Experts are constantly telling us that relationships are complex and can be hard work. Your relationship with your Accountant should be a healthy and straight forward one, don’t be shy to catch up on a regular basis.
Understanding and monitoring your business’ financial performance is critical and generally your Accountant holds the key to the information you need most. Staying on top of your debtors/creditors and understanding the ‘ins’ and ‘outs’ of your cash flow helps you make decisions about your operations and business investments.
Meeting your Accountant on a monthly basis can be very helpful in assessing performance and identifying any emerging financial risks. Catching these risks early means that mitigation strategies can be implemented on a timely basis, which can be a significant competitive advantage.