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We know that choosing the right accountant for your business may be overwhelming. Being aware of the right questions to ask and the correct qualities to look for in an accountant will give you a jumpstart and put you in the right place to make a decision.
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A guide on finding the best accountancy service for contractors We know that choosing the right accountant for your business may be overwhelming. Being aware of the right questions to ask and the correct qualities to look for in an accountant will give you a jumpstart and put you in the right place to make a decision. We have gathered some of the basic concepts that you should consider when it comes to finding the right accountant for your limited company. Identify the things you want your accountant to do for you The first step in making every decision is to determine what you want to achieve. You need to identify whether you just want a bookkeeper to handle the daily or weekly processing tasks for you, or if you also want an accountant’s expertise in consulting about the health of your business. Knowing what services you require is a great start in finding the best accounting firm for your limited company. Check the accountant’s profile When was the firm established? How many qualified staff does the company employ? How many contractors have they served? More specifically, is the accountant a contractor specialist? You could use social media to dig deeper into your accountant’s profile to see if they have a strong network of professional contacts, find out what their clients say about them, how long have they been in the business and to see if they are a member of a professional body. Take price into consideration How much are the fees? If there are several packages, what services are included in it? Are there any hidden charges? Also, you should not be content with the lowest price as these offers may be deceiving. We get that paying for an overpriced service is not practical but you should not sacrifice customer service quality and accounting expertise by choosing a low-cost accountancy firm. Price is one of the major determinants in picking the right accountant for your business, but it shouldn’t be the only factor. Services offered
Some high-level services include: quarterly management accounts, monthly bookkeeping, dividend planning advice, year-end company accounts, PAYE return completion, and dealing with the authorities such as HMRC on a regular basis. This brings us back to our first point which is knowing what services you will need and use. Are the services offered flexible enough to meet your needs? Will there be additional charges for other tasks? How much will the additional fees cost? Is technology important? Accountants often incorporate leading edge software into their service. Anytime uses the trusted online accounting software FreeAgent, which includes invoice and expense management, project management and much more. The software even allows you to track your expenses from your mobile phone. Therefore you need to consider whether the use of technology would be advantageous for you. Use your contacts You can find a first-rate accountancy service by seeking advice from family, friends and your business connections. Ask if they have a recommended accountant and why. Their answers may be of great use in identifying which contractor accountant is best for you. Choosing an accountant is like choosing a life partner. Good accountants help limited companies grow by giving the best solutions to complex problems and managing your finances. However, it is a personal decision. An accountant who is fit for your friend’s business may not be compatible with yours. The key here is to have a systematized way of knowing what your goal is in order to make the right decision.
