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Posted by on Dec 11, 2017 in Finance | 0 comments

Signs it’s time to change your accountant

Signs it’s time to change your accountant

Most business owners hire one accountant or accounting firm when they start the company and then use their services for years, even decades, but this isn’t the best idea. Sure, there might be cases where the standard doesn’t drop, but, most of the times, many businesses that use the same accounting services for such a long period discover that their bookkeeping is no longer effective or that they’re paying too much in taxes. To avoid financial complications, you should know how to spot the signs of below par accounting services and, if necessary, replace your current service provider with a better one. Here are the issues you should watch out for:

Your accountant has problems adapting to your new legal structure

When your business changes, your accountant should be able to keep up. If you’ve changed the legal structure and your bookkeeping has been chaotic since then, maybe the accountant is not familiar with your particular structure. Some firms specialize in a particular type or size of businesses and they’re not familiar with your current needs and requirements. In this case, waiting for them to adapt to the new structure is a risk that’s not worth taking. Not only will this lead to a disorganized schedule, but they might make mistakes that cost you money. To avoid that, resort to a large and experienced company such as http://www.accountantsfullertonca.com that can handle any type of business.

Your accountant is not saving you money

An accountant’s main job is to help you do your taxes and sort out your financial responsibilities, but they should also advise you how to spend your money so as to save as much as possible. If your accountant doesn’t get involved in financial management, find someone who is able to provide you with a more personal approach. They should be able to tell you how to get tax deductions and how to avoid overspending. Even if it is your money and you will have the final say, you still need professional accounting advice.

Unexpected taxes

One of the best times to check how right your accountant is for you is at the end of the fiscal year. If you think you are doing fine until then but then your accountant drops in and tell you that you have a huge payment ahead of you, then it’s time for a change. A professional accountant should always be straightforward about your taxes and let you know about major changes three months ahead of time, so that you have time to adjust.

You don’t communicate well

Last, but not least, the relationship between business owners and accountants should be based on transparency and communication. If your accountant has too many clients and they never have the time to answer your questions, or they’re too busy to pick up the phone outside your regular meetings, find someone who can dedicate you more of their time.