9 Reasons Your Accountant May Be About to Fire You

August 21, 2014 by Georgette Rowland Osborne

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You're Fired

I am going to show you how, without possibly even realising it, you could actually be the reason you don’t have a better relationship with your accountant.

I am going to give you a little reality check, so you can decide whether it is your accountant you need to change or your attitude.

To download the audio file to your computer, please right click on this link and choose save link as, or save target as, depending on your browser.

If you would rather read while you listen or you prefer to just read without the audio or video, we have provided the full transcript further down the page for you.

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Transcript

If you watched my video “Is it Time to Fire Your Accountant?” I gave you some red flags to be aware of so you can move on with a clear conscience.

If you haven’t seen that one, make sure you do.

In this one I am going to show you how, without possibly even realising it, you could actually be the reason you don’t have a better relationship with your accountant.

Coming up, I am going to give you 9 tips you can use to decide whether it is time to change accountant.

Today I am going to give you a little reality check, so you can decide whether it is your accountant you need to change or your attitude.

How many times have we been dissatisfied with a supplier or service? Replaced them with another supplier and then in no time found we are dealing with the very same issues that caused you to change suppliers the last time.

Maybe the problems did not begin and end with the supplier. Because most people are professional, they are loathe to call us out on our crap, so we can continue on oblivious to the consequences of our actions.

Changing providers even for the better is a hassle, so if you have an opportunity to resolve, why not take it.

Some things to watch out for are:

1. Your accountant has to remind you over and over to provide your paperwork. And when you do, it is at the last minute and then there is a mad panic to meet tax or compliance deadlines.

2. You don’t do or have any proper bookkeeping or record keeping system so the accountant has to start from scratch or unravel a tangled unfinished mess.

3. You contact your accountant at all hours of the day and night and expect an immediate response.

4. You try and get services or advice over and above the initial agreement for free. If you catch yourself starting conversations or emails with the words “Just a quickie…” “Or I hope you don’t mind…”, check how often you do it. Are you taking the ……

5. You rarely pay your fees on time, even though you mean to. Maybe you need an instalment plan.

6. You have successfully negotiated a lower fee but still want to receive higher fee service.

7. Deep down you resent or don’t value accounting fees anyway so no matter who your accountant is, they have their work cut out trying to impress you.

8. You don’t follow advice, but still complain or stress that things are not working out.

9. You keep changing accountants and it is always “their fault”.

You can hold your head up now; lightning is not going to strike you where you sit.

I just wanted to highlight that there are 2 sides to every coin and it does us no harm to check our own perception, expectations and behaviour from time to time.

You are just caught up in your world, just like the rest of us.

Plus being an entrepreneur is no walk in the park, it is hard work.

If you recognised yourself in any of those, don’t despair, you are not a bad person.

Just promise me the next time you catch yourself cursing out your accountant; even if it is just in your head.

Maybe stop, count to ten and think about how you may be contributing to the situation.

And in the words of Dizzy Rascal “Fix Up, Look Sharp”

Is it Time to Fire Your Accountant?

August 21, 2014 by Georgette Rowland Osborne

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Fire Your Accountant

How do you know you are getting a good service from your accountant? If you are not happy with your current accountant:

Are you right about them? Are you misinformed? Or are you just plain picky.

Well I am going to give you 9 tips you can use to decide whether it is time to change accountant.

To download the audio file to your computer, please right click on this link and choose save link as, or save target as, depending on your browser.

If you would rather read while you listen or you prefer to just read without the audio or video, we have provided the full transcript further down the page for you.

Be a part of the Financial Gym Inner Circle for Free and be amongst the first to get:

Updates on ways to improve your day to day business money and productivity issues
Real life stories
Free video tips and tutorials
Downloads and templates to keep and use in your business

Click here to subscribe to my mailing list

Resources and Items Mentioned

Check out Resources – Georgette Recommends page

Transcript

How do you know you are getting a good service from your accountant? If you are not happy with your current accountant:

Are you right about them? Are you misinformed? Or are you just plain picky.

Coming up, I am going to give you 9 tips you can use to decide whether it is time to change accountant.

There are some amazing accountants and accountancy firms out there, but they are not all created equal. Forget whether they are experts in tax, or compliance or any other service for that matter.

What you need also need to be looking at is how they interact with you. Business person to business person.

Be aware that even if your accountant messes up, the buck still stops with you. So if your accountant files your returns late or there is later found to be an inaccuracy. It is you who are legally responsible. And any financial penalties or fines have to be paid by you, not them.

