Getting an accountant is the first step for any business who wants to be successful. Whilst this shows good aspirations to keep your finances controlled, it’s important you choose an accountant of the right standard. If your accountant is constantly making mistakes, it could be time to move on.
Coleman & Co can help all small businesses and medical workers with their finances. Working throughout Lisburn, we provide a private and personal accountant, with accuracy regarding all finances.
Who’s Responsible?
A bad accountant is a big worry and not just because they might make mistakes in your finances. Your accountant making mistakes can have a big impact on your business. When dealing with the HMRC and other legal payments, your finances are your responsibility. Therefore if inaccurate and incorrect payments are made, you will be held liable, not your accountant.
This can come as a big shock to most businesses and could leave you completely unprepared. When you think your accountant is in control of your finances, it could end up with your business facing penalties. Finding a trusted, qualified and quality accountant is a priority for every business and you should never settle for mistake-prone services.
Mispresenting Qualifications
Whether your accountant is experienced or a fresh face in the industry, you should always choose a qualified team. If a business misrepresents their qualifications and accreditations in the accounting industry, they usually can’t be trusted.
We aren’t saying that all accountants without qualifications are poor, but it can put your mind at ease knowing your accountant has good knowledge of all finances. Even if they are qualified, but also claim to be members of other trusted bodies when they are not, this is never a sign of good accountants.
Illegal Practices
Depending on how you run your business, most people look to stay within the law regarding their finances. Whilst there are trips and tricks within the trade, accountants should never step outside the law even if it benefits your business. If your accountant condones bad practice or suggests schemes that seem too good to be true, tread very carefully.
Even if you think this could significantly help your business, it is not an option you should take. There are many ways to save your business money without having to do anything illegal. Accountants can be caught out and you should never go along with any bad practices. Finding accountants who adhere to all laws is a much less risky option for your business and avoids the possibility of large fines.
Careless Errors
Everyone can make mistakes, even accountants. Whether it’s a mistype or miscommunication, errors will occur. However, most accountants will make a quick correction of any errors and will not be caught out on regularly. If your accountant is constantly making mistakes, you should seek a new one before it impacts your business.
Careless errors can not only lead to fines or investigations, but they can also appear to be covering something up, which could lead to investigations or enquiries from the HMRC. Whilst this may not result in anything, it does waste time that a better accountant would have prevented.
Leaving It Late
As a business, you want to have good knowledge and understanding of your finances. If your accountant is always leaving things to the last minute, it’s difficult to grasp whether your finances are under control.
Accountants should always organise finances well in advance, whether this is for payments or tax returns. By recording your finances with effective bookkeeping, you will have the best possible knowledge of business finances.
Contact Us
If you are unhappy with your accountant in Lisburn, changing accountants should never be a struggle. Coleman & Co are happy to help all clients in Lisburn, offering a comprehensive service regarding your finances. Speak to our team today and call 028 9266 3599 or fill in our contact form to make an enquiry.