As a contractor, it is essential that you appoint an accountant who will provide you with the technical knowledge required to maintain your accounts. It can often be difficult to find the right accountant, but there a few things you should look out for.
In this blog post, Gorilla Accounting will be taking a look at the benefits of two types of accountants.
High Street Accountant
There are benefits to choosing to work with a high street accountant, the main advantage is that the high street accountant will be local. This can be seen as a ‘must have’ for some contractors, as it can give you more confidence that should you face a problem you can go in and speak to your accountant face to face.
In addition, going to a high street accountant may end up as more cost effective depending on the service that is offered. A high street accountant may be able to offer you a better deal as they may not utilise some of the tools that contractor accountants use, such as an online accounting tool.
In the vast amount of cases it is beneficial to go with a contractor accountant over a high street accountant for a number of reasons.
A contractor accountant will already have prior experience of dealing with contractors and as a result, will already have a tailored service to suit your needs. Typically, with a select number of contractor accountants, you will receive access to an online bookkeeping tool such as FreeAgent. This is something which is beneficial to contractors as it allows you to get an instant snapshot of your business health.
Dependant on the location of your contractor accountant, you may not be able to see them face-to-face. However, this may not be a disadvantage for some contractors as in many cases, there is no need to meet your accountant as a lot of your exchanges can be done via telephone, email or in some cases video conferencing.
To find out more about the benefits of a contractor accountant, make sure to contact our New Business team on 0330 024 0406. Alternatively, you can email us on firstname.lastname@example.org.