Tue 21 / 07 / 15
Common questions that accountants get asked
We asked Ian Wilson, an Associate at Hilton Sharp & Clarke Chartered Accountants, to tell us about the most common questions he receives from clients.
One of the most common questions I receive from clients, especially start-ups, is where can I find one place with all the information I need to keep track of reporting obligations? More recently, I am also being asked about Cloud based accounting software packages and apps that can help clients and their employees keep track of their expenses.
Here are my tips:
Keep in contact with your accountant. Although the majority of accountants will advise clients of pending deadlines, it never hurts to call and check what is coming up. If you are contemplating a business decision a quick call to your accountant may quickly highlight advantages or disadvantages of the decision you are about to make, enabling you to make a better choice.
If you do not have an accountant yet, see one as soon as you can. Most accountants offer a free initial consultation at which you can ask basic questions and get an idea of the type of advice and assistance you need (HSC offers this!). We are here to make it easier for you to spend time running your business instead of worrying about potential missed deadlines or how much your next tax bill will be.
Look into Cloud-based accounting software. This is making it so much easier for businesses to not only see up-to-date information about cashflow, profit etc, but means that your accountant can have instant access when you need help during the year.
Take advantage of apps to help record expenses, especially out of pocket expenses and business mileage. HSC has its own app which anyone can download, why not give it a go. The information can be transferred into excel and form part of your accounting records.
Networking and business support. Although I am biased as a member of Brighton and Hove Chamber of Commerce, try out networking with them and similar organisations. There are so many networking events now in Sussex, there will be something that you can fit around your work and home commitments. I find networking a great way of meeting people to discuss what is happening and find out about new initiatives and sources of support, such as Business Navigator, run through Coast2Captial.
Hilton Sharp & Clarke is the largest independent firm of Chartered accountants in Brighton, employing staff with a range of expertise in areas including personal and corporate tax, bookkeeping, payroll, accounts and auditing, we can be a one stop shop for our client’s needs.
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If you want to contribute to the Chamber blog, contact us on hannah@brightonchamber.co.uk