Many business owners have been conditioned to think of the accountant as someone they speak to when accounts are due, a return needs filing or a tax bill has appeared.
Those conversations are necessary. They’re just not always where the greatest value sits.
Good moments to start a conversation
Before a significant commitment
A new hire, premises, equipment purchase or other recurring cost can look manageable in isolation. A conversation can help put the commitment into the wider financial picture.
When something changes quickly
A strong growth month, sudden cost increase or unexpected cash movement may deserve context before it becomes the new normal.
Before taking money from the business differently
Changes to how an owner extracts or uses money can have consequences. The important point is to ask early enough for options to still exist.
When you simply don’t feel clear
You don’t need a technical reason to ask a question. “I’m not sure what this means” is often enough to justify a useful conversation.
Why timing matters
Once a transaction has happened or a commitment has been signed, the conversation can become retrospective: what are the consequences of what we’ve already done?
Before the commitment, the conversation can be different: what are our options, what might this mean and is there anything we should understand first?
That shift from retrospective to proactive is a small change in behaviour, but it can create a much better accounting relationship.
You shouldn’t have to save questions for year end
If you regularly find yourself storing up questions because you’re not sure whether you’re “supposed” to contact your accountant, the relationship probably isn’t working as well as it could.
A modern accounting relationship should make it easy to ask the question while it still matters.
This article is general information, not advice tailored to your circumstances. The financial and tax consequences of a decision depend on the facts, so seek appropriate advice before acting.