Like most architects, you probably don't have the time to deal with the finances of your practice. You are too busy brainstorming on the next big skyscraper or are simply not interested in managing all the paperwork involved in accounting. If this is the case, it's important to properly select and take on an accountant for your architecture firm-one who truly understands the unique challenges of the architecture niche and is an expert in the taxation laws that apply specifically to architects. How do you find an account for architects that can truly deliver? To help you out, here are some questions you can ask potential accountants before you make a hiring decision:
• Do you have background in dealing with architecture companies?
You have to make sure that the accounting firm that you are about to hire knows the client they are dealing with and has had many years of experience with clients in your particular field. This will ease out the adjustment process, as the accountant you will hire already knows the nooks and crannies of dealing with the unique billing, accounting, and payroll challenges in architectural firms. Also check if their list of clients and see if there are any notable architecture firms on their roster.
• How can you help us?
This may sound like a broad question, but this gives your potential accounting firm a chance to elaborate on their experiences with other architecture firms and what they have done for those companies. Where they able to help their clients save on taxes, or perhaps fund for their expansion? Choose a firm that can demonstrate established methods and economically compliant systems on financial reporting and forecasting. This includes systems to monitor job profitability. Make sure they provide proof that they had improved productivity with their previous client.
• How much would this cost me?
Many accounting firms offer free initial consultation and even instant quotations. Simply contact them on their website. Doing a little research online could give you a rough estimate on how much hiring an accountant for architects would cost. Don't let the costs discourage you. Paying for professional advice will be more worth it as it can save you from expensive mistakes.
Allenby Accountants is an independent accounting firm, located in Uxbridge, the western part of London. We are accountants, business advisers, offering financial services and helping you to achieve your business objectives. Our offered range of services includes accounting, bookkeeping, tax management, VAT management, tax planning, Inheritance tax, capital gains tax issues, succession planning, etc. We specialise in offering services to sectors like medical & healthcare, retail industry, professional services, property & construction industry, charity and not-for-profit organisations and more.