An accountant can be one of the most valuable additions to your business. Many business owners treat their accountant like a once-a-year tax service, however treating them like a strategic partner will provide you with the help needed to ensure you’re working as successfully as possible.
At OR, we help our clients build the future they want for their business, instead of just reporting on the financial results. Ways to get the most out of this relationship include:
Bring an accountant in early
An accountant can help business owners save money before decisions are made, not after. Liasing with your accountant when you’re considering a big purchase or a change in business structure will help to optimise your working relationship with them, allowing a proactive approach.
Keep on top of your records throughout the year
The less time your accountant spends reconstructing your finances, the more time they can spend on strategy. Keeping track of receipts and categorising expenses as you go will allow your accountant to dedicate more time to providing strategic support.
Keep them in the loop with your long-term goals
Whether you’re planning to sell the business in five years, invest in property, or bring on a business partner, informing your accountant of your goals early on will help them to structure things in ways to help you achieve these goals in the efficient way.
Check in with them more regularly than once a year
Regular communication keeps your accountant up to date and gives you a chance to flag upcoming changes and decisions. Small, regular conversations may be more useful than one meeting a year.
Treat them as a trusted adviser, not just a compliance tick-box
At OR, we recognise the different needs and challenges you face at every stage of your business journey. Receiving the best advice from someone who knows your business is a vital step in the right direction and can be critical to your success.
If you’d like to discuss how we can help your business reach its full potential, drop us an email on hello@ormerodrutter.co.uk or give us a call on 01905 777600.
