Accounting Services Perth | Kensington Partners

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Should my accountant be able to help me with anything other than tax?

Yes! An accountant that is committed to your financial present and future will be able to help you with more than just tax. They will be forward thinking and ensure that you have a plan A, B and C in place by helping with SMSF, investment, succession planning, estate planning, business advisory and retirement planning.

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Is it better to pay my accountant by the hour or on a fixed fee?

In most cases, you will be best off paying fixed fee pricing instead of an hourly rate. This helps you to better plan for the cost of accounting services and ensures you will not face unexpected or inflated fees in periods when more is needed from your accountant. This also means that you can put greater trust in your accountant, knowing that they are working efficiently, not dragging out your time in order to bump up your fee.

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Are there accounting firms that specialise in particular industries?

You may find different firms claiming to be the expert tax accountant for property, tax accountant for medical or similar. This usually means their legislative understanding and experience will be focused in that area and may, in fact, mean they are more suited to you if their expertise is relevant to your needs. Above all, it is always important to discuss your individual needs as well as the firm's processes and payment structures to find out if they are the right fit for you.

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How do I choose the best accountant for me?

It’s important to consider the experience and expertise you require from an accountant when choosing who will be right for you. Ask how they have helped someone similar to you in the past or how long they have been working with clients like you in order to better assess their suitability. If it’s a small business accountant you need, you may like to find someone with personal experience running a small business or who has worked with numerous small businesses in your industry. You will also want to ask about the payment structures, processes they follow and how they communicate with their clients to assess if they are the right accountant for you.

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Is it better to get bookkeeping services from my accountant or a bookkeeper?

If your accountant offers bookkeeping services, it is best to see them for both accounting and bookkeeping. This ensures that they understand your business even more and saves considerable time and likelihood of error by removing the ‘middleman’ when information is passed from your bookkeeper to your accountant, particularly come tax time.

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Should I choose an accountant near me just for convenience?

Choosing an accountant near you is not as important today as it was 20 years ago. It is important to meet face-to-face with your accountant on occasion however today, cloud accounting has enabled accounting information to be shared digitally, saving you numerous trips to your accountant’s office! When choosing your accountant, first consider if their expertise matches your needs, then, consider their location, processes and payment structures to ensure the way they work is compatible with you.