Accountants are like doctors, often we stick with them because well, they’ve been your doctor for years and it’s just too hard to explain everything to someone new!
This is especially true if you’re running a business. We’ve seen too many good people having been burnt by their previous accountant simply not being across what they should have been, and filtering information back to clients when it’s too late. Sadly, this is often because they’re not aware themselves until it’s too late.
Just like a doctor, it’s important to have an open honest relationship with your accountant. If you feel you can’t be brutally honest, you should ask yourself why?. Is it because of them, is it because of you, or is it both?
Nobody needs a doctor who is unable to tell their patients exactly how it is. If something is not right, you need to know about it yesterday. Your accountant should be no different. They too should be able to give you the honest facts in relation to your business, whether they be good, bad or ugly.
So, what does make a good accountant?
Your accountant should take the time to understand you and your business and they should be able to work with you to help you achieve your goals and maximise the value you receive from your business.
Many accountants are stuck as compliance oriented ‘box-tickers’, which is fine if this is what your business needs, but please don’t choose a ‘box-ticker’ if what you really want is a business confidant or help with increased visibility, business strategy, achieving efficiencies within your business, or improving profits. Not all accountants are the same and it’s important to find one who’s aligned with your business and able to assist you in achieving your goals. After all, two heads are better than one, three heads are better than two, and so on.
There are numerous reasons why people look to change accountants, including:
Regardless of the reason, you may find yourself in a position where it’s worthwhile asking if your accountant is the right one for you. A useful tool for decision-making is to understand the cost involved with ‘doing nothing’. At a general level, people can find change daunting or difficult and this tends to become a reason for inaction. This is concerning, because often business owners won’t fully understand the costs associated with ‘inaction’ (this is called mis-opportunity cost!) and will blissfully continue as they were, accepting that things could be better but not fully understanding the real costs associated with inaction.
"Advivo has helped me manage the finance side of my business so I can focus on other aspects of the business. With Advivo’s assistance, my books are tidy and controlled and it is comforting knowing that I have the full support of the entire Advivo office."Concut Pty Ltd
"We are very happy with Advivo – they have exceeded our expectations and it really has started changing our way of thinking about the business. From an operational side, we are now being innovative where we once weren’t. Advivo has fine tuned our business in every aspect and this has improved our product development."Xtra Insights