Top 5 Tips for Choosing an Accountant

You are used to doing everything by yourself at the office, but your business is growing so you need professionals to help you run your company and achieve further growth. An accountant is the first professional you should consider hiring. Choosing the right professional can be daunting, so you may want to use some practical guidance and advice on how to make the right choice.

Tax Prep Is Dead!

For the past thirty or forty years, the tax preparation business has been one of steady growth, with low barriers to entry, with no educational or licensing requirements. And, in most locations, anyone with a business card and a computer could call themselves a tax preparer.

Because of these minimal requirement, consumers had no quality control over their tax preparation other than to judge it by the size and speed of the refund. This gave rise to fly-by-night tax preparation businesses, refund anticipation loans, and more. Every new franchise was going to be the one that turned out to be bigger than H&R Block.

The Problem of Later Paying Customers

It is a sad fact of business in the UK today that many customers simply don't, or won't, pay on time. They ignore the payment terms that they agreed to when they placed the order. You feel uncomfortable chasing them for the money. So the money sits on your ledger looking older and older each month until its so old and you feel so uncomfortable chasing them, that you either write off the amount or decide to sue them for it.

Simple Accounting - The Way to Go

Traditionally, keeping an account of outgoings and in-comings of one's private or even business undertaking is considered a difficult task; it can be really difficult to maintain a reasonable level of discipline. Many people will rather use their intuition to manage their affairs as only they can. Unfortunately, the majority of such people either fall into debt or end up in some other form of financial mess. I say some because a few people make it unscathed, sheer luck!

Simple Accounting - The Way to Go

Traditionally, keeping an account of outgoings and in-comings of one's private or even business undertaking is considered a difficult task; it can be really difficult to maintain a reasonable level of discipline. Many people will rather use their intuition to manage their affairs as only they can. Unfortunately, the majority of such people either fall into debt or end up in some other form of financial mess. I say some because a few people make it unscathed, sheer luck!