It is very tempting when running your own business to save a bit of cash by sorting all of your own finances. It can’t be that hard, you think.
Add up sales here make deductions here, then work out the VAT, do your tax returns fill out the forms, arrange audits, calculate fixed asset, learn a new language, create world peace…
Ok so maybe not quite everything on the list is relevant to your business but think about all the time and energy you are putting in to working out your accounts. Think of all that time you are away from focusing on your clients and making important sales. What if your knowledge of finances is not as great as you thought it was and you end up paying more tax than necessary? There is potentially a huge lost to your business there, far greater than the cost of hiring an accountant.
So you start trying to find an accountant. You think ‘X accountants seem fine, I’ll go with them. After all, accountants all do the same job. Right?’ Well, yes and no. Accountants tend to have a standard list of services they offer but that does not mean that you should not be expecting more for your money.
The key difference between an average accountant and brilliant accountant wants you to make more profits and grow as a business. torr|Waterfield has gone to great measures to help business growth because we know it means you will want to work with us long term. Normal accountants won’t give you marketing tools or regular business health checks, what’s the point? You are already paying them to do a job. Why spend time on extra perks for an existing client when we could be spending time on getting new clients? It’s a tough world for businesses at the moment as we all know so by strengthening the businesses we work with, we ensure that we will have strong long term clients.
So when you are shopping round for an accountant, think about what you are getting for your money; a bog standard service or a company willing to invest its time into you?