Small business owners need an accountant they can establish a partnership with. Many assess the options but don't necessarily draw up a list of must-haves.
Fortunately, recent research into the Australasian market has done the hard work. Ipsos and the Common Ledger suggested that the biggest yardstick for any accountant is the quality of advice they give. However, small businesses in particular will often choose a big-name practice, and not receive the kind of one-on-one, personalised service that's required.
Time equals money
As insights from Inc pointed out, a mixture of time pressures and a lack of resources lead to struggles with small business bookkeeping and accounting. Typically, even those that look after their finances internally can benefit from seeking external help and advice.
"A business owner may expand the scope of work to include recording of transactions, but usually this is the responsibility of the 'inside' accountant – it isn't profitable for a firm to perform this duty," explained Jim Chamberlain, a financial expert with SCORE, a nonprofit organisation that helps small businesses, as quoted by Inc.
Going beyond the simple questions
Touching on the Ipsos and Common Ledger research a little further, another trait that small businesses across Australia look for in accountants is the ability to go above and beyond a simple set of duties.
In fact, the joint research explained that the best accountancy firms will be able to build effective working relationships with their clients, and offer guidance that is more inline with strategic planning.
What does your small business look for in an accountant?
Thanks to an array of experience across myriad sectors, at WMC Accounting we're more than certain we'll be able to exceed your expectations. We believe that creating a relationship that is not only a vehicle for insights, but also enables your business to meet its wider goals is the key to a successful partnership.