4 Tips for a Happy AccountantKelly
Maintaining good working relationships with those you do business with is very important, and your accountant is no exception. A little extra effort and consideration on your part can keep your accountant happy, allow them to do the best job possible for you and your business to reap the rewards.
Be Consistent with your Bookkeeping
Unfortunately, it is all too common for small business owners to put off doing the books for weeks or even months at a time. Your accountant will love it if you keep consistent track of your income and expenditure. Most accountants encourage their small business clients to use accounting software for their bookkeeping. This will help you streamline all the financial tasks you have to do, and also provide your accountant with records and reports that are as accurate as possible. Get into the routine of taking 15 minutes each day to record your money in and money out into your accounting software.
Instead of handing over a box of loose receipts and trying to remember what they were for, try keeping all your business receipts in a binder or folder with an explanation on the back. These days you can also get smartphone apps that allow you to keep an electronic copy of your receipt. HMRC accepts scanned receipts as proof of deductions. By keeping your receipts and tax invoices in order, you can be sure you are recording the correct figures into your accounting program and therefore giving your accountant the right information. Furthermore, at tax time you will have everything needed to claim your deductions.
Respect Their Time
Think through what you want to ask, discuss and achieve in your meeting with your accountant in advance. Have a list of points you want to cover with them, and even ask them beforehand what information they need from you. These things will ensure you are making the most of the time you have with your accountant.
Be Open and Communicate
Tell your accountant as much as you can about where your business is at financially. Let them know of any changes to your business no matter how small you think they are. Be as honest as possible with them, to reduce the room for error and the threat of legal consequences.
Considering these four tips will get you on your way to building a good working relationship with your accountant.