finance articles businesses business management business marketing Technologies finance accounting Industrial Manufacturing starting a small business Investment health information

Questions you should ask your accountant monthly


Building a relationship with your accountant is very important to your business success.Asking the right questions and being on the same page as your accountant is a huge step in the right direction.As you get to know your accountant they will meet with you and already know what you are going to ask.

To start the relationship you need to come into meetings with your accountant with the most productive questions in mind.Know what you want to find out, be prepared with a list of questions.Whether you sit down with your accountant every month and have a meeting, or simply keep informed by short conversations, don't be afraid to ask.

Businesses finances are different for every type of business, and what is applicable to one won't be to another.Based on your business, you will know what questions you need to stay informed on each month.You should be able to use the ideas discussed below to spark a few questions you never thought to ask.

Tax time is an important time of year to be informed by your accountant, but not the only time.Keep these things in mind about your situation: what time of year is busiest for the company, when is the slow season, what factors determine a slow season?These will help you know when and what to expect each month.During tax season there are many things to remember to go over with your accountant, and always make sure they have all of the paperwork they are going to need.

If your accountant handles payroll it should be monitored monthly.Payroll should be able to tell you how your employees are performing.Also inventory, your accountant should know if any problems have come up with your inventory and they should also be able to make suggestions for future purchases.

Your budget should be set with your accountant and followed by your employees.Going over your budget and making adjustments where needed is something that should never be overlooked.Having a good budget and following it will be the most profitable thing you can do for your business.And your accountant should be able to find solutions for lowering costs throughout your company.

Your accountant should be able to spot a trend in your finances.Whether it is an upward trend with a specific product, a downward trend in your marketing, or anything in between.If your accountant is keeping an accurate record on hand they should spot trends that will affect your finances.

Keeping updated with your accountant will also help you know if the accountant or firm you chose is doing what you need.Monthly updates will help you see if your accountant is growing with your business or if you need to find an accountant that better knows bigger businesses.

Another way to know what to ask your accountant would be to talk with your employees.They will always have a different point of view and may offer some insight you overlooked.They may also be able to give you knew information to pass on to your accountant.

Know that you and your accountant have a common goal.Remember that they truly have your best interests at heart.Be open with questions and they will be open with answers.Your business is your business, and it's ok to stick your nose in it!

FREE: Get More Leads!
How To Get More LeadsSubscribe to our free newsletter and get our "How To Get More Leads" course free via email. Just enter your first name and email address below to subscribe.
First Name *
Email *


Get More Business Info
Sponsored Links
Recent Articles

Categories

Copyright 2003-2020 by BusinessKnowledgeSource.com - All Rights Reserved
Privacy Policy, Terms of Use