A few checks to ensure a profitable relationship for your business
In our previous articles we’ve enlisted quite a few times, the ideal qualities of an accountant and why you probably need to get an accountant for your business. If you are reading this now, it is likely that you have found the need for an accountant or already have one and seek to make the relationship profitable for your business.
Small and medium sized business owners will often reach this cross-road sooner than later. A cross-road where you decide how much of the bookkeeping you could manage to do by yourself. Every successful business venture requires the watchful eye of qualified accountant, and here is how you could enrich the relationship to guarantee absolute effectiveness from your dealings with your accountant.
1. Set price expectations:
This is one of the most basic and initial steps when it comes to availing any kind of service in the market. Having this out of the way allows providers and clients to focus on what is truly important, the service itself. You should be able to easily map out the returns that you would get on the investment you’d make. After all, the fees you pay an accountant will also be reflected in the books as an operational cost, and this should be treated with prompt attention.
2. Integrate accounting expenses into your budget:
As we mentioned earlier about small and medium sized businesses coming to a crossroad of needing an external accountant, this is about another such crossroad. Here is when you see your business growing and this automatically translates into a heavier responsibility for your accountant. Therefore, it’s wise to consider and anticipate such budget fluctuations.
Your accountant is not someone who comes in and out of your business. An accountant is more like your business partner, than a visiting consultant. Maintaining absolutely openness is key to getting the most out of this relationship for both parties. If you can’t trust your accountant, you should reconsider.
If you’d like to know a bit more about how we might be able to satisfy your needs, drop us a line and we would be happy to have a chat.