{"id":9703,"date":"2023-05-19T09:12:38","date_gmt":"2023-05-19T13:12:38","guid":{"rendered":"https:\/\/www.sage.com\/en-ca\/blog\/?p=9703"},"modified":"2023-05-17T04:32:28","modified_gmt":"2023-05-17T08:32:28","slug":"how-to-choose-an-accountant-for-your-business","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-ca\/blog\/how-to-choose-an-accountant-for-your-business\/","title":{"rendered":"How to find the right accountant for your business"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tHow to find the right accountant for your business\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2023-05-19T09:12:38-04:00\">May 19, 2023<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"How to find the right accountant for your business\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-ca\/blog\/how-to-choose-an-accountant-for-your-business\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n<div class=\"wp-block-post-author\">\n\t\t\t<div class=\"co-authors\">\n\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-ca\/blog\/author\/ryangrundy\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2023\/02\/Ryan-Grundy.jpg\" class=\"entry-author__image\" alt=\"\" \/>\t\t\t\t<span class=\"entry-author__name\">Ryan Grundy<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div>\n\t\t<\/div>\n\n\n\n<p class=\"\">When starting a new business, you\u2019ll need the best possible support to set up your\u00a0<a href=\"https:\/\/www.sage.com\/en-ca\/size\/small-business\/\">accounting<\/a>\u00a0and manage your finances.<\/p>\n\n\n\n<p class=\"\">This means finding an accountant that really understands your business needs and that can keep your company financially safe.<\/p>\n\n\n\n<p class=\"\">(This counts if your business is up and running too and you don\u2019t yet use an accountant.)<\/p>\n\n\n\n<p class=\"\">In this article, we help you do exactly that by covering:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"#how\">How an accountant helps your business<\/a><\/li>\n\n\n\n<li><a href=\"#difference\">Difference between an accountant and a bookkeeper<\/a><\/li>\n\n\n\n<li><a href=\"#to\">How to find a good accountant<\/a><\/li>\n\n\n\n<li><a href=\"#choose\">How to choose the right accountant<\/a><\/li>\n\n\n\n<li><a href=\"#final\">Final thoughts<\/a><\/li>\n\n\n\n<li><a href=\"#faqs\">FAQs on finding an accountant<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how\">How an accountant helps your business<\/h2>\n\n\n\n<p class=\"\">Accountants take care of your financial admin and provide you with ongoing business guidance.<\/p>\n\n\n\n<p class=\"\">As experts in all areas of finance, tax, and compliance, they\u2019re uniquely positioned to monitor your company\u2019s finances, warn you of problems before they arise, and reveal opportunities.<\/p>\n\n\n\n<p class=\"\">To help your business grow, they provide advice on everything from how to run a payroll and create business plans, to forecasting cash flow so you can secure loans or grants.<\/p>\n\n\n\n<p class=\"\">Luke Streeter, co-founder, accountant&nbsp;and chief&nbsp;operating officer at&nbsp;<a href=\"https:\/\/flinder.co\/\">flinder<\/a>, explains what you should look for and expect in a good accountant.<\/p>\n\n\n\n<p class=\"\">He says: \u201cYour accountant should be a business partner. They shouldn\u2019t be somebody you see once a year and you get a set of accounts from.<\/p>\n\n\n\n<p class=\"\">\u201cA good, modern accountant will want to meet you in person, or jump on a&nbsp;Skype\/Zoom call, and not just at the first introduction.<\/p>\n\n\n\n<p class=\"\">\u201cThey\u2019ll actually try to understand you and the business, then advise you what is best when considering the whole picture.\u201d<\/p>\n\n\n\n<p class=\"\">Accountants proactively use <a href=\"https:\/\/www.sage.com\/en-ca\/sage-business-cloud\/accounting\/\">accounting software<\/a> to keep your business financially healthy and legally above board, while also using data to help you make confident decisions. <\/p>\n\n\n\n<p class=\"\">This keeps you progressing towards your financial goals, while making it really easy to collaborate together.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"difference\">Difference between an accountant and a bookkeeper<\/h2>\n\n\n\n<p class=\"\">If you\u2019re trying to find an accountant for the first time, you might be wondering: \u201cWhat\u2019s the difference between a bookkeeper and an accountant?\u201d<\/p>\n\n\n\n<p class=\"\">The roles can\u00a0overlap, but accountants tend to\u00a0have more of a 360-degree view of business finances\u00a0and its compliance requirements, as well as its relationship with your overall business goals.<\/p>\n\n\n\n<p class=\"\">Bookkeepers tend to focus on the more here-and-now financial matters. As the name describes, they aim to keep your financial books in order.<\/p>\n\n\n\n<p class=\"\">Bookkeepers\u00a0might\u00a0visit\u00a0your\u00a0business\u00a0premises periodically to ensure\u00a0the\u00a0accounting is up to date. As such, they may use your\u00a0computer and your\u00a0<a href=\"https:\/\/www.sage.com\/en-ca\/sage-business-cloud\/accounting\/\">accounting software<\/a>.<\/p>\n\n\n\n<p class=\"\">As part of their job they might chase unpaid debts, or at least\u00a0inform\u00a0you they need chasing. They\u2019ll enter receipts on\u00a0to the system for your purchases,\u00a0and generally take care of the burden of ensuring your accounting is correct.<\/p>\n\n\n\n<p class=\"\">This can include tax preparations, or even managing payroll runs.<\/p>\n\n\n\n<p class=\"\">Having a bookkeeper has been described as having your own&nbsp;freelance&nbsp;finance person, and many businesses use both a bookkeeper and an accountant.<\/p>\n\n\n\n<p class=\"\">The accountant will step in at\u00a0certain times of the year to assist with compliance\u00a0needs, or\u00a0adopt more of an advisory role\u00a0across\u00a0the year \u2013 watching your profit and loss, for example, and warning of problems or pointing out opportunities.