A professional accountant is one of your business’s most important resources as they can help your company grow and succeed. However, if you have an accountant that isn’t that great, they may actually be hurting you more than they are helping you. With that in mind, here are 5 warning signs that may indicate you need to hire a new accountant like Randall Dang!
1. No explanation of financial statements
One of your main reasons for hiring an accountant may have been to go over your financial statements because many can find it challenging to interpret what they mean. With that said, if your accountant keeps you in the dark or they cannot explain the financial statements in a way that you can understand, it may be time to find a new accountant. A good accountant like Randall Dang will be able to decipher the information and relay it in an easy to understand format so you will know what’s going on.
2. They don’t know the industry
Every industry is different, which means there could be different tax codes and tax breaks that could apply to your business. If your accountant is not familiar with your industry, they could be jeopardizing your business. When looking for a new accountant, ask them for some client references who are in similar industries because this can give you some insight on their experience.
3. Communication is difficult
Do you have problems contacting your accountant over the phone? Do they take weeks to get back to you over email? If so, it is time to cut ties and find a new accountant. Communication is key, especially when it has to do with your business’s finances. Taking extra, unnecessary steps just to reach someone wastes your time and just adds more stress to the process. Find an accountant who will make time for your business and your finances.
4. They don’t provide advice
If your accountant can’t bring new ideas to the table to increase your profits or to better manage the business’s finances, you might want to find a new accountant. While they certainly are not responsible for running your business, they should be able to give you some advice and suggestions to make more money in the long run.
5. They always file documents late
One of the other big reasons why you may have originally hired an accountant could have been to file taxes in on time. It’s easy for business owners to get overwhelmed at the thought of preparing tax documents, so it’s a common thing to hire an accountant for just that reason. However, if your accountant is filing all of your legal tax documents late, it is a bad sign.
Taking on a new accountant can be a breath of fresh air because they will bring a new perspective to the table and can help you grow. If your current accountant exhibits any of the above warning signs, it’s time to start looking for a new one.