“It’s not my fault”

Just won’t wash with the authorities.

So you can’t afford to be complacent about the service you are getting.

But it is not just the practical things that should be red flags, there are more subtle things which you are probably aware of on some level; but do not feel are serious enough to make a fuss about.

See if any of these apply to you:

1. Your accounts, tax returns, benefit declarations etc are filed late despite the fact your accountant had everything they asked for ages ago.

(Though if you are the give information at the last minute in a shoebox person, then my friend, you only have yourself to blame).

2. You deal with different people each time, who have to familiarise themselves with your business before you can move on, so causing a delay in getting your questions answered.

3. If you deal with one particular accountant, they ask you the same questions again and again, showing they clearly are not interested in your business besides doing the paperwork.

4. You are charged on an hourly basis.

In a world where value for money is more important than ever, hourly rates promote inefficiency. Why should slower service cost you more?

5. You are quoted a fee for the year but you get additional bills that you were not expecting. So you avoid asking for help; in case it ends up costing you more money.

6. Your accountant doesn’t explain what your numbers mean in a language you understand.

And closely related

7. Your accountant makes you feel stupid.

8. If you do find yourself in hot water with the tax office your accountant doesn’t have your back and leaves you to it.

9. They are unaware or are unwilling to explore of new trends in business that could improve quality & efficiency e.g. cloud technology, virtual services. – This one is very common in the finance industry.

This is by no means an exhaustive list. You can probably come up with others that I haven’t mentioned here. I am just using the most common complaints that I get from the hundreds of businesses that I have dealt with over the years.

So if after that you think “You know what, I am getting a raw deal here”, do something about it. Even if it is just tactfully bringing any concerns you have to your accountant’s attention.

It could be that it is you who is actually not being a good client.

WHAT?!!

Go watch my video 9 Reasons Your Accountant May be About to Fire You……..If you dare

If you question your accountant you won’t be sent to the gallows

November 14, 2011 by Georgette Rowland Osborne

Remembering you’re the boss

A client of mine referred one of their business associates to me recently who was in the same business as them and was having no luck finding the right bookkeeper for their business.

Even the one employed by their accountant had not worked out. I had to conclude that this business was either very demanding and difficult to please or they were just not getting their needs met.

Even during the initial conversation on the telephone I could sense the desperation to get themselves sorted as they had no idea where they were financially other than what they saw in the bank.

I visited them at their premises and it is a lovely little business, offering a prestige service that has been held back by uncertainty and the director feeling overwhelmed.

The first thing the director did was get their accountant on the telephone to discuss what he believed they needed. As it turned out he felt they should have a part time bookkeeper that worked from their premises a few days a week.

I explained that my business was an outsource service and on site bookkeeping was a different type of service altogether but I was happy to have an informal chat about their situation, maybe I could give them some pointers they could use in the meantime.

As the discussion progressed, it turned out that they personally did not want to use up precious desk space, as office space was tight. The software they had was inadequate and they preferred to spend the money on software specific to the operations side of the business. Not to mention that they had never received regular updates on their financial situation. In addition they had a VAT Return due and they had no idea whether it had been done and if they were supposed to pay anything to the VAT man.

I was then introduced to the lady who ran the office and as we talked I knew they needed a service like mine and so did she. But even as they asked me when could I start sorting them out, charges, etc I could sniff the sense of disloyalty in the air brought on by doing something opposite to the instructions of their accountant.

It is amazing how we make crucial, often life changing decisions in our businesses all the time, but can be so susceptible to the opinions of others just because we believe we are out of our depth in an area.

As with any service or advice from professionals, listen to what they have to offer, respect their experience and then make your own decision. Ultimately all roads will lead back to you no matter what anybody else says.

If you are uncomfortable with a situation or do not think it is really meeting your needs; feel free to express it, you are the boss, you are the client.

We in professional services are sometimes so convinced of our expertise in an area that it can be easy to lose sight of the simple task of making a client happy and assume that a client does not know what is best. In fairness to the accountant I think he believed it was what they wanted because they had never expressed anything else. All it took was a conversation where they felt free to express themselves and a wealth of information came out.

Your accountant has much to offer, not just in compliance, but in expertise and guidance. And if you get a really good one they are worth their weight in gold as business advisors.

But remember you are an entrepreneur and while you may not be a tax expert, you are the expert when it comes to your business, trust yourself.

Have any of you found yourself feeling like the child in your business when dealing with professionals and consultants, how did you handle it?

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Remembering you’re the boss

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