Choosing the Best Accountant
Choosing the Best Accountant
Choosing an accountant is one of the most important business decisions you will make if you are starting a business or if circumstances in your existing business change. Most actions or decisions you take in business has some sort of financial dimension. Therefore, having a strong and trusted accountant working with your business is vital.
Without good financial advice and proper systems and processes in place, your business faces many risks. It is not easy to identify which accountant is best for you and your business. However, understanding what your business needs are and your current resources is a good starting point.
The Role of an Accountant
There are three roles that an accountant takes on for your business. These include operational, strategic, and advisory. Operational covers the day-to-day financial transactions of a business. Regardless of the type of business you are running, you will need to keep records, manage cash-flow, look after payroll and deal with the bank and the Revenue. Strategic services involve assisting with long-term planning, developing business plans, creating financial models and other activities related to long-term business decisions. Advisory services include advising on tax, acquiring new premises, or expanding your business.
Choosing the Right Accountant
When you begin your search, it is good to have a clear idea of the services you need. We have outlined important steps which will help you choose the right accountant for your business.
- Create a brief in relation to the services you need. This brief may change throughout the course of your search, as you begin to learn more about possible financial services for your business.
- Ask other business owners about the accountants they use. When asking other business owners ensure to ask about the efficiency of the services, the expertise of their accountants and the relationship they have with their accountants. This will give you a good feel for accountants with good reputations.
- Ensure the accountant belongs to a recognised accounting body, such as Chartered Accountants Ireland.
- Set up a meeting with a potential accountant having a list of questions about the services you require.
- Discuss fee arrangements and ask for a proposal based on the services you require.
When choosing which accountant to work with, always consider the quality of the work they provide. Looking for client testimonial videos or engaging with an accountant’s current clients is a good way to gauge the quality of the services they are providing. Ensuring you hire a reliable accountant, will help save you and your business time and money in the long run.
If you require further assistance
Gallagher is a leading mid-tier firm of accountants located in Dublin city centre, Ireland. We focus on providing cost-effective accounting, tax, advisory and cloud accounting services to private companies, owner managers and individuals. If you are looking to outsource your finance services, please don’t hesitate to send us your query or book a call.