What should my accountant do for me?
The Role of an Accountant
Something that’s largely misunderstood by people who need an accountant is what the accountant is actually expected to do for them.
Diverse Specialisms in Accountancy
Accountancy is such a huge remit – and can cover many specialisms. Many thousands of one-man-band accountants around the country do a similarly general range of things for their clients. Most are well-behaved and stick to what they know, and others cover absolutely everything they can. Even medium-sized firms can be guilty of mission creep. Some firms get into financial services, others offer administrative services and even HR advice.
The Need for Specialisation
The truth is that to keep up to date with the continual rule changes in tax and compliance. Accountants need to specialise more these days than ever before. Being a one-size-fits-all firm is getting harder as all services require a fair amount of continual training.
Choosing the Right Accountant
Our advice when choosing an accountant is to look at how large the firm is and compare that with the services they offer. If they’re a 100-person firm and only do audits, they might not be best at offering advice on a bookkeeping system. If they’re a one-person firm and are offering to do everything you need, you might want to consider if they have time to do all this work – and the training that goes along with keeping current. An accountant who can’t help you ought to volunteer in all cases. Don’t be afraid to ask if the thing you need is something they’re genuinely able to help you with. Accountants should be open about what they can do for you and what they can’t.
Beyond Accountancy: Additional Support
But what should an accountant be doing outside of actual accountancy knowledge for their clients?
We think it’s important for accountants to be there for clients, with almost no limits on what they’re struggling with. It doesn’t mean that a firm needs to start offering technical advice when a machine breaks down or to fix a broken server – but we’re well connected as an industry and usually know someone who can help.
Also, many things find their way back to finance, somehow. If someone’s struggling to get a loan, it might be that a tidy-up of their accounting system is what’s needed. Or if their bookkeeper leaves, we might be able to put the client in touch with a good recruitment agency. It might be that a client has no cash, which might be due to poor credit control procedures or a clunky banking system.
MNE Accounting: Your Trusted Partner
In the complex world of accountancy, it’s often challenging for individuals and businesses to discern what they truly need from an accountant. The landscape is vast, with practitioners offering a range of services from audits to financial advice. At MNE Accounting, we understand the evolving nature of our industry, where specialisation and expertise are paramount.
When you choose an accountant, consider their size and ability to cater to your unique needs. We believe in transparency and accountability. If there’s a task we can’t assist with, we’ll be upfront about it, ensuring you receive the best guidance for your specific challenges.
Beyond the realm of traditional accountancy, our commitment is to be your trusted partner, ready to help with any financial obstacle you encounter. From optimising your accounting system to connecting you with resources for loans or recruitment, we’re here to support your financial success.
Don’t navigate the complexities of finance alone. Contact MNE Accounting today and experience the difference expertise can make in achieving your financial goals.