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Comparing accountancy services?

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Splash_Promo_Matt

Free Member
Mar 9, 2010
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Hi there,

I run my own limited company (incorporated in Feb 2010) and we have Sage Line 50 software through our Essentials account with Barclays...(I haven't actually spent any time using it yet to be honest)

I have the opportunity to meet up with a friend of a friend who offers accountancy services - what sort of questions should I be asking?
 
Are they qualified to do the work you require?

Are they registered for MLR?

Do they hold PII?

Do they have experience of accounting in the particular field you will be working in?

How much do they charge, how and when is payment to be made?

You should get a couple of quotes for comparison purposes (once you have identified exactly what services you wish your accountant to take on for you).
 
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MLR = Money Laundering Regulations. All accountants have obligations to report suspicions of criminal activity. Qualified accountants are registered through their Institutes, others have to register direct with HMRC

PII = professional indemnity insurance - to cover the accountant in the case of negligence costing you money

Don't pick somebody who talks jargon (Hard luck, Dave! :D ) It's as much about feeling comfortable with the accountant and understanding what is being said

You don't have to pass any exams to call yourself an accountant. There are good unqualifieds and poor qualifieds, but at least you'll have the ability to complain to a professional body if something does go wrong. Ask about qualifications.

Ask about the basis of fees. Do they do fixed fee agreements? If so, what is included and what would be extras?

Recommendation is best, but only from a client
 
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Have a look at the sticky on how to choose an accountant - I think that covers most things.

How much are you paying for Sage with Barclays. I know that they used to charge circ £20 / month.

There may be other / better / cheaper solutions and every penny counts when starting up IMO.

Good luck
 
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elainec100 said:
Have a look at the sticky on how to choose an accountant - I think that covers most things.

How much are you paying for Sage with Barclays. I know that they used to charge circ £20 / month.

There may be other / better / cheaper solutions and every penny counts when starting up IMO.

Good luck
Click to expand...

I negotiated a deal on the package but you're so right that every penny counts!
 
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The services and prices are all pretty consistent.

Meet 3-5 local accountants and go with the one you communicate with most effectivly.
 
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