3 Essentials Every Startup Should Look For In An Accountant

Starting your own business can be quite the daunting endeavour in 2014. Many aspects of starting a new business have changed unrecognisably over the last twenty years, including funding, marketing and online security. It is essential to choose an accountant that is tailored to your specific and unique needs and up to date with their ever changing environment.

Social media and austerity have altered the focus of many new small business owners. They are now directing much more time, energy and money in such things as online marketing and alternative methods of fundraising such as crowdfunding.

However, one absolutely pivotal aspect of the burgeoning small business is largely ignored in light of these modern concerns. The accountant. Just as a new small business needs to be modern in terms of funding, marketing and security, it also needs to be modern in terms of balancing the books.

A traditional accountant is no longer adequate (or necessary!) Today, to meet the needs of a burgeoning new business, an accountant needs to provide more than just bookkeeping services. They also need to be reasonably priced, technologically progressive, and provide ease of use.

Below we explore the three main features a startup should look for when choosing a suitable accountant:

Your Affordable Accountant Is Available Online

To solve the issue of affordability, some new small business owners use bookkeeping apps such as Handdy. While these apps are free, there is no substitute for a qualified professional’s expertise. Especially if the business has raised a round of funding and/or have employees on the payroll.

Spending some money at the outset on an experienced accountant could save you money in the long run.

However, don’t despair! There are many affordable accountants available online. Look for one that provides a fully customisable package so that your business can tailor the deal to your individual needs whether they be payroll service for staff, forecasts and budgets, and/or VAT returns.

Your Accountant Must Use Modern and Progressive Methods

It goes without saying that the accountant you choose absolutely must be up to date with technological advancements in their field, and also be enthusiastic to keep progressing and developing their methods.

As CEO of London accounting firm 3 Wise Bears Gurpreet Sandhu says, “Choose an accountant who makes use of 21st century techniques to keep your business’ finances in order.”

It is essential that your chosen accountant has expertise in using online accounting software, in particular the two leading software packages, FreeAgent and Xero.

“Not only this, the firm you choose should offer advice on how you, as the small business owner, can utilise this progressive software yourself, demystifying the process for you,” adds Gurpreet.

Your Accountant Must Provide Convenient and Prompt Support

In today’s world, with life and business moving at an incredible rate, it is essential that when you need something you have access to it immediately.

The accounting firm should provide you with a dedicated accountant, who will know your business inside out and be available as and when you need her.

They should provide phone, email and video conferencing support. This will enable your business to get quick, effective and essential support, regardless of the nature and/or urgency of your query.

While online tools are increasingly powerful and have streamlined accounting for small businesses, the experience and expertise that is available from an accounting firm is truly invaluable.