An accountant is a financial professional who examines and prepares financial records for companies and individuals. Accountants work with various financial statements and numbers to create financial records and determine the financial health of a company or person.
What to look for in an accountant when choosing an accountant for your company.
Are they qualified?
When choosing an account you should look for an accountant’s qualifications and experience. If they are qualified they will be associated with a relevant professional body such as ACCA and ICAEW. At Taxaccolega we have qualified bookkeepers, certified accountants and chartered accountants. We make sure that the accountants in our firm have professional competence and strictly adhere to the ethical code of conduct. This includes objectivity, integrity, cofendiciality, professional competence and due care, professional behavior. Since as your accountant we will be dealing with confidential and sensitive information we make sure that we keep it conference and not disclose it to anyone.
Easy to talk to
They should be friendly and you should feel comfortable talking to them .This is very important that you are comfortable with your accountant when you talk to them for the first time . You should feel free to talk about the fees that they will be charging. For example, are they going to bill you per hour or is there a quarterly or an annual package? discuss what you expect from them and what they expect from you. The clearer the things are between you and the accountant the better it is for you and your business. You should not feel shy asking them questions related to accounts and taxes. You might want your accountant to explain to you what the numbers mean and how they affect your business. Since you run a business, it’s not necessary that you know the financial side of the business and an accountant should understand this and answer all your queries patiently. You should hire an accountant who does not only prepare your accounts and other financial statements but is also able to explain the numbers well.
A good accountant will be an accountant who will deliver on time . He will meet all the deadlines. He will ask for any information required to make the accounts on time . He will make sure that no penalties are incurred. A good accountant will remind you of your deadlines in the timely manner rather than expecting you to remember them.
A good accountant is an accountant with good communication skills. He will keep you in the loop with everything they are doing
A good accountant will keep you informed . If your deadline was on 7 Feb and your accountant usually submits by 27 Jan however due to some reason the accountant won’t be able to do it this month it would be good for you if they tell you clearly that due to some reason they won’t be able to submit it until 6th Feb . When you are informed you will have a better understanding of the situation. This also shows a sense of responsibility towards the client and the client in turn will have more confidence in the accountant.
Scale of the firm and the size of your business
When you are looking for an accountant, their scale should match your business. For example if you are a small business you should go for an accountant who is a small firm. If you are a startup or a growing business you should look for medium to large firms. Taxaccolega deals with both small and medium sized businesses.
You should also make sure that your accountants have experience in the type of business you are in. For example if you are in a real estate business it would be worthwhile going to an account who has an experience in the real estate business. Your accountant should be able to tell you frequently made mistakes by the client in this business and you can also learn from the experience of the client. At Taxaccolega we deal with a large number of clients who are in the real estate business and therefore if you are renting your property we will be able to advise you on the business structure and other related taxes. We are also experts in the Inheritance Tax Law and we can provide you with expert advice on inheritance taxes that will include how to save your taxes and also how to Pay the taxes. These taxes can get tricky as everyone is in a different situation and a relief that applies to you might not apply to the other individual or a business, an accountant who is experienced can advise you on how to save taxes by utilizing the reliefs available to you.
Taxaccolega, as one of the best accounting firms in Croydon deals with a variety of clients such as contractors , freelancers, sole proprietors, small business owners.
We provide tools for clients who are selling on platforms such as Amazon, Ebay so the accounting is made easy for them.
Since we are a team of accountants and chartered accountants we won’t only do your bookkeeping but we will also give you professional, unbiased advice on your financial matters. For example, we will let you know how you should run your business either as a limited liability , sole proprietorship or a partner. We will even tell you by looking at your individual circumstances when you should switch to a different business structure in order to save taxes.
Are they easily approachable?
When looking for an accountant you want an accountant who is approachable. You can talk to us on the phone in case you want to discuss anything with us, you can walk in our office or arrange a video call with your accountant.
Here at Taxaccolega, although the whole team of accountants will be working on your accounts there will be one specialized accountant allocated to you who will do all the correspondence with you this is to avoid confusion and to have consistency in the work. When one accountant is allocated to the client this develops an increased rapport and the accountant gets to know the client and his business well.
Efficient Accounting Approach
We use Efficient accounting softwares such as quick books so that your work is done efficiently and not only your taxes and tax returns are submitted on time but also you have all the financial information related to your business sorted so you can make informed decisions.