As a business owner, you entrust your accountant with the financial health of your company.
But how can you be certain they’re providing the services your business truly needs?
Evaluating your accountant’s performance can be challenging, especially if you’re unsure what best practice looks like.
If you’re seeing some or more of these signs then you definitely should be questioning the effectiveness of your current accountant.
In which case, it might be time to change.
At Blue Dot Consulting Limited, we want you to be able to recognise your business in your numbers.
We’re partners with leading software providers such as FreeAgent, Xero and QuickBooks and our focus is on:
Get the basics right and we lay the foundation for sound financial management, making tasks like VAT returns, PAYE payments, and annual accounts & tax returns more straightforward.
💡 Pro tip: It’s rarely a good idea to change payroll provider or payroll software in any month other than April, the start of the payroll year. So, change accountants whenever it suits but maybe keep the payroll where it is until next April.
High-volume, low-value transactions business
These guys had gone through two firms of accountants and neither could deal with a part of the business that yields a high-volume of low-value repetitive transactions.
With a bit of tech and a bit of fresh thinking we got the transactions flowing through the books easily and efficiently every day.
Everything else – management reports, VAT, year-end – now gets done in good time because the high-volume beast has been tamed.
I use the family accountants but they don’t really deal with businesses like mine
One thing is non-negotiable – your accountant MUST understand your business!
We stepped in here and changed the way the bookkeeping is done so that reports now reflect real business activity and the owner can see recognisable business performance in the numbers.
My accountant only gets in touch once a year
Businesses are continuous and therefore accounting should be continuous, not once a year well after the financial year has ended.
We did some QuickBooks training with this business owner who is happy to do the bookkeeping and she now has less work to do and VAT is a walk in the park.
“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
It’s a big step and not one to be taken lightly.
As members of the ICAEW Business Advice Service (BAS) we offer a free, confidential initial consultation to discuss your business needs.
So, if you’re thinking about changing accountants let’s talk about your business, we’d be happy to hear from you.
☎️ 020 7125 0270
📧 info@bluedotconsulting.co.uk
Michael Austin
What’s actually involved in changing accountants?
Firstly, make a list of what you’re looking for in a new accountant.
Then, look online, ask around and go and meet some potential alternatives. Only progress with people that really understand your business.
Agree a basis for fees.
Once you’ve made a decision then break the news to your current accountant. None of us likes to find out from the new accountant!
There will be a transfer of information such as:
Don’t worry about this – accountants all know what’s required and how it’s done.
Get to work!
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
At Blue Dot Consulting, we work with owner-managed businesses across Central, West and South West London, including Fulham, Hammersmith, Richmond, Putney, Wandsworth, Kensington and Chelsea. If you’d like to improve your financial reporting, bookkeeping or decision-making, we’d be delighted to help.
© Blue Dot Consulting Limited, Chartered Accountants, Bedford House, Fulham Green, London, SW6 3JW
We don’t believe in forms, we believe in talking to people, finding out your needs and tailor-making a solution just for you.
Give us a ring on 020 7125 0270 or email us at info@bluedotconsulting.co.uk
“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.”
“Blue Dot have been our accountants and bookkeepers since the very beginning of our business, and have been nothing short of outstanding throughout.”
“Blue Dot Consulting went above and beyond in helping us navigate not only the transition to cloud-based accounting but also in leading our accounts team through a broader period of transformation.
Their deep understanding of our unique needs and challenges was evident from the outset. They provided unwavering support to our team, ensuring they felt confident and well-prepared for the changes ahead.”
“Thank you again for your help and training so far – it’s honestly been invaluable.”
“I’m no expert but it has been transformative the help and advice I get from Michael and his team.
Michael was fantastic. He quizzed me on how my business worked financially and was super patient with me. Explaining everything in a non-accountancy manner. He then showed me how to utilise all the less obvious tools in the program, which he continues to do, so that I can see immediately what monies held belonged to my company and what is held for clients. I now do my own VAT returns and payroll because of his help and continued support.”
“I really enjoy working with Blue Dot Consulting — they’ve helped me take control of our financial situation in a practical, no-nonsense way.
They take a common-sense approach and, most importantly, they get things done. For example, we now have weekly planning and forecasting calls, along with monthly cash flow reviews using simple, easy-to-understand spreadsheets.
Their support has made a huge difference in how we manage and plan for the future.”
“As the business owner, it can get lonely making all the decisions. I feel I have a ‘silent FD’ that I can call, challenge and that any idea is OK to discuss, and to arrive at a sensible way forward.”
“Having someone in the room that is happy to (in a structured way) challenge the norm and not simply accept that, because things look good, we should stop looking to improve.”
“Blue Dot are uncompromisingly systematic and thorough so that you can get on with running your business.”
“Outstanding service and support. They get things done, just what you need. Recommended.”
“It was the genuine level of care and interest in what we do as a business.
The regular check-ins and the effort to ensure the systems they’ve implemented are working for everyone stood out.
It felt like more than just a service, it was a partnership.”
“I’ve been delighted with both the service and expert advice I’ve received from Michael and his team. They take the weight off my shoulders when it comes to my business’s financial requirements, allowing me to focus on building and managing the company.”
“We are a small organisation with no in-house financial expertise, so it’s a huge weight off my mind knowing that I can rely on Michael and his team to take care of everything.”
“I can wholeheartedly and highly recommend Michael and his team at Blue Dot as an exceptional accounting firm. They put my mind at rest knowing I am in excellent hands.”
“Michael and the team are my saviours. Always helpful, approachable and reliable. They show an interest in my business and give excellent advice and recommendations. Above all, they are highly likeable and fun to work with.”
“They went above and beyond in helping us navigate not only the transition to cloud-based accounting but also in leading our accounts team through a broader period of transformation.”
“You guys are brilliant. It’s been a challenging few weeks facing up to the issues but I do feel positive towards them now and I feel a weight has lifted from my shoulders. I am honestly so thankful!”
“I was a little apprehensive about working with a new accountant but I didn’t need to worry – I have found their approach to be friendly, genuine and they go above & beyond to help.”
“Michael’s straightforward, practical and tailor-made approach was perfect for me and our business.”
“Blue Dot have been our accountants and bookkeepers since the very beginning of our business, and have been nothing short of outstanding throughout.”
