What Are The Qualities That Make A Good Accountant?
A whopping 71% of small business owners in the UK use accountants to prepare their taxes. Whether you’re a small business owner or you sit on a board of directors for a large company, the last thing you want to do is worry about the company accounts. After all, bookkeeping and accounting requires a lot of time and a focus, especially around tax deadlines. But, that’s what your accountant is for, correct?
When it comes to company accounts, it’s not enough to simply have an accountant on hand. You have to have a good one. If you pick the wrong accountant for your business, it could dig you into financial holes. The benefits that the right accountant can help your business achieve are endless. So, don’t settle for less.
If you’re searching for a new accountant for your business, it’s important for your choice to have a certain set of qualities that ensures you’re getting the best professionals available.
A good accountant needs to be:
- Highly organised
- Attentive to detail
- Communicates articulately
We know that this seems like a basic list of requirements for anyone you do business with. And we would agree. These characteristics aren’t just related to one person but should be embraced company-wide. So let’s take a deeper look at why these should apply to your accountant specifically.
1) Why does an accountant need to be highly organised?
Whether you work with a third-party accountant or have an accountant in your team, it is key that they are highly organised. An accountant either juggles multiple clients (if they’re a third party), manages multiple deadlines and follows multiple proper reporting guidelines. In order to juggle all of these successfully, they need to keep their operations organised.
Automating the account reconciliation process improves organisation through easy access to data and workflow benefits. Many accountants implement a task management solution so they can manage what deadlines and clients their team will be working with.
2) Why an accountant should be detail-oriented
Attention to detail is very important in accounting. It is a skill that involves the ability to review and identify inconsistencies and even patterns in large amounts of data or information. When picking your next accountant, it is key that they know how to find what you need from a multitude of similar-looking budget documents and follow detailed instructions or regulations on a regular basis.
Strong attention to detail indicates that you emphasize accuracy and consistency in financial practices and best practices. The financial world is a complicated one with lots of rules and regulations. If a deadline or framework is overlooked, it can be the difference between balanced accounts or one huge headache figuring out what went wrong (even potentially a fine).
3) Should your accountant regularly communicate with you?
Communication is the core activity of the accounting profession. Having an accountant that is able to clearly transfer information from one person to another or from one organisation to another is crucial to keeping on top of deadlines.
A good accountant will always return your calls or emails within a reasonable amount of time. We understand that business owners have a lot on their plates and don’t always have time to contact their accountants. This is why a good accountant should proactively check in periodically to see how your business is running and if you have any questions.
4) Why does an accountant need to be adaptable?
The accounting world is ever-evolving. New regulations, deadlines and guidelines are introduced every year. To ensure that you have a good accountant, you need to make sure that they are adaptable.
This is one of the reasons why many business owners choose to use an accountant as they are more available to keep up with evolving trends. Individuals might feel stressed when faced with unexpected difficulties, but having an accountant with the ability to adapt and determine alternative options takes that stress away.
At Stonehouse, we operate with over 30 years of experience in accounting for clients, big or small. We are committed to providing our clients with confidential and comprehensive accountancy and business services. These services include annual accounts, making tax digital (MTD) bookkeeping, VAT, PAYE, payroll, tax planning and business advisory services at a reasonable cost. Whether your business is established or just about to start growing, we work with you, going beyond the statutory accounting requirements. If you would like more information on how we can assist with your company accounts, then don’t hesitate to contact us today.