How to Choose An Accountant for Your Limited Company.
When deciding on an accountant, it’s important that you choose the right one for the right reasons. For limited companies, there are two options on the table. You can choose to handle everything yourself but this isn’t efficient and may be very time-consuming. The majority of limited companies will opt to use an accountant to help with their tax planning and bookkeeping. So how do you choose the right accountant for your business?
Choose a Specialist
Most qualified accountants will be able to help you manage your money, however you should choose one that specialises in helping you manage your finances dependant on your needs. Perhaps an accountant that specialises in small businesses for example. By choosing a specialist, you will be offered a more superior service than a general accountant.
Specialists tend to offer a monthly fee which includes a dedicated accountant, bookkeeping support, payroll services, VAT support and tax planning. You may find packages include different solutions for different people, which is why it is best to speak to a variety of accounting firms to make sure you're getting the best for your money.
Small or Large firm
You may not initially think about the size of the accountancy firm, however it is a good point to consider. You want to make sure you are getting the best service from your chosen accountancy. If you would like to speak to the same person each time you phone or email the company, then you might want to choose an accountancy firm who offer a dedicated accountant just for you.
Recommendations are important for most things in life. You wouldn’t buy a product without reading the reviews so why would you choose an accounting firm without finding out about the quality of service they offer. Always read the testimonials and speak to other professionals to get their opinion. You want to make sure you get a highly credited company.
Do background checks into your potential accountants. This will help you learn more about them, their background and find out about the type of relationships your new accountant has with other clients. By doing so, you will find it much easier to decide if they are the right accountant for you.
Cost of Services
As a limited company, you want to make sure your money can stretch as far as it can go. Comparing the costs is important when choosing an accountant.
Check that everything is included and there are no hidden costs. You shouldn’t have to pay an additional cost for certain software or for a deadline reminder. These should be included in your monthly fee.
Find Out What Software They Use
Does your new accountant have preferred software that they use? By finding an accountant that uses well known accounting software, and can teach you how to use it, will help avoid issues when sharing data and reduce the risk of valuable information being lost.
Remember, good accountants will help your company grow so don’t be afraid to take some time into finding the right one for you and your company.
If you would like to learn more about Byte Accounting and whether we are right for you, feel free to get in touch.