It’s not news to know that a qualified accountant is needed by a business to deal with its financial issues. Yet, is your accountant good or not? Did you only hire him/her for crunching number purposes?
Like everything in this world, accountants are not created equal. Some are great and some are good, but some don’t deliver at all.
With this said, what qualities of a good Hervey Bay accountant should you be on the lookout for?
Qualities of a Good Accountant
Having and not having a good accountant in your business spells the difference between success and failure. Here are the top-of-the-line qualities commonly shared by good accountants.
They are good team members
Being a good team member is crucial for the growth of any kind and size of business. A good accountant should possess excellent organisational skills along with the business vision of his/her client. Armed with these qualities can make him/her effectively work together with the team for the good of the business.
They are easily accessible to the client
A good accountant should not be too hard to get hold of. This means that he/she is always on call and dedicated to helping untangle financial problems faced by the business. He/she must also be someone to depend on during times when the business needs a professional financial advisor. Open communication lines between an accountant and client should always be the standard practice.
Updated knowledge of legislation and tax requirements
Legislative and tax law requirements are always changing. The latest tax updates can produce an impact on various businesses. A qualified accountant is one who keeps abreast of the latest legislation and tax requirements for him/her to come up with effective tax structures. A business having a knowledgeable accountant helps meet the annual tax compliance needed.
Detail-oriented with high conceptual knowledge
The broad knowledge possessed by a qualified accountant makes him/her capable of putting it into practice. He/she is the right person that has all the financial details of your business. He/she is the person that can recommend and conduct further investigation on any potential discrepancies of the business.
They are good lunch dates
A qualified accountant is one who knows your business from back to front. He/she is your long-time business partner helping you with the daily management of your business and taxes. He/she understands your needs and takes time to sit down with you when you need to express your concerns.
They are knowledgeable in implementing the right business model
Not implementing the right business model usually spells doom for startup businesses. The way to achieve an edge over the competition is tailoring the right business model to the chosen business. The way to know the right business model for your business is through the help of a qualified accountant. He/she is the right person to know the particular business model that will work best for your business.
They are valuable business partners
There’s more to accounting than just crunching numbers. A good accountant can be a valuable business partner. He/she is the right person that can recognise opportunities to help grow your business. Threats are also thwarted with a good business practice set up by a good accountant.
A good accountant is one that keeps a close watch on your business to ensure that it will never face financial management issues. We are here to help you. Get in touch with Hervey Bay chartered accountants – CLM.