How to Choose An Online Accountant

Small and medium business can often struggle to find the time to manage the bookkeeping and accountancy requirements of their business. Any new, or small business needs commitment 100% focus and dedication and therefore it can become a balancing act, between doing the actual work you enjoy and are paid to do and looking after your company accounts. As more and more service based industries are becoming dedicated to assisting their clients online, so too are accountants. Many traditional bookkeeping firms understand the possibilities of online accountancy, but underestimate the requirements of small and medium businesses and therefore fail to offer a reliable, efficient and trustworthy service.
As with any online firm it can be difficult to determine who is good and who is all talk. A smooth slick website does not necessarily mean a smooth slick accountant. But in a similar way, can you trust an accountant who does not spend the time, or money to make their digital 'front door' look appealing to potential new clients.
The below list details a set of guidelines that you should look for in any potential online accountant:

• Site Content - plenty of site content, preferably with examples and case studies, not just pretty pictures of people who don't even work in that company.
• Experience - experience counts for everything in accounting.
• Sector Experience - knowledge of your particular industry and past work with relevant clients.
• Flexibility - You work long hours on your business and your accountant should be able to work around you, especially if they are online.
• Explanations - You probably don't need to, or even want to understand every term, but you want your accountant to offer a basic explanation, in English!
• Consistent Point of Contact - You don't want an anonymous email, or a different person everytime you call, but a small team that understand your account.
• Contact Details - ideally a land-line telephone number and a postal address, not a PO Box. Try calling the number as well and see how long it takes for an answer, as this will give a good indication of how long it will take to answer if you do choose them to handle your accounts.
• Registered, or Trade Organisations - Always choose an accountant that is a member of the Institute of Chartered Accountants.
• Fixed Fee Details - If your accountant is willing to work from a fixed fee then identify exactly what that includes and make sure that it is in writing that there will be no hidden extra charges.

It is also important to remember that the cheapest is not necessarily the best option. If an accountant only costs you £100 per year, but your tax bill is £900, then you should have chosen the accountant who charged £300 per year, but reduced your tax bill to £500. This is down to experience and understanding your industry experience.
If you are still unsure then check for references online, or speak to a friend, or business colleague, a recommendation is often the best approach.