When it comes to running a business, having a reliable and trustworthy accountant is crucial. A good accountant can help you stay on top of your finances, ensure compliance with tax laws, and provide valuable advice for making smart business decisions.
However, not all accountants are created equal. Sometimes, it may be time to say goodbye to your current accountant and find a new one who better meets your needs. This is why it is important to find a reliable accountant like Sloane Winckless to avoid the trouble of having to switch further down the road.
In this article, we’ll explore 8 signs that it may be time to change your business accountant.
- Lack of Communication
Communication is key in any relationship, and that includes the relationship between a business and its accountant. You should be able to reach your accountant easily and receive timely responses to your questions and concerns.
Unfortunately, some accountants are notorious for being hard to get a hold of, or for taking forever to respond to messages and emails. If you’re tired of playing phone tag or waiting for weeks to get an answer to a simple question, it might be time to find a new accountant who is more responsive.
- High Fees
A good accountant is worth their weight in gold, but that doesn’t mean you should have to pay through the nose for their services.
High fees can eat into your bottom line and leave you with less money to invest in growing your business. If you’re noticing unexpected charges on your bill or if your accountant is not transparent about their fees, it may be time to shop around for a more affordable option.
- Inadequate Services
A good business accountant should provide a wide range of services to help you manage your finances, such as tax planning and preparation, financial statement analysis, and budgeting.
If your accountant is only providing basic services and not offering advice on financial matters or detailed financial statements, it may be time to find an accountant who can offer a more comprehensive package of services.
- Lack of Expertise
A good business accountant should be knowledgeable in a wide range of areas, such as tax laws and regulations, financial analysis, and industry-specific issues. If your accountant is not able to answer your questions or seems out of touch with the latest changes in tax laws, it may be time to find someone who is more of an expert in their field.
- Inadequate Technology
Technology is becoming increasingly important in the field of accounting, and a good accountant should be utilizing the latest tools and software to automate certain tasks and provide more efficient services.
If your accountant is still using outdated methods and not providing electronic copies of financial statements, it may be time to find someone who is more tech-savvy.
Professionalism is crucial in the relationship between a business and its accountant. You should be able to trust that your accountant will provide excellent customer service, meet deadlines, and conduct themselves in a professional manner.
If you’re noticing poor customer service, missed deadlines, or other unprofessional behaviour, it may be time to find a new accountant who is more reliable and professional.
- Neglecting the Business’s industry
A good accountant should be familiar and have a good knowledge of the industry in which the business is operating. They should be able to provide industry-specific advice and solutions. If your accountant does not understand the industry and the challenges it poses, it may be time to find a new one who can better support your business.
- Not Keeping Up with the Changing Laws
The laws and regulations are constantly changing, and it’s the accountant’s job to keep up with these changes and ensure compliance. If your accountant is not keeping up with the changing laws, it could lead to penalties and fines.
It’s important to have an accountant who is aware of the latest laws and regulations and can provide the necessary guidance to keep your business compliant. If you’re noticing that your accountant is not up-to-date on the latest laws, it may be time to find a new one who can better protect your business from potential legal issues.
Changing your business accountant can be a daunting task, but it’s important to remember that a good accountant is an essential partner in your business’ success. If you’re experiencing any of the signs discussed in this article, it may be time to start looking for a new accountant who can better meet your needs and help you achieve your business goals. A good accountant is an investment in your business, so choose wisely. With the right accountant by your side, you can rest easy knowing that your finances are in good hands and you’re on the right track to business success.