To find out how we can help support you to grow your business, contact the team at Allsquare Accountants Edinburgh today
If you’re thinking of asking an accountancy firm to look after your business accounts, look for a provider that can fulfil these criteria:
1. They Understand What You’re Doing
Businesses are far more diverse than they were, and new kinds of business are springing up all the time because the new technology is disrupting older business models. A good accountancy firm will go to some lengths to understand your business and its strengths and challenges and where you want to take it. They’ll take their cue from you – you may want to grow the business as fast as possible, or you may want to keep it the same size but make it more profitable, or you may want both. It all comes down to listening to you and not having any preconceptions about what you do.
This applies as much to the charitable, voluntary organisation and third sector, which needs a principled and transparent approach to its accounting processes.
2. They Help You Understand What They’re Doing
In some large accountancy firms, you will never deal with the same person twice and communication will be remote and formal. Smaller firms, while having substantial experience available, will be able to deal with you and your business on a more personal level. Simplicity should be a key factor, with systems that you can understand and access so that jobs such as payroll are simple to run.
3. They “Get” That It’s Stressful Sometimes
For sole traders or one-person businesses, the need to file accounts inevitably comes at the busiest trading period. A company that can help with everything from book-keeping to end-of-year accounts can take a lot of the stress out of running a business, leaving you free to grow profits by doing what you do well. It will also help improve your work-life balance, giving you some free time to enjoy your family and friends and keep yourself fit.
4. When the Chancellor Moves the Goalposts, They’ll Tell You in Time
We’ve had a change of Chancellor, but the one thing that won’t change is that every Budget brings alterations to taxation, allowances, business reliefs and all the rest. Even if you listen to the Budget, or read the summary in the newspaper, it’s difficult if you’re not an expert in the field to see the full implications. There may be a hidden consequence from some small change that will have a big effect on your business.
When you use an accountancy firm with a personal relationship with its clients, they know who will be affected and can see the entire picture. So they can give advice that is up to date, well informed and timely so that you can reorganise your business, either to take advantage of new reliefs or to meet new challenges.
5. They Can Be a Business Asset
A good firm of accountants that understands your sector is like a good friend in business, so if you need bookkeeping, accountancy or strategic business advice, come to Allsquare, where you’ll find people who will listen to you. Call 0131 343 1510 or email firstname.lastname@example.org.