Your accountant should offer more than general accounting and tax services. You should be able to turn to them for advice on most areas of your business. If they can't help you themselves, there's a good chance they have someone in their network who can. Having an accountant who looks after your best interests is therefore a vital cog in your business armoury. So how do you get the best out of your accountant?
Know Your Limits and Value Your Time
If you have an accounting or business related question, the reality is, with the help of the internet, you could probably work out the answer or a solution yourself. Whatever your problem is, there is a good chance that your accountant has seen it before and knows the solution. This process might cost you some money but it is likely that this is worth more to you then the time it will take you to figure it out yourself. If someone else can give you what you need for $100 in what will take you 5 hours what would you rather do?
If you want your work done efficiently, do your best to provide all relevant information at once to save too much back and forth. No one is helped by constantly putting down and picking up work. Remember, that the less time is spent in processing work, the more time that is available for critical evaluation and strategic thinking.
Look for Value
Accountants often offer free consultations to discuss how they can best help you and your business. Take advantage of them, even if it just a phone call. Doing some due diligence and finding someone you not only trust but can get along with is a key part of establishing a long term business relationship.
Many business decisions have tax consequences or flow-on effects that can effect other parts of your business. Accountants can be a great sounding board when it comes to making crucial business decisions. Pick up the phone and chat to your accountant if you are conscious that there may be something that you have not yet considered. Doing this can be a lot more cost effective then trying to unwind a poor or misunderstood business decisions.
Co-Pilot Advisory is always happy to chat to you about how they may be able to assist you and your business. Should you wish to arrange a 30-minute consultation, please CLICK HERE