When is it time to change your Accountant?

It’s never been more important to get sound financial advice for your business than during the last few months. COVID-19 has had a severe impact on businesses and in turn the economy, testing the most experienced accountants, who try to help their clients to maintain cashflow and in some cases stay afloat!

How do you know whether you are receiving the right support? Here are our 5 top tips on what to look out for when reviewing the support from your accountant:

  1. They don’t offer advice and just crunch the numbers.

There’s more to being a great accountant than just preparing tax returns and bookkeeping. Every business, no matter what the size, needs strategic financial guidance, acting as your Finance Director to help you optimise profits. An accountant that can offer you sound business advice is worth their weight in gold and can help you to save money on tax, structure your company better and reduce any interest you are paying… in fact the list is endless!

  1. You can never get hold of your accountant.

Perhaps you get the sense that you are the bottom of the pile of their client list and lack the interest in your business? If you can’t get hold of your accountants within a reasonable time then alarm bells should definitely be ringing!! If you have to continually chase your accountant then it’s definitely time to consider switching.

  1. “Oops sorry, it was our mistake”

If your accountant is not experienced, is too busy or their professional knowledge is not up-to-date, then mistakes can be all too common… even by well-known accountants! Mistakes can be very costly for your business and can result in unwanted bills and wasted time on your part to sort out the problem.

  1. Does your accountant have a broad range of accounting knowledge?

Every business is different with a unique set of challenges they face and having an accountant with a broad range of skills and experience can help you tap into a resource which best suits your business. For example, a start-up will need a very different service from an accountant than a large business that needs to deal with mergers and acquisitions, audits and complex company structures.

  1. Do you enjoy working with your accountant?

Just like any member of your team, if you don’t like working with your accountant then it’s definitely time for a change. Does your accountant inspire you and help your business thrive? We always work better with people who we like and trust… it’s not just about the numbers, it’s about the people too!

If any of these points ring true about your current accountant then perhaps it’s time to switch. GM&Co are the ‘Accountants With A Difference’, well known for our experience and practical approach to supporting your business. Plus, we believe a friendly smile and a good sense of humour goes along way too.

If you would like to find out more about how the GM&Co team can make a difference to your business, why not give us a call on 0121 550 8509 or alternatively email info@godfreymansell.co.uk.