How Do I Find A Trustworthy Accountant?

Many businesses (and even individuals) have an accountant to handle all of their financial matters. They can help you make the most of your money and increase your profitability. However, to get the most from an accountant, you need to ensure you have someone you can trust.

But how do you know the accountant you’re hiring is trustworthy and has all the relevant qualifications? Luckily, there are a ton of qualities and accreditations you can look out for, as well as some well-needed questions to ask. 

Keep reading to find out how you can find the best and most reliable accountant for you.  

Do I need an accountant for my business?

While large corporations typically have accountants on their payroll, you may be unsure as to whether you need an accountant for a small business. Most of the time, the answer is yes. Unless you have financial expertise, you’ll need an accountant with expertise on taxes, auditing, budgeting, etc to help your business grow. 

Without an accountant, you may struggle to find the time to handle your finances. At the same time, you may end up submitting your taxes late and inaccurate, which can result in hefty fees. Therefore, if you don’t have a dedicated accountant for your business or are unsure how to handle your finances, then yes, you do need an accountant. 

What can an accountant do for my business?

Accountants offer a wide range of services that can benefit your business. You may not need all of them, but here are some things they can help you with:

• Help complete tax forms and ensure they are submitted on time
• Provide a financial plan that will help you reach your goals
• Update payroll and ensure all employees are paid on time
• Offer insights on how you can maximise annual income
• Audit financial statements to check everything is in order
• Offer advice on the best corporate structure for your business
• Budget and review expenses to increase profit

Qualities to look for in an accountant

One of the first steps to take when finding a trustworthy accountant is to look at a number of qualities that will help them stand out. 

Good reviews and reputation

There is no better way to find out if an accountant is trustworthy than finding out what other clients think of them. You can always ask your friends, family, or other businesses in the area about what accountants they use and see what they say about them. People will rarely say that an accountant is good when they aren’t, so it is a reliable method to use.

Similarly, if you don’t know anyone with an accountant, you can look at review sites and see what people are saying about any potential prospects. People are brutally honest on the internet, so if they are positive about the accountant you’re looking at, then there is a chance they are reliable. 

Areas of expertise

Some accountants specialise in a certain field and often have to study for a bit longer to get into it. For example, if you’re a freelancer, you can look for an accountant that has expertise working with freelancers. They will know the specific tax requirements and how you can make the most out of your earnings. The same applies to every other industry. 

Compatibility

Sometimes it isn’t always about skills and services, but if you get on with the person. You don’t want an accountant with whom you can’t communicate efficiently or who makes you uncomfortable. Instead, you want someone who makes you feel comfortable about your finances.

Every accountant works in a different way, whether it is their processes or the way they think. Sometimes you don’t know if you’re compatible with someone until you hire them, but some accountants give free trials before you sign up permanently. You can also look at reviews to get a feel for them first. 

Where to look for a trustworthy accountant

So, you know what qualities to look for in an accountant, but how do you find them in the first place? There are two common ways you can find the right one for you:

Referrals

As we’ve already mentioned, you can find a trustworthy accountant by asking family, friends, and other business owners. They will be able to tell you about their experiences with them, and you can decide whether they sound like a good fit. Possibly ask people in the same industry as you so you know they have the right expertise. 

Directories

There are several directories across the UK where you can find a trustworthy accountant. You can use these directories to filter out your area, industry, and services. They will often have to be vetted before they can end up on the directory, so the chances that they are reliable with credentials are high. 

Questions to ask before you hire an accountant

Have you found an accountant but don’t know what questions to ask them before officially signing up for their services? Here are some common questions that will get you the answers you’re looking for: 

• What qualifications do you have? 
• What fees do you charge?
• What services are included in your fees?
• What are your areas of specialisation?
• Why should I choose you?
• What size clients do you work with?
• Are there any specific considerations for my type of business?