Here are your top considerations
Whether you are a small business owner, or looking to develop your personal financial circumstances then you could certainly benefit from the skills of a chartered accountant.
However, finding the right advisor for you is no mean feat. There are many accountants to choose from whether they freelance their services or are part of bigger organization. However, they will all come with their own unique skills, abilities, personalities and ways of communicating. So, finding the right one for you and your needs, will be crucial.
Looking to get the best experience for your buck is one thing, but unless you can connect and relate to the individual then the previous experience and strong qualifications they offer can quickly go out the window.
Ideally you should be able to engage and liaise with an accountant as soon as you first launch your startup. But if this hasn’t been possible or your looking to work with someone for your domestic finances then a good accountant can always pick up the pieces.
You may well have put off hiring a quality accountant ironical due to financial circumstances, although having the right accountant to support you with accounting and payroll systems will save you money in the long-term.
Furthermore, a supporting associate won’t just add up the figures and do the legal stuff, if you have found the right one for you then they can also work with you on your cash flow, give advice and guidance around tax and support you with record keeping.
Your next or new advisor will play a crucial role in your team and provide relevant and specific business advice, here’s what you can do to make your choice easier.
There’s nothing more mindful when making big decisions than making a list. Whether you’re buying a house or employing people subconsciously you will make your own wish list of the professional expertise you require.
But putting pen to paper and creating your own requirements in the form of a wish list will quickly help you carve through a world of options and considerations.
Think about what you’re looking for personally as well as professionally and write these qualities down. Having a list that you can check off will create that tailored need and define your criteria for selecting the right individuals.
Word of Mouth
There is no better recommendation for a product or service than the trusted word and mouth. Using the benefit of your friends and family experiences can go a long way when choosing who to work with. You want someone who can work hard to drive your company to success, what better way to ensure you get a highly experienced professional than to ask other traders if the company has delivered for them?
Contacting colleagues and peers to get their insight is also a great way to build up an understanding of what’s required. Discussing the pros and cons of working with accountancy professionals will get you ahead of the game. Can you contact them by email and phone easily? are they offering you a valuable proactive service that solves practical challenges?
Using their knowledge of accountancy will certainly save you a lot of money, and avoid making unnecessary mistakes.
You’re the Boss
Essentially you are hiring a member of staff to look after your accounts. In which case, you need to take the approach a boss would when hiring people and building teams.
Set up a number of interviews with different Leicestershire accountants, ask lots of questions and see whether they live up to your wish list. Spend some time planning the finance or bookkeeping service they’ll be providing for your firm.
Having the opportunity to meet and greet local accountants in Leicester will give you a feel for their experiences and qualifications rather than just how it looks on paper. Remember, you’re the boss!
Gain knowledge from Interviews
The interview process is the perfect way to develop insight knowledge into how Leicester chartered accountancy firms operate.
By asking plenty of questions you get the chance to not just hear the answers you want, but also work a lot closer to your requirements. Finding out what range of solutions they are advising their existing companies on, and are these a good ongoing strategic partnership for you.
Every interview gives you a way forward in regards to asking for guidance, money saving ideas and what approach they would take to managing your affairs. Take this opportunity to learn from the initial meeting and build on your specific needs and requirements further.
Making a decision should boil down to working with someone you like. This does sound simple but finding someone approachable is crucial.
Remember, this is your decision, your choice. Don’t feel pressured by endless qualifications and big organisations, hire someone you know you can work with and enjoy contacting.
This decision could mean the difference between your strategies making profit or falling to the wayside. Make sure you are relaxed, comfortable and find someone who is easy to talk to, you are essentially choosing your next business partner.
The world is full of independent professionals who have been in the game for many years. And yes, this certainly does have its advantages. However, many don’t always practice with the most up to date of technology and software apps.
If you are running a modern business then you will need a modern Leicester accountant. Technology moves on quick, and as with many other aspects of your life accountancy is now online. It might not even be necessary for the director to have a physical commercial office and instead do consultation and meetings online.
Make sure your new partners have all the necessary credentials for using cloud-based & app based accounting software and online payroll because if they are not online yet, then they should be!
Be sure to check these out, Chartered Certified accountants will be registered with the ACCA or ICAEW. Whilst being qualified may not essential if you just want an individual to do data entry and type in your vat receipts, having a senior adviser who is a bit more knowledgeable and has managed to achieve charted status.
Plan it Out
Before making your final choice getting fees and costs out on the table is paramount. You certainly get what you pay for. Don’t just go with someone because they are cheap, they may not be able to meet your needs. You can get a good deal from advisers that not only do compliance but can also address corporate management issues and drive your start up to growth.
Agree fees, discuss costs and plan out what you both expect of each other. That way there is no hidden costs or huge unexpected bill at the end of the financial year.