Choosing the right accountant can quite literally pay dividends, but choosing the wrong one can be a costly mistake!  So where do you start and how should you choose?

Whether you need help completing your tax return, or with a start-up business, or are just dissatisfied with your existing accountant - how can you ensure you pick the right one for you?

1.      Make a short list

First, consider accountants that look as if they might fit.  How do you find them?  Ask business associates, friends and family for recommendations, use Google or other search engines to search in your local area, contact your local Chamber of commerce, use on line directories, and yes ? don?t forget the yellow pages or Search Accountants!

2.      Check for suitability

Now it?s time to dig a bit deeper. As a rule of thumb narrow it down to 3, no more than 5 prospects (or it becomes too confusing and time consuming).  Make initial contact with each accountant and establish whether they offer an initial free consultation.

Be sure to ask what nationally recognised qualifications they have, do they have a web site (be sure to check it out), do they have experience in your kind of business and/or company?  And most importantly - do they charge fees on a fixed price basis or by the hour?

3.      Meet the Accountant

You always need to have a good working relationship with your accountant.  And this is  especially true when your business encounters unexpected challenges or opportunities.  You don?t need to be best buddies, but you do need to feel that you can develop a good working relationship - one based on  mutual respect and understanding.

Prepare a check-list of questions to ask each accountant.  Once there, do they speak your language, do they have time for you (are you a small fish in a big pond), will they go the extra mile, can they provide client references (do be sure to follow up), and most importantly - do they offer friendly, ongoing and attentive support (without charging the earth!)?

4.      Make the choice

Whenever possible, try to ensure your accountant charges on a fixed fee basis.  The biggest problem between client and accountant normally boils down to the level of fees. 

But remember, the least expensive is not necessarily best accountant for you.  If you want more personal and ongoing advice, you need an accountant with a combination of  both hard and soft skills.

Sure, you need an accountant with highly professional technical skills (accounting, tax, bookkeeping, business planning, financial strategy), but also someone who is a capable of  active listening and who can clearly and patiently communicate back  to you in a timely manner.

Above all, you need to be with an accountant with whom you feel comfortable.  After all, the best relationships are long term!

For further information go to www.developyour.biz or call Phiip Caplan on 020 3191 9369.