8 signs you should switch your small business accountant

Small business owners sometimes shy away from the thought of switching their accountants even though there are some obvious signs that it’s time for a change. There can be a perception that they will have to deal with lots of paperwork, notify relevant government departments and spend the time they don’t have when making the switch. This can be a costly mistake, as we will discover. If you find the right accountant, the switch can also be very painless.  ​

In this blog, we’re going to shed some light on the top signs you should switch your small business accountant. ​

It’s important to keep accounting fees transparent at all times. Your small business accountant should clearly communicate how they will charge you, and what their model is: fixed, or they charge an hourly rate etc. This sets the expectation for both parties and gives you the confidence that you'll avoid surprise bills before you sign up with them. If you’re never entirely sure how much your bills are going to be, or often see unexpected costs without explanation, then you should consider switching your business accountant. If they communicate with you clearly and on a regular basis, there should be no surprise bills.​

With Beany, our pricing is transparent. We charge a monthly fixed fee from £85 per month depending on your income for companies, and from £35 per month for sole traders. If you have a need that sits outside of our core accounting packages, you can always talk to us for a custom quote, or choose from our range of extra services. More importantly, we will never charge you for asking questions - you’re only paying for what you need. ​

When considering switching to another small business accountant, price is an important factor. If you’re paying too much for what you actually need, it’s time for a change. ​

The average cost of a small business accountant varies widely, it depends on their qualifications (for example, a chartered accountant is likely to charge you a higher rate), areas of expertise, years of experience and more. You can compare similar services to see if you're paying a fair price. ​

Your small business accountant doesn't have to be an expert in your industry, but they should have a decent understanding of it. This means they understand how your industry works, what pain points business owners may have, and the challenges business owners may face. You should be having conversations about your business’s financial performance, what industry-specific regulations you should leverage, and future plans, whether that be growth or expansion, maintaining, or positioning your business for sale. Your business accountant is unlikely to be a good fit without the proper industry knowledge.  ​

Beany accountants do more than crunch numbers and maintain compliance; we have extensive experience in a range of industries such as professional services, construction, property, and so on. Rather than giving one-size-fits-all advice, we hand pick your Beany accountant based on your mutual fit. Get in touch with us today, and let’s grow your business together. ​

Do you have to chase for an answer from your small business accountant? Do you have a lot of urgent questions to ask before tax deadlines but have to wait for a reply? You should consider how responsive and approachable your accountant is as one of the most important factors when choosing them. Your small business accountant acts as an advisor to help you achieve your business goals. There’s nothing more frustrating than asking an important question and having to wait days for a response.​

At Beany, we have a team of knowledgeable support specialists to help you with any inquiries. You can call or email us with any questions you have, and expect a quick turnaround time - that’s a promise.​

For almost all businesses, the bottom line is maximising profitability and reducing costs wherever possible. As your small business accountant, they should be minimising your taxes, identifying business cost savings, and opportunities for increasing profitability. ​

If your small business accountant only files your taxes and sends you the bills instead of discussing any of these strategies, it may be time to move on from them. ​

Have you felt even more confused after the conversation with your business accountant? In some cases, accountants do speak jargon. It’s okay for you not to understand what they’re saying but you should have an open discourse and feel comfortable to ask what they mean. If your small business accountant doesn't even bother explaining in plain English, or brushes you off every time you ask a question, you may need to reconsider whether they're right for you.​

It’s frustrating that you don’t get a full picture of your business’s financial situation because your accountant is speaking the technical language that you have little knowledge of (and shouldn’t be expected to!)​

You should be aware of the latest rules and available grants. However, as a business owner, you likely don’t have the time or accounting expertise to keep up with every regulation change. Your existing small business accountant may not be the best fit if you find out after a regulation has been implemented or you've missed out on an opportunity such as a government grant. ​

Either your accountant is unaware of the changes, or fails to communicate with you. Keeping your business up-to-date with all changes and opportunities is difficult if your accountant is not aware of them, or communicating them to you. This begs the question, ‘Is there anything else I’m missing out on?’​

Taking advantage of the latest technology can help you to gain a competitive advantage in your industry. It allows you to focus on driving your business instead of spending time on repetitive tasks such as tax administration. A good accountant for small businesses understands your business completely, and will give recommendations based on not only key financial performance indicators, but a holistic analysis of your company’s situation. Having up-to-date information and records will help you to make informed decisions, so you should work with a small business accountant who understands your accounting software and tech stack. ​

If the above issues are familiar, we’d love to chat. We’ve streamlined the whole process of switching accountants, and we can handle the breakup for you. Contact us to find out more or schedule a chat.​

We're an online accounting firm that is always right here for you, your accounting pain relief. The most advanced technology lets us work way more closely with you than a normal accountant would.​​

We have a dedicated team of remote accountants to take care of your business no matter where you are, so you can focus on growing your business. We take out the ‘fluff’, break down the barriers and get things done. Looking out for you is what we are all about. Get started for free today.​