Like many professions, Accountants have found their roles evolving over recent years with the advancement of technology and the changing expectations of clients. Inevitably some Accountants have managed to embrace these changes better than others, but what does this mean for the clients of those firms who are perhaps lagging a little behind? Sadly, it probably means that the clients are not getting the services they expect and the accountant is not providing the services they should be in a modern fast paced world. Here is a list of 6 things that we at Orange Genie Accountancy feel that your accountant should be doing (but probably doesn’t):
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Offer fixed prices for services
Business owners hate unexpected bills and there is nothing worse than a nasty surprise that you were not budgeting for. In the “good old days” accountants would keep time sheets and tell you the price of the work after it had been done, based on their time and costs. There is a better and fairer way to set your fees. Your accountant should discuss their fees with you ahead of the work based on the value and support they can provide to your business. At Orange Genie Accountancy we offer fixed monthly fees for all regular work and if something extra crops up, we will agree a fee before we start so there are no surprise bills and you can forecast with complete peace of mind.
Identify the most tax efficient structure for your business and reduce tax bills
You have set up a business to sell your services and expertise so its not surprising that you are not an expert on business structures and tax planning. Your accountant should be offering suggestions and solutions as to the best way to structure business in order to meet your aspirations and goals. Proactive business and tax planning are vital to make sure you succeed, but we know many accountants just follow the status quo year after year and don’t look to offer new ideas. Orange Genie Accountancy harness the real time data available via our online bookkeeping systems to make sure we provide proactive advice as and when its needed.
Help you take home more money
With advice on tax efficient structure and reduced tax bills should come the ability for your accountant to make sure you are drawing the money you need to maintain the lifestyle you dreamed of. Your accountant should be in an ideal position to ensure you are paying as little tax as is legally possible and that you are enjoying the rewards of your hard work. Orange Genie Accountancy will provide advice on personal income as well as your business finances as part of their regular reports and reviews.
Problem solve and proactively seek opportunities for your business
Is your accountant purely contacting you at your year end in time to file accounts and tax returns? We believe they should be doing more. A good accountant will be your go to advisor to solve business problems and they should be on hand to suggest solutions and opportunities to improve your business. Orange Genie Accountancy customers enjoy the benefit of building a long-term relationship with a dedicated accountant who really gets to know their business and is available to talk or meet about any issues whenever they are needed.
Understand your industry
For your accountant to be able to offer you the support you need to grow your business they have to understand your world. We pride ourselves on our industry knowledge of different sectors including the media, creative arts, construction, IT , Health & Safety and contractors and freelancers. We get to know where your business operates in the market so we can offer the best advice. If we don’t know as much about your world as we would like we will make it our business to find out and to gain as much insight from you and our research as we can.
Better work life balance
Running your own business can be all consuming but its important to remember that you need to take a break and one of your reasons for going it alone was probably to achieve a better work life balance. Orange Genie Accountancy’s support and technology will mean we can structure a service that makes the mundane efficient, means we are on hand to answer questions and solve problems quickly allowing you to focus on your business and making sure you have down time for family.
If you have read through this list and you don’t recognise your current accountant then maybe its time to think about what you really want from an accountant? It maybe that you have not ever really thought about what else is available beyond the completion of accounts and tax returns, but hopefully now you can see the benefits that a good accountant can bring. Engaging an accountant is about engaging a long-term business advisor, someone who cares about your business as much as you do.
If you think it's time for a change, give one of our senior accountants a call on 01296 468185 and arrange a free consultation. You have nothing to lose, let’s start talking today.
Why Orange Genie Accountancy?
Orange Genie Accountancy offers fixed fee accountancy packages to contractors and freelancers. Each client has unlimited access to their own dedicated approachable and friendly accountant. All Orange Genie Accountancy accountants are specialists in the contracting market, so they can give you bespoke, high quality advice.
We will always keep you informed about anything that could affect you and your company. Our relationships with our clients are extremely important to us so we'll be in touch often, whether it be face to face, over the telephone or email.
Our packages start at £75 + VAT a month for an online service. Our most popular package is £120 + VAT a month which provides you with your very own dedicated accountant as well as:
Unlimited accountancy support
Face to face meetings so we can get to know you and understand your contracting goals
Proactive contact
Director and employee payroll
Annual Return
Self-Assessment Return
A fully compliant service so you are safe in the knowledge that you are meeting your legal obligations
And much more, includingaccess to wealth management advice, IR35 reviews and pensions planning.
If you would like to appoint Orange Genie Accountancy as your accountants please either fill out our enquiry form or give one of our friendly expert accountants a call on 01296 468 185 or email accountancy@orangegenie.com.