Changing accountants – it’s not something you do all the time but you’ll know when the time is right.
Business owners and directors place a great deal of trust into the hands of their bookkeeper and accountant. But how do you know if they are doing a good job, let alone doing the right job, doing the work your business actually needs?
A big challenge if you’re running a business is how to review your accountant’s work effectively.
- What are the appropriate checks and balances?
- What timescales should you expect?
- What information?
- What technology?
What does best practice look like if you’ve never seen it?
Let’s get your business accounting working
When we start to work with a new client, the areas we usually need to concentrate on include:
- make sure the bookkeeping is correct!
- redesign workflows and processes to be more efficient and, hopefully, paper-free
- understand the drivers for profitability
- customise financial reports and ensure they go to whoever needs them
- make sure cashflow is sound and take action if needs be
- look hard at credit control
- question whether the right technology is being used (spoiler alert: there’s a lot of hype about some of the shiny, new tech out there)
We want to make sure that day-to-day bookkeeping is thorough as this is the foundation for good financial management.
Then, things like VAT returns, paying PAYE, saving for annual tax payments are all visible, easily managed and won’t get in the way.
And once the day-to day work is running like a well-oiled machine, the year-end tasks – accounts and tax returns – are much more straight-forward.
Michael and the Blue Dot team have been an essential part of our journey from startup through to being an established company, and we look forward to continuing working together long into the future. They have always been on hand to offer support and sound advice whenever it is needed.
MD
Institute of Chartered Accountants Business Advice Service
The ICAEW Business Advice Service (BAS) connects owners of small and medium-sized businesses with ICAEW regulated firms who will provide a free initial consultation, without obligation.
We’re a member firm of the BAS service which means we offer that free, confidential first meeting.
So, if you’re thinking about changing accountants, give Michael Austin a call on 020 7125 0270 or email info@bluedotconsulting.co.uk and let’s talk about your business.
Michael – @bluedotmichael
Related links:
Bookkeeping, accounts and tax for a one-person company
We’re a small business, I do all the bookkeeping – I just need someone to keep us on the right track
Overhaul and rebuild your finance function
Chartered Accountants – Bedford House, Fulham Green, London, SW6 3JW
