Characteristics of Service Providers
Choosing the right service provider can always be challenging especially because communication becomes vital, especially if you are starting your own business which means tens of calls on a weekly basis until you get organised with all accounting and tax aspects!
So how are service providers different?
We list below the various profiles of service providers we have come across. See which one suits you!
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The introvert: what would anyone say the typical accountant!
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The extrovert: what would anyone say, the not typical accountant!
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The casual accountant; everyone's person but be cautious.
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The snobbish accountant
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The neighbor accountant
Which accountant profile suits you?
The introvert! The Typical Accountant
Great with numbers but not easy to get along with as having conversations for the business and anything else becomes a mission.
If you need a solid robot to process your records, then this profile is for you! Do not expect much assistance anywhere else!
The extrovert! The NON-Typical Accountant
Great communicator knows lots of issues but sometimes not in great detail. Having said that it does the same job as the typical accountant but maybe not in so much detail. Being an extrovert gives this type of accountant the benefit to talk more with clients and to get to develop better business Accumen which can be used for your business.
If you need something more than just a record keeper, someone to advice you on day-to-day operations and maybe marketing, then this type of accountant is the right for you.
The casual accountant
To become an accountant especially a member of the ICAEW or ACCA requires a certain skill type and character that it is not common. This is the reason graduates of these two prestigious professional bodies are so well remunerated.
As a result, they do not act as the ordinary person next door. Somehow you can tell that they have a certain amount of higher, professional education.
It is too common to come across a really nice person, very friendly and easy going who is also an accountant and with whom you feel very comfortable chatting just about anything.
From our experience this accountant profile is really adorable however sometimes lacks not so much in the professional expertise and knowledge but in their organisational skills and judgement.
This profile is rather easy to be identified; these accountants who are always on a rush and when you get to know them you get a feel that they always struggle with something, usually organisational skills.
If you run a small business these accountants could be ideal for you as they are easy to chat with, charge lower fees and they have the technical expertise to assist you, but as you grow bigger it could be the case that they will not be able to meet your professional needs and requirements!
The snobbish accountant
Coming from a very good university and usually graduating from a big 4 audit and assurance firms, you can stop thinking that these accountants may be thinking too much of themselves. Although this is not so common in Cyprus it is certainly the case in London and New York.
The snobbish accountants are ideal for big corporations and organizations as their audit and assurance firms have the right size and personnel to facilitate usually their audit and tax requirements.
If you run a company with more than 300 employees maybe a “snobbish” accountant should be the right fit for you!
The neighbor accountant
The neighbor accountant is a small accountancy practice (it is rarely a small audit practice as well) servicing small businesses usually across the street! Limited knowledge on tax or business matters but does the filing and reporting job ok at great prices!
If you run a very small and simple operation and you need an accountant to simply process your records and proceed with the submissions of the statutory minimum requirements then the neighbor accountant may be the right fit for you, at least at the beginning.
In Conclusion
Like all products, there are different types of accounting / audit firms and different personalities of the partners you will work with. Take enough time to study your accountant so that you select the one that meets your specific needs.
If for instance you really care about monthly assistance with the back-office operations and continuous business advice, then you will be looking for a less busy accountant with whom you have some chemistry and whose practice is not really big, as he or she will be devoting sufficient time with you.
We can make things easier for you!
If you are looking for an accountant, auditor or tax expert try Finhub!
All our Service Providers (Accountants, Auditors, Tax Experts) are regulated, licensed and quality checked by our team. Once you receive their offers which should be within your budget go and meet them. Have a coffee with them and get a feel of whether they are the best candidates to work with.