By Pamela Phillips
How do you choose your accountant? If you’re like most small business owners you’re probably most interested in the price. Because they all do the same thing, right?
Well, actually, not all accountants are created equal, and what’s right for one business, isn’t always going to work for another. And most small business owners who choose accountants based on price and the most basic of services, don’t actually know what they’re missing.
In fact, if you know what you’re looking for, the right accountant can be a huge asset to your business, and can help you scale more sustainably, with more confidence, profit and speed.
5 Questions to ask when choosing your accountant
1. What do you really need from your accountant?
It could be that all you really want is to have your tax returns filed and some comfort that you are keeping compliant with the law. But what if you could have an accountant who could actually help you make more money too?
Spending more on your accountant can earn you money - it’s an investment.
The price of a traditional accountant may look more palatable, but all you're really getting for that service is your tax return filed and hopefully peace of mind. But accountants can do so much more than that, and when you invest in an accountant that specialises in business growth, you will always save money, whether that’s directly through cost savings and efficiencies, or by making more through growing your business.
2. Do they know your industry?
Most accountants are generalists and that’s fine if you just want your tax returns done and your accounts filed.
But when you want more - when you want support with the challenges you’re facing in your business, when you want to scale, when you want to know that you’re using the best tech for your business, that’s when working with an accountant who really knows your industry helps.
3. Do you understand what your numbers mean?
Your numbers give you powerful insights into how your business is performing. When you have up-to-date, reliable information about your business, you make better decisions.
Some accountants will send you over the accounts once a year for you to sign. But when you work with a highly engaged accountant, you not only see how your business is performing more often during the year, they also help you understand what the numbers are telling you and what you need to do to make your agency more successful.
4. Who's helping you make decisions (and do they know their stuff?)
Running your own business can be a lonely place and it can sometimes feel like there’s nobody that you can talk to about the challenges you’re facing and the worries you have.
That’s when working with an accountant who knows you, your business and your industry and is by your side all year round makes all the difference.
5. Are you tech-ready for the new ways of working in 2020 and beyond?
Do you want to work with an accountant who is future-proofing your business and constantly finding ways of doing things better?
Helping our clients find and use the best technology has always been a big part of what we do because we know it will save them time, money and help them be more efficient. This year of course it meant while everyone else was still trying to figure out how to log into zoom, our clients were already up and running and fluent in all the tools they need to successfully run their business remotely.
At de Jong Phillips we definitely don’t fit into the traditional accounting role. We work with agencies who don’t just take our counsel, but are brave enough to take action, because they know we only give advice that will protect and grow their business and help them to be more profitable and scale.
If you’d like to talk about how we can help you make your agency more profitable and scale, get in touch to arrange a call with one of our team.