Tips For Working With An Accountant

Working with an accountant is a smart way to set your small business up for success. Your accountant can help you find tax savings, find your business’ break even point, and help you make the most of your income so you can prepare for the future. If you have never worked with an accountant before, or want to make sure you’re working with them in the most productive ways, try these tips.

Keep Lines Of Communication Open

It might not be enough to see your accountant a few times per year. You can keep in touch with them over messengers, texts, emails or phone. Ask your accountant what is most convenient or standard for them. It should be easy for you to ask questions as you think of them, instead of hoping you remember to bring them up at your next meeting.

Use Accounting Software Effectively

If you’re doing your own bookkeeping, you can use a cloud-based accounting software like Wave or Quickbooks. Cloud-based accounting software typically has an app that you can use on your phone to upload photos of receipts, and it can be connected to your credit cards and bank accounts to automatically collect data and categorize transactions.

Share Your Goals

Whether you want to lesson your business’ tax burden or reach long-term financial goals, your accountant can help – but not if they’re not aware of your needs.

Ask Dumb Questions

Your accountant does not expect you to perfectly understand your bank statements or the tax deductions you might be entitled to. They don’t mind if you ask “dumb” questions, because, of course, there’s no such thing as a stupid question. Your accountant can help you look past the numbers and get a better understanding of your expenses and savings. If you’re not reaching your savings goals, you don’t need to try to match the verbiage your accountant uses. You can simply ask, “where is my money going?” and they’ll know what you mean, and be able to explain to you in a way that is relevant to you.

Don’t Wait Until April

Accountants are slammed during tax season, so if you’re just beginning to work with them in the Spring, you may find it more difficult to find them available. The sooner in advance you start working with an accountant, the more they will know your business and be able to help you more easily when you’re filing your taxes.