15 Jul
Switching Accountants – Is It The Right Time?
When should you switch Accountants?
Starting a new business endeavour comes with its own set of challenges and as entrepreneurs, you shouldn’t have to face these problems alone. Hiring the right people, especially a startup accountant, will help you keep your focus on doing what you love while the experts guide you in the right direction.
A startup accountant can help entrepreneurs design and implement effective strategies, introduce cost-cutting methods, ensure quality financial reporting and provide expert advice that will help their startups deal with complications at various stages of business growth and guide them towards the right path.
However, if you already have an accountant on board and if you feel that you are not getting the quality services and support promised, then it is time to switch your accountant to someone who can cater to your needs.
If you are still on the fence, here are 5 telltale signs that its time to switch your accountant.
- Your Accountant is charging you extra for basic advice and guidance
A professional accounting firm ensures that your business stays compliant with official laws and regulations. The accountant will make sure you are paying the right amount of taxes, identify tax reliefs to save you money and provide basic advice. However, if your accountant charges you every time you ask simple and basic questions, it is a clear indicator that now is the time to switch your accountant. Your accountant should help you retain maximum profits and save you extra money, instead of charging extra on any basic work that should be within their service.
By hiring Clear House Accountants, you will get unlimited basic accountancy support required to progress your business through the various stages of business growth, the cherry on top is that you won’t be charged extra for the basic services required to stay compliant.
- You are paying over the odds
Not every business can afford an expensive accountant at the startup stage. Hiring one should not cost you an arm and a leg. If you believe that you are overpaying your accountant and not getting enough services in return, then it’s time to make some serious decisions.
Many accounting firms offer fixed package pricing that provides all the necessary services for your startup in one package for a monthly price. With some accounting firms, you can further personalize packages to add or remove any services you need or don’t need.
Video: Why Do I Need An Accountant & Why Do I Need An Accountant For My Business
This short video will help you identify the role of an accountant in business and what value they can add to your business’s growth.
- You have to visit your Accountant Regularly
If you have to visit your accountant to get things moving or go to their office on a regular basis, then you should think about changing your accountant. As booking an appointment and taking out time to visit your accountant on a regular basis is not feasible for small business owners. As small business owners, you need to focus on your business, that is why it’s better to switch to an online accountant, someone who will provide you multiple services without the need of making arrangements for meetings, saving you a tremendous amount of time and money.
- Your Accountant does not put any effort to improve communication
Communication is key in any good relationship and the same rules apply to your relationship with your accountant. If your accountant isn’t communicating properly with you or isn’t explaining key terminologies than you should think about changing your accountant. Lack of communication is a key issue that many business owners experience.
A good accountant needs to not only convey deadlines or what information they need to complete your compliance requirements; they also need to be able to explain what key financial information means and how you can use that information to grow your business.
- Your accountant is not excited about your business
Your accountant should be a business partner who provides insight and expertise through which you can increase your business’s profitability. To ensure you get the required feedback from your accountant, you must have a relationship of trust and respect with your accountant. You will need an accountant as passionate about your business as you are.
If you speak to your accountant rarely, then it’s impossible to build a relationship. You should speak to your accountant frequently. However, if you feel your accountant does not express much interest in your business’s goals and future prospects, it’s time to change your accountant. You need to find someone who is easily approachable and is interested in your business growth and prospects as much as you are.
- Your accountant is not adding enough value
Your accountant might be extremely proficient in managing the accounting side of your business. However, accountants can do more than just mere bookkeeping, filing tax returns and ensuring your business’s compliance. A great accountant can help you with anything from budget forecasting, funding advice, cashflow management, financial dashboards, and much more.
If you feel your accountant is not providing you with the desired level of services, you can speak to them about getting advisory services. However, if they are not able to offer you the services they need, then it’s time to switch accountants.
If any of the signs mentioned above ring true for you, then its time to switch your accountant. Changing accountant’s may seem like a daunting task, however, all you need to do is contact Clear House Accountants and we will take care of the rest.
Clear House Accountants are specialist Accountants in London who have built tools, processes and an expert team of accountants who will help you create smart solutions for your business to help you grow faster, save tax and improve cash flow.