<\/p>\n\n\n\n<p class=\"\">An accountant will probably be&nbsp;required to create reports if you need to apply for financing, or if you need to audit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"to\">How to find a good accountant<\/h2>\n\n\n\n<p class=\"\">When it comes to finding an accountant, getting the right fit is vitally important. <\/p>\n\n\n\n<p class=\"\">After all, they\u2019ll oversee all your company\u2019s finances, be responsible for keeping everything above board financially, and will play a huge role in the decisions you make.<\/p>\n\n\n\n<p class=\"\">But there are so many options out there, and because of technology, you aren\u2019t limited to those local to your area.<\/p>\n\n\n\n<p class=\"\">So, where do you start? <\/p>\n\n\n\n<p class=\"\">Here\u2019s everything you need to consider.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Gather potential accountants<\/h3>\n\n\n\n<p class=\"\">Start your search using networks, directories, and online portals, such as the <a href=\"https:\/\/www.icaew.com\/\">ICAEW<\/a>. <\/p>\n\n\n\n<p class=\"\">These sites will direct you based on your needs, such as your preference for a member or firm, or any specialism or industry experience you\u2019re looking for.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Get references and check accreditation<\/h3>\n\n\n\n<p class=\"\">When choosing an accountant, it\u2019s always wise to do a background check&nbsp;on those you\u2019re considering and check their accreditation, which you can usually do online.<\/p>\n\n\n\n<p class=\"\">You could ask the prospective accountant to provide three client references.<\/p>\n\n\n\n<p class=\"\">It would also be useful to get a recommendation from someone who also works in your industry so you can be sure the accountant has a real understanding of what your business is about.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Create a shortlist of potential accountants<\/h3>\n\n\n\n<p class=\"\">Have a quick introductory chat with a few different accountants, get quotes and make a shortlist. <\/p>\n\n\n\n<p class=\"\">Establish how they prefer to communicate with their clients and if this fits with your needs, as this is an undervalued but crucial factor in how well you\u2019ll work together.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Is your accountant\u2019s location important?<\/h3>\n\n\n\n<p class=\"\">Technology allows you to work with accountants that aren\u2019t necessarily based in your immediate region. <\/p>\n\n\n\n<p class=\"\">Of course, you need them to operate within your country so that they have expert knowledge of the regulations you need to meet. <\/p>\n\n\n\n<p class=\"\">But beyond that, you could hire anyone you feel is the right fit. Just be aware that if you get the most value from in-person meetings, location will be more important.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"choose\">How to choose the right accountant<\/h2>\n\n\n\n<p class=\"\">Once you\u2019ve trimmed your options down, it\u2019s time to choose which accountant to hire. <\/p>\n\n\n\n<p class=\"\">Here\u2019s what to consider when figuring out who will be the best fit. &nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Check your accountant\u2019s costs<\/h3>\n\n\n\n<p class=\"\">Cost will be one of the most significant factors in your search to find an accountant.<\/p>\n\n\n\n<p class=\"\">The way an accountant works out their charges or fees can potentially save you thousands of pounds.<\/p>\n\n\n\n<p class=\"\">Always ask for a quote based on workload rather than what your company is making. Some accountants have stopped working on fee basis and instead ask their clients to pay a monthly retainer.<\/p>\n\n\n\n<p class=\"\">This can represent excellent value for money because it means the accountant is always there, ready to answer a query or undertake work.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Accredited or certified accountants<\/h3>\n\n\n\n<p class=\"\">You\u2019ll also need to decide whether to work with an accredited or certified accountant. Their status is determined by how they are regulated and recognized in your country.<\/p>\n\n\n\n<p class=\"\">For example, chartered accountants (CAs) have completed a minimum of degree-level study, workplace experience, and a professional competence program. They are also members of a professional body.<\/p>\n\n\n\n<p class=\"\">This means they have the knowledge and experience to help you with all aspects of accounting and will be especially useful if you\u2019re looking to secure loans or if you\u2019re audited.<\/p>\n\n\n\n<p class=\"\">A certified accountant is less qualified than a chartered accountant, but they have still completed an industry recognized course. This means they can deliver straightforward accounting services and help you manage your finances. \u00a0\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Stay in contact with your accountant<\/h3>\n\n\n\n<p class=\"\">This is something you also need to keep up on your end,&nbsp;otherwise your accountant won\u2019t be able to provide you with the best advice.<\/p>\n\n\n\n<p class=\"\">Keep in touch regularly.<\/p>\n\n\n\n<p class=\"\">Companies often go into liquidation simply because they haven\u2019t kept their accountant in the loop, and it\u2019s been too late to salvage things after the accountant has stepped in.<\/p>\n\n\n\n<p class=\"\">By telling them what you want, you\u2019ll&nbsp;ensure they can adapt and evolve to newer ways of working to help you grow your business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Choose an accountant that provides added value<\/h3>\n\n\n\n<p class=\"\">There are many accountants who\u00a0go over and above for their clients. Some are happy to recommend accounting software\u00a0based on your individual needs.