At Optimised Accounting, a frequent thing we hear from new clients that have just moved across to us is that their previous accountant didn’t really communicate or give any advice that added value.
Especially with Covid-19, we find that regular communication is so important. Our business clients often remark how crucial it’s been to have their Accountant on their side, looking after them during these challenging times. To find out about how our managed clients are more like a relationship, read here.
When you first started your business, you may have only needed basic advice and to speak to your accountant once a year at tax time. However, as the business grows you will increasingly need a specialised Business Accountant thats able to give advice and guidance along the way. This is an Accounting firm dedicated to your success and with the tools to assist.
Let’s make 2022 the year that you focus on (and improve!) your business – and switching Accountants could be the first step in the right direction.
Here are 10 signs you have outgrown your Accountant:
- They aren’t looking to the future
- They’re late adopters to technology
- You miss deadlines
- They lodge returns without your approval
- You don’t know your numbers
- They don’t add value to your business
- You don’t trust them
- They don’t focus on customer service
- You’re not on the cloud
- They send things in the mail
Does any of this sound familiar? Let’s go into some more detail:
1. They aren’t looking to the future
If your Accountants are only ever doing what is needed right now (or what is overdue), then they won’t be thinking about what’s coming up on the horizon.
A proactive Business Accountant will be so much better for your business!
Things like tax planning and checking in on a regular basis mean you and your accountant are looking forward rather than backwards. The same deadlines occur at the same time each year so why not have a plan such that you know what to expect and prepare for?
2. They’re late adopters to technology
If your Accountants struggle with new technology, innovation, apps, and don’t really understand the need for cloud based systems, then you’ll be stuck in the horse and buggy days. Your business deserves an Accountant that is up with the times. Using newer technology can free up your time to focus on the important stuff, like growing your business!
At Optimised Accounting, we were born on the cloud, so we haven’t had to adapt to it at all. Everything we do is on the cloud and we are always looking at new systems and ways to these can improve our clients’ businesses.
Covid-19 was and continues to be a good test at who uses technology easily, and who struggles to adapt.
3. You miss deadlines
Unless you haven’t passed on specific information that your Accountant has asked for, or you are delaying lodgement for a purpose, you shouldn’t be missing deadlines if you are using an Accountant. You should receive reminders and be prompted if you are running close to the deadline. One of the reasons you hired an Accountant to begin with was so you don’t have to remember these key dates at all!
4. They lodge returns without your approval
If you haven’t received anything to sign, and your accountant simply lodges themselves, this is a problem. You should review and have an understanding of everything that is being lodged on your behalf.
5. You don’t know your numbers
Does your Accountant currently explain why something is due, what particularly is due, or what will come next?
Does your Accountant try to explain the impact of certain decisions – particularly forward thinking tax implications?
Do you actually know if you are running at a profit, or a loss?
While tax and accounting is complex, good Business Accountants will be able to translate this for you so you can understand the direct impact on your business and what the numbers mean.
Further to this, does your Accountants speak in jargon that you don’t understand? We make it a point to try and always explain things so that you understand what we’re actually saying.
6. They don’t add value to your business
Does your Accountant actually advise you?
You most likely opened up your business because you are great at what you do. Having to focus on financials and tax can take your time away from the things you are great at (and can take the fun out of it too). Having guidance along the way can be not only reassuring but will save you time and money.
At Optimised Accounting, we are not just plain Accountants. Rather, our clients appreciate that we are their business advisors and strategic partners. We like to work with our clients in an ongoing way – structure them correctly, ensure they are profitable, and saving tax when possible.
7. You don’t trust them
You should trust your Accountant, in the same way you would trust your lawyer, your partner, and your coach.
Clearly, you need to feel like the people in your inner sanctum have your best interests at heart and aren’t doing anything ‘dodgy’. More than this though, you need to relate to them and be confident that your values align with theirs.
8. They don’t focus on customer service
Do you ever feel like your Accountant doesn’t even know your name?
Have you left message after message for a call back and still never heard from them?
We know it’s important to stay in touch. Your business can’t wait weeks on end for an adviser to get back to you. (That’s the reason for our strict get-back-to-client-pronto policy).
9. You’re not on the cloud
It’s 2022 and not only should your business’s financial information and bank feeds be on the cloud, you should be making the most of timely reports on which to make decisions.
At Optimised Accounting, we set up businesses with the Xero accounting software which can make all this happen. In fact, we believe so strongly in informed decision making that we don’t take on new business clients unless they are already on Xero, or are willing to move over to it.
In short, getting onto cloud accounting is important for real time information.
10. They send things in the mail
Gross, It’s slow and things get lost!
Ready to make the move?
Leave your details here and let’s have a discussion about how working with a Business focused Accounting firm can take your business to the next level.
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