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Can You Really Trust Your Accountant?

That’s the question all business professionals should ask when assessing their current accountant. Handling and managing finances is not an easy task, which is precisely the reason why you need to consider an accounting outsourcing firm to do the job for you. . If you picked your accountant just out of sheer need and not mindful whether they will be indispensable to your company, chances are you might need to look for another one.

Here are the top 2 reasons why you might be in the market for a new accountant.

He Doesn’t Communicate Well

Communication is the key factor in the success of every business. Building relationships and creating rapport is not just for the customer service representatives. The guidelines below will help you review the relationship between you and your accountant:

  • Does he call you to discuss money saving options for your business? Chartered accountants should go over your books and find ways to help you save on money and reduce or eliminate some expenses.
  • How often does he call? Do you meet face to face regularly? He does not need to be over-the-top chatty, but calling and meeting regularly will help develop a good relationship which leads to solid trust.
  • How long before he returns your call? It’s a red flag if it takes him several days to call you back. Even though he might be busy with other clients, your business is just as important as any other.
  • Does he discuss and explain the numbers without confusing you? Numbers and computations can be quite confusing. If your accountant does not know how to explain the details and leaves you more confused after the meeting, it’s a warning sign that you need to change someone new.

If you want to reach your business goals quickly, you should have a good relationship with your accountant. It will help that you have a business friend to talk to.

You Don’t Understand the Fees

Some business owners are dumbfounded when they get a bill from their accounting firms. They see charges for communication (e.g., telephone calls) and other charges they were not aware of. If you had the same nasty surprise in your mailbox, take a moment to review the contract and talk to your accounting firm about it. You might have overlooked the clause where it says you will be charged for communication expenses.

Another aspect that you should look into is the price you are paying for accounting services. But take note that it all boils down to how valuable your accountant is to your business. If he’s making constant mistakes and you have repeated letters from the government indicating incorrect financial date, it’s time to move on and search for other accounting firms.

Conclusion

Reviewing what your accountant has done for you will help in determining if the need to change to another firm is needed. Oftentimes, as studies show, it’s simply just lack of communication from both parties. But if the sole reason for not changing your accountant is because you don’t want to go through the hassle of teaching someone your company processes, then you might run into bigger financial problems in the future. Noteworthy accounting firms can usually help with the transition and provide better services that are tailor fit for your business needs.

By Debra Wright

Debra Wright is a writer and avid blogger who broke into the realm of online marketing before it was cool. Wright has contributed to various sites and covers a diverse array of topics, from different kind of businesses to its financial status. She writes because she wants to know. Follow Debra on twitter @debrawrites

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