How often should I have contact with my Accountant?

August 24, 2021

Some say you that you should “meet” with your accountant about twice per year, once in January or February and once in March or April. The first meeting gives you a chance to learn about any updates to tax laws that may have been passed in the last year and the last meeting to go through your yearly tax return.

We absolutely don’t do that, and we won’t EVER!

The minute a client comes on board with us, we’re all in a team together.

We don’t just “do numbers”.  We don’t just appear at year end to ask you to trawl back for information that you’ve long since forgotten.  We’ll check in with you throughout the year.

How often and how long that takes will depend on the services that you require. We’re here to help and advise you in a way that suits your specific business, and we can’t do that once a year!

If you’re using us for your business finances, you should be meeting with us at least quarterly. This will help you to ensure that your quarterly tax payments are correct and on time. We can also review your records and check all your documentation are in order

You should also make a point to get in touch before any major financial decisions. If you’re considering expanding your business, it’s a good idea to meet with us to make sure your business can bear the weight of the extra expenses. The same goes if you’re planning to sell or close the business — meeting with an accountant can help you identify all of your options.

You may want to meet more often if we’re assisting with your bookkeeping but we’ll set meeting proposals at the outset, but we’ll regularly ask if you want to change that frequency.

At Aspire we’d suggest a good time frame would be to meet monthly.  Oh, and just to be sure all and any references to “meetings” above can be in person, on the phone, zoom – whatever works for you and us at the time.   When you do visit though, the kettle’s always warm and the chocolate biscuits replenished daily! 

We know how valuable it is to establish a great working relationship and have open communication and monthly check ins will allow us to do this effectively. So, if you’re only getting contact at the end of the year by your current accountant, they can’t be supporting you fully and guiding you to maximise allowances and make informed decisions on how to grow your business efficiently.   Waiting until the end of the company year to meet is the opposite of productive and gives you zero space to move on any advice that you’re given

So, in summary, definitely NOT once a year. Once a quarter with the odd email may suffice in some situations but the more, we chat, the more we know and understand

Our door – whether virtual or physical is always open!

It’s good to talk!