How to Choose an Accountant in Victoria Park for your Business
One of the most common dilemmas businesses face is how to choose the right accountant.
After all, you want to have someone you can trust, one who is up to date with the latest policies and regulations and one that will ensure you can focus on your business while they focus on your finances.
It is also possible that you may not be sure if your business needs an accountant or not and, in that case, it is always worth finding out how an accountant can help you and add value to your business
Today we are looking at three things to consider when searching for an accountant for your business in Perth, Western Australia.
1. Cloud Software
Majority of businesses these days are using one or two cloud products for internal reporting. If you are using the same software as your accountant, that will be saving you a lot of time and as a result, it will be saving your company a lot of money. So when searching for an accountant, ask them what platforms they are using and discuss how that would work with the products and processes your business is currently operating on.
2. Do they know your Industry
It is crucial that your accountant understands the technology stack in your industry. In other words, does the accountant know what apps work best in your business. No matter what business you are – plumbing, café, construction business or manufacturer, you want to find an accountant that understands that software in the specific industry. If the answer is yes, you will potentially be saving large amounts of money. It can save admin time, processing time and can add a lot of value to your business. It is important to mention that business with system are also worth more when they are either selling their business or growing.
3. Reporting
Gone are the days of using excel spreadsheets or manually putting together a document to work out your cashflow forecast or profitability. There are many solutions out there that will assist you and the business with three-way forecasts. In other words, you can easily calculate the impact of increasing your prices or the impact of wage increase in your business, and basically track and calculate any financial changes you may be making and the impact it would have. This will help you stay ahead of the game, ensuring all the numbers are in place and you will not be surprised by sudden financial changes.
Last but not least, when choosing an accountant in Perth, you want to make sure that you get along with them. You want to choose someone you feel comfortable sharing financial information with so make sure you choose someone you get along with on a personal level.
For more information about accounting and finances for your business contact us at Eventum Consulting, we are always happy to chat and would be honoured to guide and work with you.