A Business Owner’s Guide

E3 Business Accountants Limited

How to Choose the Right Accountant for Your Business

INTRODUCTION Not all accountants are created equal when it comes to the services they offer their clients. If you want your business to be the best it can be, then choosing the right accountant is one of the most important decisions you need to make…

Jamie Tulloch Managing Director E3 Business Accountants jamie@e3accountants.co.nz

Is your current accountant up to the task or just an interested bystander?

Here are 18 questions to benchmark your accountant against what you can

have from your accountant.

You pay good money to your accountant and you need to know if your accountant offers every possible service in response.

1. UP FRONT PRICING

Does your accountant guarantee a fixed price for your annual accounts? What else do you buy where the price is unknown until you get the bill?

No surprises, you know the cost

before we start the work.

Up Front Pricing Your accountant: Yes or No? E3 Business Accountants

2. TIME OR VALUE BASED BILLING?

Value Based Billing Your accountant: Yes or No? E3 Business Accountants

Does your accountant charge you in 6, 10 or 15 minute intervals? If so, there is no incentive to complete your work quickly. Why hurry if every minute gets billed?

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3. GUARANTEED DELIVERY DATE

Guaranteed Delivery Date Your accountant: Yes or No? E3 Business Accountants

Can your accountant guarantee to deliver your accounts on the exact day you need them? If not, what sort of example is coming from your so-called trusted business advisor?

4. TAX PLANNER CALENDAR

Tax Planner Calendar Your accountant: Yes or No? E3 Business Accountants

Planning tax payments can be a headache. Does your accountant provide you with a tax planner listing the date and amount of tax you need to pay up to 12 months in advance?

5. FINANCIAL RECORDS FOLDER

Financial Records Folder Your accountant: Yes or No? E3 Business Accountants

Are you given a 12-month folder so that when you present your work at the end of the year, it’s tidy and orderly? Orderly records help reduce your accounting fees.

6. TIPS TO REDUCE YOUR ACCOUNTING FEES

Tips to Reduce Your Accounting Fees Your accountant: Yes or No? E3 Business Accountants

Does your accountant show you how to save money on your annual accounting work? (Ask us for our e-book “58 Tips On How to Reduce Your Accounting Fees”.)

FreeDigitalPhotos.net | Stuart Miles

7. FAST RESPONSES

Fast Responses Your accountant: Yes or No? E3 Business Accountants

Are your emails or phone calls answered the same day?

FreeDigitalPhotos.net | Stuart Miles

8. FEE REBATE FOR EARLY PAYMENT

Fee Rebate for Early Payment Your accountant: Yes or No? E3 Business Accountants

Do you get a rebate for paying your fees early? Probably not - most accountants don’t know how much they’re going to bill you until every minute is added up.

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9. FREE QUESTION AND ANSWER SERVICE

Free Email Q & A Service Your accountant: Yes or No? E3 Business Accountants

Does your accountant offer to answer simple accounting, tax and business questions within 24 working hours – without charging you?

10.NZ S BEST BUSINESS AND TAX TIPS NEWSLETTER

Business & Tax Tips Your accountant: Yes or No? E3 Business Accountants

Does your accountant provide you with business and tax tips via email?

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11.FINANCIAL ANALYSIS

Financial Analysis Your accountant: Yes or No? E3 Business Accountants

Can your accountant analyse your key performance indicators live on screen so you can test the outcome of strategic decisions BEFORE you commit to them?

12.KEY PERFORMANCE INDICATORS

Key Performance Indicators Your accountant: Yes or No? E3 Business Accountants

Does your accountant understand the key performance indicators of your business and offer reports alongside your annual accounts?

FreeDigitalPhotos.net | Stuart Miles

13.BENCHMARKING AGAINST COMPETITORS

Benchmarking Your accountant: Yes or No? E3 Business Accountants

Does your accountant know if you are a top performer or a cellar dweller? You should know exactly where you stand and what to change to become one of the best.

14.INSTITUTE OF CHARTERED ACCOUNTANTS

Institute of Chartered Accountants Your accountant: Yes or No? E3 Business Accountants

Are your accountant’s procedures and practices audited by the New Zealand Institute of Chartered Accountants?

15.EXIT AND SUCCESSION STRATEGIES

Developing Exit Strategies Your accountant: Yes or No? E3 Business Accountants

Does your accountant give you advice on how to maximise the tax free value of your business? Don’t plan your succession from your hospital bed – start it now.

16.ONE FREE MEETING EVERY YEAR

One Free Meeting Every Year Your accountant: Yes or No? E3 Business Accountants

Does the senior partner of your accounting firm meet with you at least annually to talk through business concerns and opportunities? Is it free?

Gross Profit

FreeDigitalPhotos.net | Stuart Miles

Complimentary Insurance Audit Your accountant: Yes or No? E3 Business Accountants

FreeDigitalPhotos.net | David Castillo Dominici

17.INSURANCE AUDITS

Would you continue to receive income if you couldn’t work for six months? E3 offers a full and comprehensive insurance audit – without cost.

Sales and Marketing Strategies Your accountant: Yes or No? E3 Business Accountants

18.SALES AND MARKETING STRATEGIES

Does your accountant know and understand how to increase sales and develop successful marketing strategies? Or do they leave that to outside consultants?

OK, so how did your accountant rate? If you got No more often than Yes then you need to look very closely at what E3 Business Accountants can offer. Make a booking today to secure the production of your annual accounts for the 2015 financial year on a fixed price fixed delivery day agreement.

TAKE THE NEXT STEP Contact me, Jamie Tulloch, for a free, no obligation meeting to discuss how E3 can make a big difference to your business.

EMAIL ME FOR A CHAT