Whether your business has outgrown your current accountant, or you’ve been managing the books yourself until now, choosing a new accountant is an important step.
The process of changing accountants is fairly simple, but with so many factors to consider, it can feel like a challenge to make the right decision for your business.
To help you make your decision, we’ve answered some commonly asked questions about changing accountants, and explained the most important qualities to look for.
Should you use a local accountant?
With all the benefits of cloud accounting, video conferencing and more at your fingertips, you might wonder if there’s really any need for your accountant to be locally based.
But there’s no replacement for the expertise of a firm that’s based where you are and knows the area, and its businesses, inside out.
We offer the best of both worlds, with the convenience of digital solutions combined with the local knowledge we’ve built over years of working with businesses here in Farnham and across the rest of Surrey.
How much should you pay?
Cost is a big factor when you’re choosing an accountant, and it’s often hard to know exactly how much you should be paying for the service.
How can you make sure you’re getting the best possible accounting service for your money, without overspending on things you don’t really need?
The answer to this will vary depending on your business type, structure, size of workforce, and your goals. That’s why, on many accountancy websites, fees are not made public, but given as a quote.
At Munro & Partners, we want to make our services as transparent as possible, so we offer four distinct packages to suit businesses at different stages of growth.
These range from £80 per month to £300 per month, and cover everything from basic sole trader accounts to payroll for up to ten people.
We take each client’s circumstances into account when recommending a package, and we want to make sure they get the best value for their money with their choice.
We wouldn’t recommend that a new sole trader business starts with our most advanced packages, for example – but we do offer the flexibility to upgrade their services as their business expands.
What’s more, all of our packages include Xero cloud accounting software, so you’ll have access to easy-to-use, real-time accounting data whatever you choose.
If you’re not sure what kind of service you might need, read our guide for more information.
What should you look for in an accountant?
It goes without saying that knowledge and expertise should be at the top of your list when you’re looking for an accountant, and specialist sector knowledge can make all the difference to the value you get out of the service.
Ask about their experience working with businesses similar to yours, and their knowledge of sector-specific issues.
Another important factor is how your accountant communicates with you. You might want to ask about their methods of contact, whether that’s over email, phone calls or video chat, but it’s also important to consider what they’re like to speak with in your initial consultation.
Are they easy to talk to, and do they explain things clearly? Are they interested in your goals and challenges, and actively willing to help?
As of last year, digital VAT reporting became a legal requirement for those businesses within the scope of Making Tax Digital (MTD).
But there are many more reasons to get started with online accounting software, and it’s a good idea to check that your accountant not only offers MTD-compliant software, but has the expertise to get you up to speed with it and answer any questions you might have.
Looking for an accountant in Farnham?
We offer specialist accountancy services for creative industry businesses, professional services and software developers in Farnham and the rest of Surrey.
Get in touch to talk about changing accountants.