<\/p>\n\n\n\n<p class=\"\">Others like to hold regular networking events and business workshops.<\/p>\n\n\n\n<p class=\"\">Some will even give you regular reviews of your finances free of&nbsp;charge and&nbsp;make recommendations to ensure you get the best profitability.<\/p>\n\n\n\n<p class=\"\">When choosing an accountant, pick one that has a real understanding of customer loyalty and retention.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Questions to ask when choosing the right accountant<\/h3>\n\n\n\n<p class=\"\">When you\u2019re ready to start speaking to accountants, the questions you ask are really important. You need to determine how well each accountant could fit your business, which depends on quite a few factors.<\/p>\n\n\n\n<p class=\"\">Try asking:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>What are some examples of other businesses you serve in this industry?<\/li>\n\n\n\n<li>What is your preferred way to keep in touch?<\/li>\n\n\n\n<li>How often do would we have meetings\/check-ins?<\/li>\n\n\n\n<li>How do you charge?<\/li>\n\n\n\n<li>What services will I get?<\/li>\n\n\n\n<li>What areas are your specialties?<\/li>\n\n\n\n<li>How could you help me grow my business?<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Keep your records up&nbsp;to&nbsp;date<\/h3>\n\n\n\n<p class=\"\">You\u2019re legally obliged to keep all your tax up to date, so keep a file of all your bank statements and relevant financial documents for six years.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"final\">Final thoughts<\/h2>\n\n\n\n<p class=\"\">Choosing an accountant is one of the most important decisions you\u2019ll make in the life of your business, and a\u00a0good accountant\u00a0really can make all the difference between success and failure.<\/p>\n\n\n\n<p class=\"\">The days of accountants sitting in dusty offices working out tax bills are long gone.<\/p>\n\n\n\n<p class=\"\">Nowadays,&nbsp;accountants anticipate being your business partner, and are as focused on your business growth and success as you are.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"faqs\">FAQs on finding an accountant<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">How do people find accountants?<\/h3>\n\n\n\n<p class=\"\">The simplest way people find accountants for their business is using online networks, directories, and portals. <\/p>\n\n\n\n<p class=\"\">They also ask for recommendations from other business owners in their industry or region.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What questions should I ask an accountant?<\/h3>\n\n\n\n<p class=\"\">The main questions to ask an accountant are how they charge, what their services cover, their preferred method of keeping in touch, and what relevant experience they have. <\/p>\n\n\n\n<p class=\"\">Their answers will reveal how well they\u2019re likely to fit your business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">At what point is it worth getting an accountant?<\/h3>\n\n\n\n<p class=\"\">You can hire an accountant at any stage of your business journey. <\/p>\n\n\n\n<p class=\"\">Whether you\u2019re just starting out or have been managing the finances yourself for a while, an accountant will free your time by taking care of the admin and advising you on vital financial matters.<\/p>\n\n\n\n<p class=\"\"><em>Editor\u2019s note: This article was first published in July 2017 and has been updated for relevance.<\/em><\/p>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice Newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p class=\"cta-content__title\">Get a roundup of our best business advice in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-8949a954-88b2-43bb-8b8a-77c53eb34350\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1073797282-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1073797282-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Looking for an accountant for your business? Find out how an accountant can help, what to look for, and how to choose the right accountant.<\/p>\n","protected":false},"author":1398,"featured_media":9719,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[7],"tags":[266],"business_type":[3],"lilypad":[],"context":[],"industry":[],"persona":[],"imagine_tag":[67],"coauthors":[313],"class_list":["post-9703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-matters","tag-business-finances","business_type-small-business"],"sage_meta":{"region":"en-ca","author_name":"Ryan Grundy","featured_image":"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2023\/05\/GettyImages-1097995910-640x640-1.jpg","imagine_tags":{"67":"Small business"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice Canada English","distributor_original_site_url":"https:\/\/www.sage.com\/en-ca\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/posts\/9703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/users\/1398"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/comments?post=9703"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/posts\/9703\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/media\/9719"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/media?parent=9703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/categories?post=9703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/tags?post=9703"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/business_type?post=9703"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/lilypad?post=9703"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/context?post=9703"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/industry?post=9703"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/persona?post=9703"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/imagine_tag?post=9703"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/coauthors?post=9703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}