Signs You Need A New Accountant

It is essential to have a strong accountant for your growing business. Unfortunately, sometime, you might have to detect some red flags in order to find out if your accountant is still the best fit your your company and your needs, or not. Detecting one or more of these, might be an indicator that you need a new accountant:
  • Lack of Regular Financial Reporting
  • Errors in Financial Statements
  • Communication isn't Strong Enough
A strong accountant will be able to help you keep track of your finances and make sure that everything is in order. They will also be able to communicate well with you to understand what is happening. If you have any questions, they should be able to answer them quickly. Lastly, a strong accountant will establish internal controls to prevent fraudulent activity. If you find any of these red flags, don't hesitate to start looking for a new accountant. Let's discuss these concerns, shall we?
Lack Of Regular Financial Reports
The lack of regular financial reports means that the company's financial performance is not communicated to shareholders on a timely and regular basis, making it difficult for them to make informed investment decisions. This is not a scenario shareholders would like to be in since the business always needs to be clear on direction.

Another challenge that companies face when it comes to accounting is the lack of transparency in their financial reporting. Not knowing with transparency where your business stands make critical decision-making difficult.

Errors In Financial Statements
Errors in financial statements can hurt your bottom line. It does not present an accurate and fair view of an organization's financial position, results, or cash flows. Nobody wants to run a business with that kind of blindside.

If you find an error in your financial statements, it is essential to correct it as soon as possible. Depending on the severity of the error, it may need correction by restarting the affected financial statements. If you are unsure how to correct the error, you should seek professional advice.
Communication Isn't Strong Enough 
When you have an accountant that doesn't communicate effectively, you may not get all the information you need to make informed business decisions. If your accountant is unresponsive to your questions or requests for information, it can strain your relationship and hinder the progress of your business. A practical accountant should be able to provide timely and accurate information when needed. All these red flags are indicators of when to find a new accountant.

Bottom Line; Talk To The Experts 
KAW Solutions is QuickBooks consulting and full-service bookkeeping firm. We offer a wide range of services, including bookkeeping, general ledger, accounts payable, accounts receivable, payroll, payroll taxes, sales tax, and cash flow management.

KAW Solutions has a team of expert consultants that work closely with clients to understand their business needs, then recommend and implement the best business accounting solution. For a free initial consultation, contact us today.


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