Here’s how to find the best Newcastle business accountant for you.
Finding the right accountant for your business shouldn’t be as hard as finding swimwear in winter, but it is something you want to get right (much like your swimwear, I guess).
Here’s what you need to look for.
Make sure they’re qualified.
The term “accountant” or “bookkeeper” is not protected. That means anyone can use these titles without any repercussions, and there are a lot of people out there offering financial advice. While you can take advice from whoever you like, when it comes to money advice, we recommend checking that you’re getting what you’re paying for. Does the person have the qualification and education to be dishing out the information they’re serving?
You can check if your accountant or bookkeeper is registered HERE. ( *note, if you’re paying for someone outside your business to do your business activity statements or BAS, they legally need to be registered to do so with the Tax Practitioners Board.
You need to like them.
The same as any other relationship, you want to like the person who you’re talking to. Talking to someone about your financial details, walking through the ins and outs of your business accounting, the accountant you’re dealing with needs to be someone you feel you can be completely honest and transparent with. You’re not going to do that if you think your accountant isn’t interested in you, or your business.
Look for someone who will want to talk to you.
If your accountant isn’t super chatty, that’s ok, accountants are stereo typically not the most outgoing people. HOWEVER, if they’re allergic to picking up the phone, they don’t ask you follow up questions to understand what you’re talking about, or to dig deeper, and if they don’t get your jokes - maybe they’re not the best fit for you (ok, maybe the jokes thing isn’t imperative, but we like it when people get OUR jokes).
Your accountant should live in Newcastle.
Ok, in this day and age, the exact location may not be AS important as it used to be, but a local business accountant is more likely to understand local business needs. A Newcastle business accounting specialist will understand the nuances of this coastal paradise we call home, and they’ll likely have other professional relationships that could be helpful to your company as well.
If you want to work with a Newcastle business accountant, find an accountant from Newcastle * cough cough * us.
Work with someone who understands your business.
Repeatedly explaining what your business does and how it operates isn’t anyones idea of a good time. If you go into depth and bare your soul to someone about how your business operates, and what your goals and dreams are, you want to know the other person understands you, and is listening. If you say you want a self managed super fund, and your accountant launches into a tirade about crypto, for example, they may not be the person for you.
Make sure the financial advisor you’re working with offers the services you need.
Want to wrap your accounting up nicely with your bookkeeping and have someone do it altogether? You certainly can, but you’ll need to make sure you’re talking to someone who is happy to do both (wink wink we do both).
If you’re the owner of a company, you should be working with an accountant who will plan proactively for your tax obligations. Ask the accountant you’re talking to if they offer company tax planning.
If you’re looking at starting or need someone to manage an existing Self Managed Super Fund - you’ll need to check this is something your new accountant is across (& WE certainly are).
A note on pricing.
Often the price point will be a priority while you are looking for you someone to manage your business accounting, however, a low price point may not be the best thing to look for.
When you’re after a competitive price point (and really, who isn’t), you need to consider the following -
If you’re not paying much, and the cost is lower than it is elsewhere, will this accountant still prioritise the work?
Will you still have access to speak to a qualified and experienced accountant when you need them?
Will your work be seen by the accountant you initially spoke to, or will you be palmed off to a trainee?
Will you have access to your accountant when you need them, or will you be forever waiting for a phone call to be returned while your advisor is working for a higher paying client?
The price should be right, and you should be getting good value, absolutely, but the lowest price will likely not get you the best result. You could wind up receiving an average service with your needs not quite being met.
