A Certified Public Accountant will do a lot for your business, but many business owners continuously feel like they aren’t getting enough out of their relationship with their CPA. Whether it’s because they’re too busy or you’re only not utilizing them to their full potential, there will always be ways to enhance this relationship.
CPAs provide accounting, bookkeeping, and tax services to keep your company in good standing financially and with the IRS. They will — hopefully — become a trusted advisor to your team that provides valuable insight year-round.
There are several things you can do to start building your relationship with your CPA, yet many business owners aren’t following them. To avoid making a mistake like the many owners before you, try considering the following when working alongside your CPA:
- Listen to what they tell you
- Meet and speak often
- Know their expertise
- Give them company-wide access
- You get what you pay for
Let’s take a closer look at these five considerations that often get overlooked when working with a Certified Public Accountant.
Listen To What They Tell You
You hired a CPA for a reason, but it can be way too easy to overlook their suggestions and advice in lieu of your own wishes. The last thing your CPA wants to see is their hard work and analysis going in one ear and out the other.
If your CPA tells you it’s time to make a tax payment, you shouldn’t hesitate. If they want to speak with you, allocate the necessary time in your day. The more you make them feel like a part of your team, the more effort and attention you’ll receive from your accountant.
Meet and Speak Often
Business owners are busy people, but so are their accountants. Most CPA firms will have several hundred clients to work with, and each accountant will have a large workload on their desk each day. Still, that’s no reason to shy away from meeting and speaking with your CPA.
A CPA has a lot of information that can help you improve your business operations on a daily basis; you just need to be proactive in seeking their help. You should consider meeting by phone or a video call once per month (at least), as well as a face-to-face meeting every quarter.
Know Your CPA’s Expertise
Every CPA will come with their own strengths and weaknesses. Some might be more skilled when it comes to taxes, while others might feel more comfortable managing payroll and other business expenses. Knowing how to use your CPA to their strengths can enhance the service they provide for your business.
Ideally, you’ll want to work with a CPA that has experience in your industry — or, at the very least, an interest in your industry. Remember, a happy accountant makes for a happy business.
Give Your CPA Company-Wide Access
CPAs live and feed off data. The more information you give them, the more they can help your business make sound decisions daily. Luckily, this is becoming extremely easy with the use of technology today.
Cloud-based platforms will allow you to easily transfer data to your CPA, while not taking up large amounts of your day. When they have easy access, it makes them better prepared for whatever happens.
You Get What You Pay For
Lastly, accounting services are no different than any other service your business relies on — you get what you pay for. If you genuinely want a CPA that eventually becomes a powerful partner to your business, you need to make it worth their time.
While a CPA can do so much for your business, it’s essential that you partner with the right one. By taking the above bullet points into consideration, you will effectively get the most out of your CPA and will forever reap the benefits.