Diary Dates

EDBI BREAKFAST
EVERY FRIDAY
7.30am - 9.00am

Woodbury Park
Hotel & Golf Club

Contact:
Helen - 01392 479330
Peter - 01395 270150

Choosing Accountants - Top 10 Tips

Of all the advisers you are likely to need when running a small business, a good accountant is perhaps the most valuable one to have. Here are the Top 10 Tips for choosing accountants.

By Colin Gillard, Northams Chartered Accountants

  1. Choose a firm of Chartered Accountants - not all accountants are qualified. Firms of Chartered Accountants are subject to regular independent quality assurance reviews by The Institute of Chartered Accountants. You may come across people offering "accounting services" who are not qualified. Unqualified accountants are unlikely to carry liability insurance and any apparent fee savings may turn out to be costly in the long run.

    Northams are both Chartered Accountants and Chartered Tax Advisors. On the rare occasions we need specialist advice, we also have access to qualified specialists on a wide variety of tax, vat, finance and other matters.
  2. Ask how the accountants charge. Some firms charge by the hour, many by 5 minute units. Some firms charge fixed fees. Remember, cheapest is rarely best but also don't automatically assume that a big expensive firm will offer best value for money.

    Northams offer a 'no surprises' Fixed Fee Scheme for all recurring work. This includes ad-hoc telephone calls so clients can call us anytime knowing they will not incur extra costs.
  3. Consider the complexity of your needs. Try to foresee any future requirements you might have and consider whether your accountant is equipped to deal with these.

    Colin Gillard, founder and owner of Northams has over 25 years experience in advising small/medium size owner managed businesses. Northams can provide all the financial and other support services their clients need.
  4. Big is not always better - smaller accountancy firms are often better suited to small and medium size businesses offering a more personal service. In a larger firm of accountants you can end up being a very small fish in a large pond and receive lower quality service as a result.

    Northams on a regular basis receive instructions from new clients who have decided that a smaller firm like Northams can offer a better quality service. Northams offer a free no obligation meeting so that business owners can find out what we can do for them.
  5. Make sure your accountant keeps in touch with your business - not just at year end!

    Northams send all clients a monthly e-mail newsletter with an automatic return e-mail enquiry link at no extra cost. We also meet some clients every quarter/month. If this is agreed at the outset, these regular management meetings are included in the fixed fee arrangement.
  6. When you first meet a prospective accountant, you will know soon enough if you see eye-to-eye. It is important to develop a good relationship and know that your finances are being handled by someone you trust.

    The accountant/client relationship is so important that Colin Gillard owner of Northams tells all prospective clients of the firm that 'We must get on as people, otherwise the appointment will not work for either of us'. The fact is, Colin gets on with most people and Northams continues to grow its client base 20 years after the firm was founded.
  7. Consider how the accountant can add value besides year end accounts and tax returns. Can they provide services above and beyond your basic year end needs?

    Northams offer a wide range of services too numerous to mention here. Check out what we can offer at www.northams.com
  8. Ask to speak with some of their other clients for a first-hand account of working with the firm.

    After your free no obligation initial meeting, if you wish to speak to an existing client, Northams will give you the telephone numbers of at least two current clients you can speak to before making that all important decision to use us.
  9. Find an accountant that speaks your language. You can have the best accountant around but if he cannot communicate in a way you understand, you will quickly feel frustrated and feel that you are not getting value for money.

    Northams have banned the use of jargon. Colin Gillard was once told by a new client that he had got more out of the first 2 hour meeting with Colin than he had in the previous 2 years of meetings with his old accountant. He thought his old accountant was good at his job, but he could never understand what he was talking about. Northams consider it essential that clients know and understand what we are doing.
  10. Don't rush the actual decision! An accountant is an essential advisor for any business, so investing time in choosing the right person for you is imperative in order to gain maximum value.

    At Northams, we sometimes find prospective clients wish to appoint us at the first meeting. Whilst we welcome this positive approach, we always give people at least a couple of days to sleep on it. The relationship is so important it's not so different to making the decision to get married - so take the time to get it right.

Northams Chartered Accountants is owned and run by Colin Gillard FCA CTA. The firm is based in Honiton, East Devon and welcomes enquiries from small/medium size businesses who either do not have an accountant or who are not 100% satisfied with their current advisor. Clients do not have to travel to Honiton and all initial meetings with prospective clients are held at their premises unless we are asked to meet at our offices.

Check out what we can offer at www.northams.com

To find out how we can help you increase your profits and increase the value of your business ring Colin Gillard today on 07977 272333 and arrange that all important initial free no obligation meeting.

Top Ten Tips - Business Help & Advice


Bookmark and Share


Website by WBD