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Improve your business by changing your accountant

Many managing directors place a great deal of trust into the hands of their bookkeeper and accountant. Many MDs tell us that one of their biggest challenges is how to review their accountant’s work effectively, what are the appropriate checks and balances? What timescales should they expect? What does best practice look like when you have never
seen it?

MDs know that the numbers are important but their instincts are best in growing the business and less attuned to the nuances of finance, double-entry bookkeeping and the mystique that poor quality accountants throw up to protect their space.

We have numerous clients who have found themselves in a financial hole caused by poor accounting and who have come to us to help them get out of that hole. Often we have been required to

  • Redesign systems and accounting records so that they’re doing the right job
  • Negotiate with the tax man for time to pay tax
  • Chase down old debtors and collect cash owed to the company
  • Kick into touch the offline spreadsheets that have been used as workarounds and which aren’t necessary to get the job done properly

Poor quality accountants are like KGB sleepers, you may not know that you have got one until it’s too late.

Not sure if your accountants are doing the right job? Give us a call on 020 7384 6800.

 

Michael
@diaryofanomb