6 Signs Screaming “Find a New Accounting Firm!”

The accounting firm your company employs is one of its most significant assets.

With the help of your accountants, your company is able to decrease its tax load, thereby allowing for reinvestment and an increase in the company’s overall growth. This is why it is of the utmost importance to acquire the very best firm for your company’s needs. With the growth of your business you may discover that you need a new accounting company to be able to keep up with your goals and requirements.

Since it may prove easier said than done to decide whether your business has outgrown its accountants, we have put together the following easy to see signs which will alert you to the fact that it is time for a change:

1. Bad service

   If you find that it is becoming more and more difficult to get someone to answer your call or phone you back, it could be that the accountants think your company is small fry and not worth giving efficient service to. Perhaps the accounting company is too big for your small business, if so, move on as soon as possible. You deserve the best service you can get and will be losing money and opportunities by staying on with the wrong accounting firm.

2. The accounting firm has no idea what your business is

   If you find yourself having to explain what it is your company does every time you call, it doesn’t inspire much confidence at all. You need a firm that will invest the time and effort to get to know you and what your business is. You should be able to communicate with the accounts often and not just once a year when the taxes are due. You need to be comfortable with the firm and know that they are interested in your business and concerns.

3. You discover errors on the accountant’s part

   Should you discover that the accounting firm has forgotten to file your capital gains or something equally serious, it is time to get rid of them and find someone else. You certainly don’t expect the accounts to make errors, but they are only human after all and it does occur from time to time. Be vigilant and alert for basic mistakes, especially if they happen regularly.

4. The accountants are only deducting the basics

   As a business you are entitled to various deductions not just the basic child and health-care tax deductions. The accounting firm should make sure you get all the deductions your company is eligible for. This permits rapid depreciations of any fresh corporate assets you may have. Deductions are an excellent way to perk up your operating cash flow.

5. The accountants do not suggest proactive ideas which will lessen the tax load

   You will realize your accountants are not trying their best if they do not make a complete analysis to discover the best types of structures and tax incentives that would best benefit each of the different areas that your business may service. Make sure they do a thorough job which will lessen your tax load significantly.

6. Your company is the firm’s largest client

   You don’t want to be the firm’s smallest client but neither to be the largest. You need a firm with noteworthy experience under their belt. If they don’t have the necessary experience with companies of your size and caliber, they will not be able to give you the best service. You do not need them using your business as a learning experience and making errors at your expense.

These factors may seem obvious now that you have actually read them but a lot of companies fail to notice these simple signs and will lose money unnecessarily. In order to get the very best care and service for your goals, you need to find the right accounting firm. Make sure that you do so as soon as possible. Even if you have been with the firm for years, don’t be afraid to make changes. You certainly won’t regret it and your company will benefit in every way. PHS is offering its services with professionalism and having always its client’s special needs as its first priority.