How often should you speak to your Accountant?

Your answer:

  1. Once a year when I lodge my tax return – WRONG
  2. When I have a problem with the ATO – WRONG
  3. When I need some advice – CORRECT

So, let’s elaborate of this issue of needing advice.

When do you need it?

That will depend on you and your level of financial intel, your systems and your support. If you have these 3 things well covered, then less frequent contact might be needed. However, if you do not have the required level of financial intel and the right systems and the required level of support, then it should be quite often.

If you see your Accountant as someone who merely lodges tax returns and activity statements, then you’re missing the mark. The reality is, you can do that yourself (assuming you have the inclination).

You should be seeing your Accountant as a Trusted Advisor. Someone who can work along side you to help you grow your business. Someone who you can bounce ideas off. Someone who can guide you down the right path. Someone who can bring in other professionals to ensure you’re getting the best of everything. That is what your Accountant should be and if he or she is not, then maybe the right relationship does not exist.

So, ask yourself again, how often should I speak to my Accountant?

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Tony Dimitriadis