Even with the ever increasing use of do-it-yourself accounting software, the benefits of engaging an accountant cannot be over emphasised. You can find accountants who specialise in different aspects of your business, from accountants who help with taxation to business growth specialists. If you are looking for a Wellington accountant here are some things to keep in mind.
Proper management of the financial aspect of your business is important in determining the financial position of the business. If you know where your business stands on a monthly basis, you can adapt your business spending to improve its performance and record sustainable growth at the year end.
The benefits of hiring an accountant go beyond just understanding the language of business. If you have a business in Wellington consider hiring Xero accountants in Wellington who can go above and beyond the contractual obligation and give you financial advice to help your business expand. They help you make a business plan that is not only professional, but also realistic and highly likely to succeed. When it’s time push your business growth, they can give you financial advice like whether to take out a business loan and the best available loan to go for.
When you have a professional tax accountant you can be sure that you are up to date when the tax man comes knocking. Your accountant will have helped you to put your house in order with tax compliance advice. He can also provide you with tax planning advice to help you reduce your tax burden.
When finding an accountant, look for those who are knowledgeable in your business niche and who are able to assess your tax situation as well as the financial statements of your business. Your accountant should be able to give you sound and relevant advice at every stage of your business. For a small business, you should look for an accountant knowledgeable in all the basic areas of accounting practices such as bookkeeping, record keeping, tax advice and auditing. Tips on finding a good accountant:
The best way of finding an accountant is through referrals. You can get referrals from your business partners, your bank and lawyer or from friends and family. Alternatively you can check with the Chartered Accountant organisation in New Zealand for local registered accountants.
Once you have a list of qualified accountants, shortlist the best candidates and invite them for an interview. In this era of technology you can conduct the interview online. Ask the right questions like their experience, services offered, and the fee to be charged. Don’t forget to call any references given that are related to your industry and find out their level of satisfaction with the services they were offered by the accountant.
• Sign engagement letter
After you find the right accountant for you, go through the engagement letter and ensure all the terms of agreement, the statements and returns to be prepared and the fees charged are all spelt out. Hold up the end of your agreement and maintain a good working relationship with your client.
Stephenson Thorner meets all the above criteria and has sufficient staff who can run the financial aspect of your business. With cloud technology and accounting software you can now monitor the financial position of your business with just one click. Consider Stephenson Thorner to be your cloud accountants in Wellington and get financial advice at every stage of your business. Visit their website, www.stephensonthorner.co.nz, to find out more.