Gilbert Finance – Advice on what is a Good Accountant
August 31, 2018
Gilbert Finance – Advice...
Every new business needs a good accountant, a good solicitor and a good
One of the challenges in accounting is the definition what an
in the same way people use the word “Banker” to describe someone who is at
the till of the local bank to the head of Goldman Sachs.
with accountants the word accountant is used to describe someone from a bookkeeper to indeed
the FD of Google.
A good accountant has certain qualities and things about them that can
help your business grow
such as, the need to understand the structures available, limited
liability partnerships sold trader limited companies and which was correct for
your business and explain that to you because each has its benefits and
downsides. The more protection you have generally the administration costs go up.
They need to give you good, solid tax advice, not just the fancy schemes
but how to grind out tax savings day after day so you pay the minimum tax and keep
the maximum of the cash and profits in the business.
They need to be able to help you raise finance
and know how to present this to various fundraisers, banks, private equity
grants etc, they need know how to put the information to them
and also have contacts in those areas so they can introduce you to sources of it
and indeed have a track record of success in this area.
Another thing that I find really important is proper commercial
experience from the advisor.
Its good if they’ve worked somewhere other than an accounting practice, preferably in
business say as a FD or a chief accountant in the business so they’re
really understand what business is about and how to do it, that also kind of
helps with personality wise because they tend to be a little bit more
social skills are better and they can certainly get on with the people in your business well.
Another couple of things I think are really important is that they are reliable
you know that they get back to you in a few days of most of the phone calls,
preferably on the day
and that they contact the business
every few months to make sure that they know what’s going on, because the only way you
can offer proper advice is to be involved in the business, so just a call “how’s it going?”
“do you need anything?”, “what’s happening in the business?”, so they can be proactive in
as a client on what you need and how they can help with the business.
If your current advisor doesn’t do that I would suggest you have a
look at changing them, other advisors would be to be happy to talk to for
and it;s a lot easier to change than people think and you could save yourself money
and grow your business a lot better with better advise.
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