We always ask why business owners change accountants. Here are the 9 most common reasons so we thought we’d share them with you.
If you recognise any reasons your business may be held back maybe it's time to come and have a chat with us at E3.
2. INTRODUCTION
We always our new clients why they changed
from their old accountant to us.
Here are the 9 most common reasons.
If any of these reasons resonate with you it
might be time to come and talk with me at E3.
Jamie Tulloch
Managing Director
E3 Business Accountants
jamie@e3accountants.co.nz
3. “
Reason
#1 Explaining Taxes
I never really understood how
provisional tax was calculated and
when it was due.
My old accountant always talked like
an accountant which I could never
follow.
At times I felt my old accountant was
working for the IRD – and not for me.
”
4. Think about this:
Paying tax is a good thing. It means
you’re making a profit. More tax will
always mean more profit which means
more money to spend on your lifestyle.
You pay tax for the good (generally) of
the country. At E3 we make sure you
pay the lowest legal amount.
5. “
Reason
#2 Not Understanding Business
My old accountant was a really nice
young guy but I don't think he ever
understood what really goes on inside
my business.
He’d never run a business himself so
he struggled when we talked about
business and not accounting.
”
6. To Think About:
We know what it is like to have the
family home tied in with the success of
a business; we’re doing it.
When your family’s lifestyle depends on
more than just the numbers you need
an accountant that truly understands
business ownership.
7. “
Reason
#3 The Fees Mystery
My old accountant was never upfront
with fees. I just couldn't get him to
commit to giving me a price before he
started the work.
He kept using the excuse that he
didn’t know how long my job would
take.
So I gave up asking and moved on.
”
8. To Think About:
Would you agree to buy any product or
service without knowing what it would
cost?
Why should your accountant be any
different? Accountants should be good
at quoting for what they are going to
do.
9. “
Reason
#4 No Growth Advice
My old accountant had no idea about how
to grow my business. Whenever I went to
her with a new idea, she backed away
from advising me.
She wanted to stay solely with compliance
accounting which I could get from a
hundred other accountants. I needed an
accounting firm that supported my
ambition to grow and who inspired me. ”
10. To think about:
Businesses are either shrinking or
growing. Treading water doesn’t last for
long.
How to grow a business is the
knowledge that most business owners
seek.
11. “
Reason
#5 Big Name = Better Result?
My lawyer said I should choose a big name
accounting firm just to be safe - so I did.
After two years I knew the decision was
wrong. I wasn't getting the proactive
advice I really needed.
Their fees were heavy duty and I guess a
slice was to pay for the name and feeding
the international partners up the chain.
”
12. To Think About:
Local family owned businesses need
local knowledge and expertise. They
relate better to the everyday ownership
challenges that face each and every
owner.
Do the large firms really understand
that family lifestyles are exposed to the
success – or failure – of their business?
13. “
Reason
#6 When will they be ready?
My old accountant's fees were fair but
boy, did I have to wait and wait. They
could never tell me upfront just when my
accounts would be ready. I lost favour
with my bank and got behind with my
taxes because my old accountant was
just so slow and unreliable.
I called it snail accounting.
Photo: Domdeen, FreeDigitalImages.net
”
14. “
Reason
#7 Hello? Anybody Home?
I had to wait days for my old accountant
to reply to things I needed to know
today. Yes I am impatient but they were
either arrogant or just so disorganised
that everything they did was late.
That hardly filled me with confidence if
they were poor at their own time
management.
”
To Think About:
Local family owned businesses need
local knowledge and expertise. They relate
better to the everyday ownership challenges
that face each and every owner.
Do the large firms really understand that
family lifestyles are exposed to the success – or
failure – of their business?
15. To Think About:
How quickly does your accountant
answer your queries? In less than 24
hours?
We know what it’s like to be kept
dangling. We commit to responding to
phone calls and emails the same day.
16. “
Reason
#8 Breadth of Knowledge
I needed someone who really knew about
sales and marketing, and had real practical
expertise. My business was well positioned
to grow but I was looking for a better
strategy to increase sales – which comes
from having real marketing expertise. My
old accountant was out of his depth so I
chose an accounting company that knew a
lot about clever marketing strategies.
”
17. To think about:
To grow a business you need to grow
sales.
Being able to get this advice from your
accounting firm is rare – but that’s the
bonus you get from E3.
18. “
Reason
#9 Street-Wise Business Advice
My old accountant knew little about
business. I’m sure he never suffered
sleepless nights wondering how he’d pay his
staff because his cashflow had tanked.
I needed people with real street wise
business wisdom. This can only come from
someone with practical experience, not
someone who has studied the theories at
university.
”
19. To Think About:
When did your accountant last offer
you real smart business advice that you
went off and put into practice?
Has your accountant ever been
proactive and coming up with really
helpful business advice?
20. TAKE THE NEXT STEP
Let surprise invoices and mysterious
timeframes be a thing of the past.
Get an accounting firm with real
business experience who sees things
through the business owner’s eyes.
Contact me today for a free, no
obligation meeting.
CONTACT ME FOR A CHAT