Choosing the right accountant for your business can be one of the most difficult tasks you need to complete when starting a small business. It can also be the most rewarding decisions that you can make for your financial future. There are many accountants out there it is just a matter of following the right steps to make sure you get the right one for your business.
If you don’t advise your client on making and saving money and saving time, then your business will be in trouble. This recession that’s happening right now, is weeding out businesses and changing business culture and structures.
A lot of people think that accountant work is all about math. This however is not true. You should not think that it will be possible for an accountant to do tedious sums in mind just because he is an accountant. True he works with numbers but there is a lot more to that. He works with the analysis of financial reports; his work is concerned with the research of several aspects of a report.
You might be the greatest person at getting things done personally. On the other hand, leading and managing is all about getting things done through others. Accept that if you are going to manage or lead you have to develop some new and different skills.
Well like I tell my clients, understanding these three steps: Showing you’re an expert, seeing from your customer’s point of view and having an accountant. Is a great way to jumpstart immediate sales and keep your customers coming back.
It is important that you choose an accountant that has some expertise in the business that you own. For example if you import tea from India, then your accountant should be aware of how the tax laws in India work, If you work outside of the country for long periods of time it may be that your accountant will be able to get you a tax break of some kind. Explore all of your options before employing your accountant. Talk to other people who own a business, a recommendation is worth considering. Having an accountant may seem like a huge extravagance, most Accountants Stoke Newington will save you money in the long run. Taking a short term view of your business could cost you money. New ways of saving money is an accountants brief. A free consultation is only a phone call away.
A question which is always asked by my clients is rather they should rent or lease. Well the answer to this question depends on how much money you have in the bank. Ask yourself this question will I be OK on paying my bills for up to 6 months if I purchase this item. If the answer is no, then you should lease. This can make a huge impact on the cash flow of your business.
While it may not be considered part of the Income Tax Act, there are some unwritten rules when it comes to this time of the year for accountants. No weddings or births should be planned during this time. And needless to say, no one would want their birthday during this hectic period.