January is the natural time to review and refresh your business practices, and this may well include considering a new accountant or business adviser. However, with so many to choose between, Bridgend based accountants Graham Paul, know this can seem like an arduous task.

John Squire at the firm comments: “Finding the right accountant for you and your company is essential and while many people are not happy with their current adviser, changing seems like a chore they can do without. However if you stick to a few key guidelines the process can be quick and simple and you’ll soon reap the benefits of a more compatible relationship.”

Firstly make sure the accountant is a member of one of the main professional bodies, The Institute of Chartered Accountants, The Association of Chartered Certified Accountants or The Chartered Institute of Management Accountants.

Speak to your local business contacts to see who they use. A personal recommendation is the best endorsement for any accountant. Then before meeting with a number of proposed firms, do some background work.

John continues: “It’s important to meet your potential new accountant fully prepared. You should know what services you require, why previous relationships have broken down and what your business hopes to achieve in the long term. Think about how big your company is and how big it wants to grow because your accountant should complement these plans.”

While it’s not necessary for big companies to use a big accountancy firm or small companies to use small firms, the price and service offered should suit your needs.

John concludes: “Small companies very rarely need to pay the fees big accountancy firms charge, as a small firm will usually be sufficient and more cost effective. Simply make sure you get full details of the charges and a breakdown of how much you will have to spend over the next 12 months.

“By following these tips you hopefully won’t be back in the position of searching for an accountant again next January.”