Finding the right accountant for your business is already hard. But to actually talk and starts discussing matters with them, that’s where things get complicated. You don’t want to talk to an accountant who doesn’t know anything, or to someone who knows everything but can’t fully communicate to you the things you need to know.
So to assist you in communicating with your accountant, here are some of the questions that you should be asking them. Some of the questions are a bit intimidating, but you need to ask them these so you are on the same page.
How do you charge fees?
Talking about service fees can be awkward. But since you are requiring a person to render professional service, asking them about their rates is just necessary. So don’t be shy or embarrassed in asking your accountant on how much he/she will charge for helping you with your business. Besides, you don’t want to receive a bill that will shock you at the end of the month. Normally, your accountant will discuss with you the services and rates and they will have you signed a contract before starting the work. But it is okay to ask first about their rate, in case you are not prepared to be involved in a deal that is beyond your budget.
How often should we be in contact?
Constant communication with your accountant is important. You need to know the status of your business and finances every now and then. So you need to establish with your accountant a definitive schedule where he/she can just update you with the status of your business. Also, you need to check if these meetings and consultation is part of the service that you are paying.
Also, it is good to note if you can contact your accountant even beyond work hours for any emergencies. You don’t know when emergencies can happen, and it will be good if you have a professional that you can rely on during these times.
How will you be able to help me prepare for my tax?
Your accountants know a lot about tax. They can help you with tax filing and can even help you save on your tax. So even though you don’t know anything about the bits and pieces, don’t be shy to ask your accountant about it. It is important that you know where your money is going.
How can you help me improve my business or my finances?
Be open with ideas. Always talk to your accountant on how he/she can help you succeed in your venture. They know the numbers and for sure they know strategies that will help you improve these numbers. May it be in terms of tax savings or cash flow management strategies. Don’t be shy in asking them.
What am I doing wrong?
The truth is, if you have a good accountant, you don’t have to ask this question. Because a good accountant will initiate in telling you what you are doing wrong. He/she will even suggest on how to better improve your business. But in the event that you are a bit doubtful, you can always ask your accountant for advice. Just don’t be shy about it.
These are just some of the questions that most of us are too intimidated or embarrassed to ask our accountants. But we should not be shy in asking them. They are there to help us. If you have other questions that are too afraid to ask, we, at Savvi Accounting and Shared Service, are ready to accommodate you.
We treat our clients as members of our business, thus, we want to help them as much as possible. Their success is our success.
Talk to us now and we can give you a free one hour consultation anytime you are ready.