Why Choose Us
Your business accountant can be a great asset if you choose wisely. They will maintain your books, give you advice when needed, plan for your taxes, and ensure you meet all of your compliance deadlines. They can also save your business thousands of dollars, make your life easier, and be your trusted advisor throughout the entire life of your business (and beyond).
Are you getting the personalised service and attention for the fees that you are paying?
Essential factors to consider when choosing your business accountant:
Find an accountant that will help you from day one to get structured correctly, setup your systems, manage your expenses, and be compliant for tax purposes. The only way to achieve this is by having an accountant who really ‘gets it.’ You need an advisor who also runs a business, not an employee who can’t identify with the unique needs of business owners.
Ensure they are CPA (or CA) qualified. In Australia, anyone can call themselves an ‘accountant,’ so it’s important to check that they are qualified by the peak bodies. CPA and CA are the top designations and members of these two organisations must work hard to become qualified and then stay qualified. These accountants adhere to rigorous ethical standards and are bound to act in the best interests of their clients. They’re also more likely to give you strategic advice for your business beyond the basics of bookkeeping, tax compliance and general financial statements. Working with an accountant who doesn’t hold a CPA or CA qualification is risky. Don’t fall for the gimmicks of a salesman who happens to call himself an accountant.
Go with a small accounting firm. Many have the same skill sets as the large firms. Small firms are more agile and better equipped to work with small and medium businesses. You’ll also get more attention at a small firm.
Know who you will be dealing with in the accounting firm, and whether your work will be done in Australia. Many firms delegate client matters to less experienced junior staff or outsource work to groups in the Philippines or India. Beware that the person you speak to or meet initially, might not be the person handling your work and dealing with you on a day-to-day basis. If your personal information is being sent overseas, they’re paying them a fraction of what it would cost here. Is this being reflected in your fees? Or are you still paying top dollar? How are they ensuring your financial information is being kept safe and secure?
Not all accountants are business minded. Find an accountant that lives and breathes small and medium businesses and is well rounded in several industries including yours.
How do they charge and how much? Some accountants charge by the hour and others provide a fixed fee option so you know in advance what you will pay for. Like most things in life the most expensive option isn’t always the best, and the cheapest is also unlikely to provide the best outcomes for your business.
How will they communicate with you and how often? Will it be in person, on the phone, or online? Will that happen weekly, monthly, or once a year? This will depend on the amount of assistance you need and what your accountant is capable of.
Woodward & Co. is a CPA firm with deep skills in helping business owners across a wide range of industries grow and succeed. We like to stay in regular contact with clients, and we provide fixed fee estimates so you know in advance how much you will pay. We also don’t charge for quick phone calls and emails, so there will be no surprises.
We would love to be the trusted advisor for your business. Get in contact today for a free no-obligation discussion regarding your business and how we can help.
Accounting Done Right.
Get in touch today and let's discuss your financial requirements with a free initial consultation