If you run a small business, chances are you’ve got an accountant. You probably hear from them once a year—usually around tax season—when they send you your year-end accounts, file your return, and maybe answer a few basic questions.
But is that all you should expect?
The truth is, a good accountant can do far more than just keep you compliant. If your accountant isn’t doing the things below, you might be missing out on better profits, fewer surprises, and more peace of mind.
1. Helping You Understand Your Numbers
Getting a set of accounts once a year is no good if you don’t understand what they’re telling you. Your accountant should be helping you interpret the figures—not just handing over a report.
They should explain:
- How profitable your business really is
- Where your biggest costs are
- What the numbers mean for your next steps
If you regularly leave meetings more confused than when you went in, that’s a red flag.
2. Talking to You More Than Once a Year
If the only time you hear from your accountant is when something’s due, it’s a reactive relationship. That might be fine for a side hustle—but if you’re growing, you need more.
Regular check-ins (even quarterly) allow your accountant to:
- Spot issues early (like looming cashflow gaps or creeping costs)
- Help you plan for tax before it’s too late
- Offer insight as your business evolves
You shouldn’t have to chase them just to get advice.
3. Helping You Plan for Tax, Not Just Pay It
Anyone can file a tax return. A proactive accountant helps you plan ahead—so you’re not scrambling to find money or being hit with unexpected bills.
This includes:
- Estimating your tax liability well in advance
- Making sure you claim all allowable deductions
- Advising on whether to register for VAT, go limited, or change your accounting year-end
Tax should never be a surprise.
4. Using (and Explaining) the Right Tools
If your accountant is still asking for printed receipts or spreadsheets, you’re being short-changed. At a minimum, they should be using modern, cloud-based tools—like Xero, QuickBooks or FreeAgent—and helping you get the most out of them.
They should also show you how to:
- Track your income and expenses efficiently
- Use dashboards and reports to see how your business is doing
- Store digital records for Making Tax Digital compliance
5. Helping You Make Better Business Decisions
This is where a great accountant becomes a real asset.
You should be able to turn to them for:
- Cashflow forecasts
- Hiring decisions
- Pricing strategy
- Funding advice
- Scenario planning (e.g. “What if I take on this new contract?”)
If they only look backwards, they’re missing half the picture—and so are you.
6. Tailoring Advice to Your Industry or Business Model
A one-size-fits-all approach doesn’t cut it anymore.
Your accountant should understand the nuances of your sector—whether that’s CIS and job costing for builders, retainer income for agencies, or seasonal cashflow for trades.
Tailored insight means:
- More relevant advice
- Fewer costly mistakes
- Faster, better decisions
7. Being Clear, Approachable and Easy to Work With
Last but not least: communication.
You should feel comfortable asking questions without fear of jargon, judgment, or hidden fees. A good accountant explains things in plain English and works as part of your team—not as an external box-ticker.
Final Thoughts
If your accountant is doing all of the above—fantastic. But if not, it might be time to ask whether you’re getting real value, or just a tax return.
At My Finance Department, we go beyond compliance. We give small business owners clarity, confidence, and commercial insight—not just paperwork.
If you want an accountant who helps you move forward, not just look backwards, let’s talk.
