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Top 5 things to think about when picking an accountant

Choosing an accountant is probably one of the most important business decisions you will make so be sure to fully vet them to find the best accountant for you. Most accountancy firms will offer an initial free consultation, so use this meeting to find out the following points:

1 - Qualifications

There are a few qualifications within the accountancy industry so make sure you ask your prospective accountant about theirs. The most common professional bodies that accountants are regulated by are ACCA, ICAEW and CIMA. Most accountants will have reference to their qualifications on their marketing material (leaflets, website etc), but if not, just ask.

2 - Experience

When choosing an accountant it is best to have one that deals with similar size businesses to yours. Remember, if your accountant runs their own small business they are much more likely to understand the workings of your company. Also, don’t be afraid to ask if they have similar clients in your industry.

3 - Location

Most people prefer a local accountant so they can meet with them if they need. However, this is not always necessary and many businesses use remote accountants where they have all communication by email or phone. This is completely down to your personal preference although most accountants like to meet their clients to build rapport and a good relationship with them.

4 - Charges

This is usually the number one question people want to know – how much will I be charged by an accountant. Do they charge a fixed annual fee which covers all services needed or is there a monthly cost? Some accountants charge by the hour. If this is the case, make sure you know exactly what they charge for – does a quick 5 minute phone call get charged to you at an hourly rate for example?

5 - References

If you still need further information about your prospective accountant, ask to speak to existing clients. Remember, your accountant should be one of the most important advisors you will have in your business so take your time in picking one.