Hi Nathan, I have a report on the mistakes business owners make when choosing an accountant and what questions to ask. Did you want me to send it through to you? Cheers, Lisa
Accounting helps you keep a track of your transactions. Maintaining accurate books of accounts is crucial to your business as it helps you make important business decisions. There are some mistakes that business owners need to avoid when Hire an accountant, whether hiring an in house accountant or hiring or Choosing an accountant services firm. if any requirement send email:- email@example.com
Have a chat with them to start with, and see if you feel comfortable with them and what they offer. Generally you'll be speaking with the principal or a partner, but they won't be doing the work, their staff will.
A couple of things to think about -
- are they a CA (Chartered Accountant) or CPA? They are the 2 major industry bodies that require completion of a course plus continual professional learning. If they are doing BAS or tax, they need to be a Registered BAS Agent or a Registered Tax Agent. You can also check this on the Tax Practitioners Board website www.tpb.gov.au. It will also tell you how long they have been registered for.
- do they charge by the hour or give you a fixed price for an agreed upon amount (scope) of work.
- what do they require from you? How much work do you have to do (or are willing to do), and what systems do they have I'm place to make things easy for you?
At the end of the day, it comes down to who you feel comfortable with to do what you want/need, and (hopefully) that extra step for you.
I would agree with Kirsty Fox and what she has stated. I think that it is important to have a think about your business, where it is currently headed and where you want to see it go before seeing a potential accountant. Also think about what services you want from them. Some of my clients want to do their own BAS but want me to focus more on strategic matters. You may not be sure what you want to take on yourself or what this actually means, so you should discuss this with any accountant you want to see. Ask them about their experiences with similar clients in your industry and what sort of things they have done for them. For example, I have clients who's primary income is from Govt grants and one of the questions posed to me is have I had experience in these sorts of matters,. If you're in retail, it may be asking your potential accountant if they have experience in the specific software you are planning on using or actually using.
CA and CPA are not the only professional bodies, there is also the NTAA and IPA and all bodies have the same minimum professional development hours and the Tax Practitioners Board also has set mandatory hours of annual training as well. Like all things, there are great, good, average and further down the scale of professionalism in all industry so trust your gut feeling and make sure the person in front of you is someone you can work with. Great accountants can offer so much more than BAS lodgement and annual accounts.