What to ask your Accountant – Advise for Business Owners

An Accountant surely isn’t the one who can just play with numbers, there is much more one can expect from them beyond those number games and calculations.  Be it the task of calculation or advice on any other business operations; make sure you don’t forget to consult your accountant.

Thus, it is really crucial to find an Accountant who not understands his job, but possesses knowledge about business to a greater extent.

But the main question that lies at the end of this, how is this achievable? How can one derive the maximum advantage out of their accountant in terms of business growth?

Presenting a perfect guide to all the business owners out there, these five tips will definitely help you build a rewarding relationship with your accountant.

1. IDENTIFY YOUR STRENGTHS AND LIMITATIONS

Today’s world completely runs on the lines of ‘Survival of the fittest’. Nowadays, it is more about quality and less about quantity.

Why does one not repair his own photocopier?

Photo copying, a task as easy as this, but still people prefer to outsource it, why?

Perhaps, the only reason that they do so is that they realize it can be done in a much cost efficient and effective manner, that too reliably.

A good businessman always works in the area of his expertise, and understands to importance of perfection when it comes to professional terms. 

At the end of the day, returns are all that matter. Solving problems at business level is not a problem if it comes in a cost effective way. Outsourcing some of your non-core tasks while focusing on the core activities, will definitely help fetch better returns.

2. CONVINCE YOUR ACCOUNTANT TO ASSSIST YOU

Performing the same task multiple numbers of times, making edits regularly and minor calculation errors is what extends the work of an accountant .The more organised and automated your business is the more productive work your accountant can perform.

All the time saved from monotonous tasks can be then utilized towards the planning for the growth and expansion of the business.  The fact that accountants are well paid for their jobs keeps them motivated enough to work for the company in all possible ways.

These are few possible suggestions that can help your make the best of your accountant, and too in a much cost effective manner:

  • Ask for a crisp checklist from your accountant before he starts the work; provide him with all the documents quickly and in one go.
  • Answer queries of your accountant as soon as you possible or assist him with the right guidance required for the same. Also, don’t forget to follow-up.
  • Take action in a proper and timely manner and implement the solutions agreed with your accountant to save the need for follow-ups.
  • Seek input from your accountant about how to improve your housekeeping to make their lives easier.
  • Help him coordinate with the technology department, so that most of his work automated.

3. BE CLEAR AND PREPARED WITH YOUR IDEAS

As a business, you should always set goals which can be targeted and achieved. Work out different plans, compare them through deep analysis and only then reach to your accountant or any other professional for assistance.

Doing all this before reaching out to your accountant can help you set practical goals and perform analysis in a much better way.

It is rightly said that, “time wasted is wealth wasted”, so make sure that you don’t forget to do your homework beforehand, and take out and the best out of your conversation.

4. NEVER MISS OUT ON ‘FREE’ CONSULTATIONS

Keep updating your accountant with what all is happening in your business. Prepare a bulletin list of all the points that need to be discussed. Discuss about the business situation, the problems you’re facing and all the possible solutions to it.

In this way, the accountant will have enough time and background of the information and can think over it. It would also help the accountant realise his true potential, and would motivate him to work better for your organisation.

5. ‘HASTE MAKES WASTES’ – NEVER LOOK FOR SHORT-CUTS

It is rightly said ‘An opportunity once lost, never comes back’. So, it is better to       make the most of your interactions with you accountant. It may involve a little cost, but it would definitely fetch you profits in terms of higher returns in future . All the effects and implications of a business plan should be taken into consideration well in advance so as to avoid any consequences in future.

Are you also worried? Get the best advise from Tax Experts Accountants, contact us.

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