So you have decided it is time to hire an accountant, that’s easy, right? as all accountants are the same… wrong! accountants differ considerably in their area of expertise so it is important to take time and carefully consider what it is you want from your accountant.
You should consider your accountants location, the workload that will be allocated to them, the software they use and whether or not they are able to help you reduce taxes, not to mention the accounting cost involved.
Tax returns, payroll and cash flow are one of your companies most important areas, so it is imperative that you choose the right person for your company.
So how do you find the right firm of Coventry accountants? Well, we have compiled our Top Tips for choosing an accountant to help you out.
Consider The Location
Gone are the days where you have to choose an accountants that is located close to your home. Thanks to cloud accounting you can now manage your accounts completely online. Latest software such as xero and quickbooks allow you to manage your finances away from the office.
When considering the location of your accountants, it comes down to what will suit your style of working. Would you prefer a more personal face to face approach, or would you consider managing your finances online with an accountant based anywhere in the world?
There’s no right or wrong answer when deciding on the location of your accountant it solely comes down to your personal opinion and what you believe will suit you and your needs best.
Choose a certified or chartered accountants in coventry
The most successful way to know that you are leaving your finances in the hands of a profession is to ensure you choose a firm of chartered Accountants that is regulated by a chartered professional body.
The directory each professional body has should indicate that the firms senior partner is at least recognised and established as one of these:
institute of chartered accountants
ICAEW (UK only)
Association of Certified Accountants (ACCA)
Chartered institute of Management Accountants (cima)
members of the Association of International Accountants
members of the Institute of Financial Accountants
We at Coventry Chartered Accountants, are just that. Fully registered Chartered Certified accountants. Our senior accountants have completed above degree level studies and are highly qualified professionals.
Choose A Coventry Chartered Accountants With Skills Relevant To Your Needs
You will need to make sure that the accountancy practice that you choose has experience working with an organisation of your size. It is also an added benefit if the practice has worked with other companies in your market sector.
When looking into the right advisors for you it is important to ask those who you have shortlisted, how they have helped small firms grow over the years. This will give you a better indication as to how they manage the evolving needs of a client.
Our small tax practice has years of experience working with a variety of small businesses in a range of sectors.
Use Your social networks to find a Coventry accountants
Social networking sites aren’t just great for keeping in touch with family and friends, they can be used to help you better decide on a number of different topics. You can reach out to business owners and ask them who they use for their business accounts and what it is that made them choose that particular firm.
The other added benefit of social networks are the fact that many business pages have a reviews section. This is where you can see how clients, past and present, rate the business, often comments are left to back up a person’s rating on a company. This will give you a better insight into what the limited company is really like.
Other social networking sites such as LinkedIn have the option to choose service providers based on recommendations by others. LinkedIn is a great way to see your advisors expertise, often their past job history and range of expertise can be viewed easily.
Also, your ideal accountant could be hidden amongst your friend’s list, so putting up a post
explaining your need for an accountants could prove beneficial.
Short List You Candidates
Once you have searched for chartered accountants based near Coventry and made a list of the ones that you feel could prove beneficial to your business it is important to:
Find out about the experience of their staff and their service fees.
Have they got an other client like your business?
What are their qualifications?
How do they aim to manage your business needs efficiently?
Have they got any reviews or testimonials from past clients?
are they able to service your business based in Coventry?
Do you feel that you can trust these accountants?
Do they provide all the services and advisers you need?
Trusting Your Coventry Advisor
Choosing an accountants based in Coventry is not just taking into consideration their knowledge and expertise. These people will be managing a large portion your business finance’s so you need to feel sure that you can trust them. Are open and honest and straight-talking? or do they seem like they are holding back information?. These are things you need to look at when deciding on who you are going to choose to be your tax agent. Remember respect works both ways.
Agree how often you meet up with your Coventry accountant
Your accountants should be your trusted advisor, but you need to have regular catch up meetings with them (either online or at their offices) so that you can discuss your business and get their advice and support! Quarterly might be often enough to make sure that they help you to review your finances, give feedback on your business and help you to run it smoothly and efficiently.
Remember that you generally get what you pay for so don’t just jump in feet first, to the cheapest accountants in Coventry you meet. If you want a modern award winning local accountants, who do your jobs to the highest standard it won’t be cheap. Remember – free advice is worth every penny!
You will notice that many accountants in Coventry charge by the hour while others charge a fixed fee for accounts, vat and bookkeeping. Learn which is best for you. Remember there is no single set payment charge that accountants use so negotiate with them to get the price and payment method you desire.
It is important that when choosing an accountants you get a written quotation from them so that you can compare all candidates. You can then go back to the one you choose knowing that they will offer you the quoted rate.
Sign a Contract
Once you have decided on the right accountant for you and are happy that they will fulfil all your requirements you are now ready to sign on the dotted line. Be sure that everything that you have asked for is written down exactly as it was discussed if it isn’t don’t be scared to ask to have the contract amended before you sign it. Check that all the tax, payroll and cash flow services are included.
A great accountant will help to grow your firm and manage any complex financial work whilst offering you advice on how to better improve your offering. In the long term, an accountant will, in fact, help you save money and ensure that your businesses become more cost-effective
If you are currently looking for a leading independent firm of accountants within Coventry, or nearby in the west midlands then contact us and let’s see how we can help you today.