Accounting is a complex thing, and financial results are difficult to understand for the average business owner. Most haven’t studied “how to” do business and rely on their tax accountant to explain what everything means. The accountants who genuinely care about you and your business will pick up on the “eyes glazed over” cues and attempt to educate you as to what your financial results actually mean. Those accountants who are just in it for the money will move onto the next client, job done. You need an accountant who cares about you and your business.
Here are the signs that you should sack your accountant:
- The initiate communication only once per year when requesting your taxation information
- They charge you each time you call them
- They take days to return your phone call. You must schedule a time to speak with them at all.
- Your accountant gives you suggestions on what to improve in your business, but not how.
- You can’t book an appointment to see them for a month
- You get handed over to a junior each time you call or meet
- Signing your tax return and completing your compliance is the most important thing to them
Here’s what you should experience instead:
- You regularly receive a “catch up” call from your accountant wanting to know about business and life.
- No charges for phone calls and upfront fee agreed upon with regular payment schedule available.
- If you call your accountant, they answer your call or return it within 24 hours
- You have a regular scheduled appointment time with them to review your business. It’s booked in advance.
- Your accountant has a genuine interest in your business and improving it. They show you how to achieve that.
- Your accountant values the relationship you have with them and supports you in the ups and downs of your business
- The most important thing to your accountant is supporting you with your business and helping it grow.
There’s a catch though. No accountant can help educate you about your business unless you really want to learn all about it and what it means. Sticking your head in the sand doesn’t grow a business; it kills it. Understanding the financial results of your business is an imperative skill for sustainable business growth and one you should aspire to. It doesn’t happen overnight though; it takes time and a commitment to learn. To be educated requires you to learn from an educator and the best educators are those that genuinely care about your business. Want to grow your business? Go out and find a new accountant, you business will thank you.