A good accountant should be able to save your money. Do some help combined with smart work.This would decrease the stress regarding book keeping and accounting.
- Get all the information to your accountant 6 weeks before the due date. As it is pretty much difficult to guess how much tax has to be paid. You should give your accountant a good amount of time to work. You don’t want him to get stressed. Of course he should be in a jolly mood when he is preparing your bills.
- Prepare a list of revenues and expenses. It will save both of your times. See to it that the revenues and expenses are added and totaled. Basically, you need to do the book keeping.
- Always total the revenues and expenses at the bottom. By doing so your accountant would be able to read the total easily. If you don’t do it, your accountant would be fixing errors and charging you extra money.
- Always double check. If the expenses are missing the accountant would start noticing the errors and also correct them. The more time he takes, the more he charges.
- Be available for questions any time of the day. If any file is missing take a minute out of your busy schedule and talk to your accountant. Your accountant tends to work on many files at a time. If you don’t respond to his calls in a time of emergency, your files would be thrown last in the queue gain. This would take a lot of time and money.
- Improve your housekeeping skills and get prepared for your audit well before time. Prepare an account table with all the keys and formulae written. Keep all the receipts, pass book, etc related to your transactios during an audit.
- You should look if your accountant is a person who would like you to be honest and open about your accounts. Are they artistic and innovative or do they react on small things. You’re accountant should fit for the character you imagine him to be.
- Keep yourself focused. If the accountant is at your place keep the social and personal chatter to the minimum. If the accountant takes you out for lunch, take the initiative of paying. Go to their office and keep your calls very minimum.
If you follow all these things, you would end up paying very little to your accountant and your work would be done.
Raj Kumar is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance clap.