The Auckland entrepreneur, for the most part, needs to know everything there is to know about the business. He needs to be knowledgeable about how each process, each department or unit in the organization works. Having the right set of information can help the business grow. Of course, the business owner does have access to professional support allowing him to focus on running the company while the key workers concentrate on specific matters -- like taxes, cash collection, and payroll.
While it's certainly helpful that you, as the business owner, know things about cash disbursements, proper accounting and such, there is still no substitute for the expertise and experience of an Auckland accountant. When you hire a professional accountant, you ensure that records are kept, reports are done properly, expenses are maintained and controlled, and certain entitlements are obtained to help you pay less tax. Here are some essential tips on choosing your accountant.
Choose a chartered accountant. Chartered accountants follow ethical and professional standards as set by the New Zealand Institute of Chartered Accountants. The standards and guides issued are critical to maintain and regulate an accountant's quality of work.
Make sure the accountant's services reflect your specific accounting needs.Some accountants not only offer general accounting services but they also provide business and tax planning, strategic business analysis, company formation, and even family trusts. Look for an accountant or accounting firm in Auckland that delivers the exact kind of services and support you need.
Get referrals from people you trust. Sometimes it helps to get other people to recommend an accountant. In getting recommendations, you'll have at least some idea of how the accountant works and what sort of good things he has been able to contribute to a previous or existing client.
Ask about the fee structure. Never forget to talk about fees. Is your accountant going to charge you an hourly rate or will you pay for a fixed fee? Make sure you receive a letter of engagement, which outlines the responsibilities of the accountant (and your own as well), so you can gauge whether or not the estimated fee that was quoted is fair and just.
Your accountant should be honest, smart, professional, and has a good reputation in the industry. It could take a while to find your ideal accountant but an exhaustive search is better than a quick search, especially where the handling of your business's finances are concerned. You need to trust your accountant. So choose carefully.
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Article Added on Monday, July 14, 2014
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