Maintaining relationships in today’s time can be tricky, but the one with your accountant should not be. Your accountant is an important personality for your business and its success. They are responsible for keeping your business’ finances in check. You should be able to trust this person and count on their skills to maximize the company’s financial health.
If you find yourself constantly confused and frustrated with your current accountant and the status of your company’s finances, it is time to look for a new person to manage your books. After all, your accountant is supposed to lower your burden, not increase it. Consult with an accounting firm Naperville, IL, to hire the best expert.
Signs it may be time for a new accountant
- They do not communicate.
When you own a business and hire people to do specific tasks, you must be able to communicate with them. Your accountant should communicate their thought processes about your finances to you. While it is your responsibility to constantly be in contact with them, your accountant is responsible for keeping you updated about things via the phone, email, text message, etc.
If it has been long since your accountant spoke to you about your company’s financial picture, they are not doing their job right.
- They do not provide financial statements every month.
Being the owner of a company or business comes with a bunch of responsibilities. You may need to constantly make decisions about your business to keep it running and moving forward. However, you won’t be able to make the best decisions if your accountant does not provide you with financial updates about your company.
Some important information they should give you without asking includes a Profit & Loss Statement, Cash Flow Statement, and Balance Sheet Statement.
- There are errors and inaccuracies in your financial statements.
The very reason you hire an accountant, a person who is supposed to be an expert in managing your books, is to ensure that your books are neat and accurate. Something is wrong if you keep noticing small errors in your financial statements and reports. As a business owner, you should beware of every small mistake your accountant makes and never let even one of them slide. Small mistakes lead up to big ones later.
- They miss deadlines.
One of the important qualities of being an accountant is being on time with their reports and financial statements. If your accountant is not keeping your books up to date, there is no point in paying them to do the work. Missing a deadline can cost your business money and time.