Are you in the market for an accountant for the first time, or considering switching from your current one? Finding an affordable accountant for managing your business finances effectively is important. In this article I want to talk through looking for an accountant for your business, but also what other areas you may need to consider.
What to Consider When Choosing an Affordable Accountant
When it comes to looking for an accountant that suits your business the best, the costs involved definitely play a major role in deciding who to give your business to. However, people do fall into the trap of solely looking for an accountant that will do the work for as cheap as possible, and not necessarily who will provide them with the best service for their money. The following are key areas we believe your business should evaluate in this decision making.
The Importance of Affordability
Of course the first major area will be the cost, you need to have an accountant that is affordable for your business. Even if the service they will provide will be a very good one, there is no point in selecting an accountant that is costing too much and will cause any cash flow issues for you. It is always best to shop around and get different quotes to make sure you are getting value for your money.
Beware of Hidden Costs
When looking for an accountant, it is best to check what all the costs are going to be, and if there are any additional adds-on services you will have. You may receive a quote through for the standard work and it come in quite cheap, but then be hit with additional bills for the likes of phone calls and emails, so it is best to check what all is included in the fees you are paying before being surprised.
Expertise Matters
When looking for an accountant, it is best to have one that can handle the full scope of work that you will need as some may not have specific services that you require such as payroll processing or bookkeeping services. Ideally you want an accountant that is not just affordable, but also has the expertise to handle all aspects of your business.
Consider Location
Location may be something that is important to your company if you are wishing to have face to face meetings, although with the advancements of technology this may not be as relevant today as it used to be. If you are unsure if you need an accountant that is close by to your business you can read our other article on this.
Check Reviews
This may seem like a simple one, but do not underestimate the value of reviews, whether this be online reviews or recommendations from other businesses. Gauging who to pick can be difficult, so if there are accountants that you have had positive feedback about, whether it be about the service they provide or the affordability, it is a great starting point in your decision.
Do I need an Affordable Accountant?
The answer to this is yes, you do need an accountant that is affordable to your business, however finding the cheapest accountant should not be the main priority as you need one that will also provide the level of service that you need. It is recommended to get different quotes for what you’ll need to ensure you don’t end up paying too much for the same service. If you would like to discuss what you will need and get a quote for the work, please contact us and we can go through all of this with you.
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