year. Most small business accountants focus on the basic legal compliances that every business has to adhere to. Therefore, consider looking for an accountant that has an appetite and willingness to explore value-added services for your business.
Most traditional accounting firms will charge you on an hourly basis. This might be great if you know what your business needs and how long it should take for the accountant to perform that task. However, if you expect innovation, flexibility and continuous improvement, this pricing model might not suit your business model.
Therefore, be selective when choosing the right firm for your business. Some big firms have a great presence; however, they may struggle to offer one-on-one contact, meaning you could deal with a different person every time you contact them. If your accountant doesn’t understand you and your business, they can’t help you in achieving your business goals. On the other hand, having a firm with limited resources or expertise might be equally detrimental.
When seeking an accountant that offers all-around accounting solutions, including advisory, it’s always best to hire an accountant that’s specialised or experienced in your field of work. For example, IT firms with subscription models or fixed price engagement. An accountant in Melbourne experienced in this area can add real value when it comes to the automation of processes.
Selecting an accountant that offers support and expertise in your deployed accounting software can go a long way in avoiding errors, chaos and missed deadlines. There is a wide range of accounting software available on the market today. Choosing an accountant that is certified in the software deployed and favourable to your business will provide you with value for money in the long term.
Here at our accounting firm, we believe in finding our clients an accounting solution in Melbourne that is right for their business. Contact us today to book a free consultation.