When small business owners have an accountant, who performs all the tasks that are given to them, in the period of time that they are asked of them, then most of them consider these ‘good accountants’.
However, this is not how we define a good accountant; in fact this is the real definition of a run-of-the-mill one!
It is for this reason that we are going to discuss what we believe are the actual qualities of a good accountant here in this article:
First of all, good accountants do not just do what you require them to, they go beyond that. In addition to processing your financial records, a good accountant will also assist you with their proactive advice on how you can grow your business, how you can cut back on the costs of a certain sector that is draining more cash than it is necessary from you, or even helping you to determine your return on investment (ROI). A good accountant also offers you a ‘benchmarking’ service, i.e. they will make comparisons between your business and those of your competitors in the same sector so as to help you in finding ways of improving yours.
Fundamentally, a good accountant adds more value to your business, whether it is through saving you cash, generating money for your business or even introducing your company to a number of their other clients, either using a networking event or by just passing on names and phone numbers.
Also, good accountants are always there for you when you need advice in your business, a service that they do not charge you for especially given the fact that most accountants nowadays charge for their services by the hour, even if they are needed for just a 2-minute conversation over the phone! What’s more, a good accountant will be performing so many other tasks on your behalf all the time you need them to.
Being Compliant; the Way of a Good Accountant
He or she will also inform you exactly when important paperwork for your business is due to make sure that there are no unnecessary fines incurred, and as long as you meet your part of the bargain, he or she will also take responsibility for any that have been incurred, on your behalf. A good account also makes sure that you are aware of any crucial deadlines, even going on to meet most of them for you.
Finally, a good accountant will provide you with the kind of advice you need to make savings on taxes, as well as general growth for your business, even when you have not requested for it! He or she takes the initiative to assist you wherever they can.