How to Choose the Right Accountant for Your Business | SmallBizClub

Deciding on an accountant to manage your business finances is a huge decision. The accountants you choose will have a huge influence on your tax returns, bookkeeping practices and payroll management. Moreover, if the person you select is difficult to work with, it can make running your business challenging. For an expert service, use a recommended accounting firm such as Accounted For in Cardiff, Wales, UK.


Considerations Before Hiring Your Own Dedicated Accountant

What Accounting Services Do You Need?


Before hiring an accountant to manage your business accounts, it’s important to consider a number of key things. Ask yourself what accounting services you think you’ll require for your business. Here are some of the main ways an accountant could support you:


  • Annual accounts and tax returns
  • Financial advice
  • Increased tax efficiency
  • Setting up accounts for a new business
  • Online accounting services
  • Payroll management


Consider which of these things your business needs support with before paying for an accountancy service. Additionally, it’s important to consider the kind of business you’re running and what kind of service you may need.


Freelancers, small businesses, limited companies and sole traders will all have different accountancy services. Therefore, it’s important to find a professional who is familiar with supporting your kind of business.


What is Your Accounting Budget?


The amount you’re willing to spend on accounting will have a big impact on what services are available to you. If you’re a small business, your accountancy costs will likely be low, whereas a larger business, may have a larger scope of accounting needs. This could include factors from managing international transactions to regulatory fees and taxes.


Without proper understanding of the exact accountancy service you need, you may be shocked by the cost and budget required.


Guide to Vetting Potential Accountants

Once you have a clearer idea of what your business requires from an accounting firm, it’s time to vet potential accountants. In the follow sections are a few of the key factors to help you decide which accountant to hire.


Importance of Accountant Experience


Consider the degree of experience different accountants have; how many years’ experience do they have? Do they have experience supporting companies like yours? Are they familiar with the services you require? Have they served small businesses or large corporations?


An accountant’s career experience can be a key indicator of whether they have the skills you need. Hiring a newer, less experienced, accountant might be cheaper, but you may be opting for a smaller skillset.


Reputational Considerations


An accountant’s reputation is also important to research before hiring them as your dedicated accountant. Look at reviews and testimonials from previous clients and look at the calibre of business they’ve worked for.


This research may reveal some telling signs that could inform your decision. You should look for expert accountants with glowing reviews and testimonials from legitimate former clients. This is the sign of a great company.


Accounting Qualifications and Memberships


Another clear sign of accountants’ reputation are the qualifications and memberships that they hold. Memberships with the Association of Chartered Certified Accountants (ACCA) and Institute of Public/Financial Accountants (IPA/IFA) indicate that the accountants adhere to UK and international standards on accountancy practices.


Firms who join the AAT (Association of Accounting Technicians) are also worth looking out for. This membership indicates that professionals at the firm have industry-standard qualifications.


Membership with the Institute of Certified Bookkeepers (ICB) is also a positive sign that the firm abides by professional ethics and standards.


Choosing the Right Accounting Firm For You

Communication and Accessibility


If you’re looking for financial advice it may be particularly important that you vet a few accountants in person to assess their communication. An accountant’s inability to translate technical financial jargon into common English will not be helpful for you.


You also want to receive a polite and friendly accountancy service as you may be communicating with them often. Helpful phone and email support from their team will differentiate the good from the bad.


Those with CRM (Customer Relationship Management) software are also worth considering. This will ease the flow of communication between parties.


Online Accounting Software


For convenience and accessibility it may be important to you that a firm offers online accountancy software. There are several online accounting software providers today, including Sage, QuickBooks and Xero to name a few.


Cloud accounting software such as this makes communicating with an accountant, viewing and managing your finances much easier. It may be worth weighing up which online accountancy services you like best and see which accountants offer it.


For example, if you’re a contractor who is always on the go, online accounting software with mobile apps may be most important for you. Alternatively, you may own a café and need to have bank account integration with your Point of Sale system.


Local Accountant or Online Accountants


Using cloud accounting software also means that you may not be limited to a local accountant. Perhaps there is an individual elsewhere in the world with highly-relevant experience to a business like yours. In which case, it might make sense to join an online accountant for their particular bookkeeping expertise.


There are some online accountants which offer a strictly-online service. It’s definitely worth weighing up how important it may be for you to meet with your accountants in person.


Accounting Strategies and Practices


You may be looking to receive expert advice on how to complete you tax returns, increase your tax efficiency. Alternatively, you might want to restructure your businesses to save time, money and resources.


In these cases, you’ll need an accountant that is known for their expert advice and accounting strategies. Discuss with potential candidates how they have helped past clients improve their bookkeeping or tax strategies.


Fees and Billing


It’s important to look carefully at fee structures before taking on an accountant. They might charge a fixed monthly fee or an hourly fee, and they may charge extra to submit tax returns.


Another incredibly important aspect is to read the small print for any hidden costs. You would not want to hire an accountant without full understanding of the money it will cost for their accountancy services.



When you finally select an accountancy firm, it is crucial that they save time and money for your team. Whether you’re a limited company or a sole trader, expert accountants will do whatever they can to help you financially.


Considering all the factors listed in this article, find an accounting solution which meets your needs and the needs of your business.

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