What makes a good accountant?
Whether you are starting a business, acquiring a property, or seeking strategies to minimise tax, an accountant may just be the person you are looking for. Accounts essentially assist individuals and businesses with the management of their finances and financial obligations. Naturally tax and compliance are a key component of this, however the best accounts offer so much more.
For individuals, accountants can help with budgeting, investments, and in some instances advice and future planning. For business they may assist with strategy, cash flow, inventory, technology, and more. For specialist needs the likes of management accountants, tax accountants, trust accountants, and alike may assist you even further.
Indeed, engaging an accountant offers countless benefits. Their knowledge of legal and regulatory frameworks saves not only time; it can also be a great investment. The best accountants ultimately place your individual or business in the best position possible. In this article we’ll outline some factors to consider when choosing an accountant, and our pick of the best in Wagga.
What makes a great accountant?
Great accountants help individuals and business management their finances, taxes, record management, compliance, and obligations. As an essential professional service, we think the following aspects are worth considering:
- Qualified. Within Wagga and indeed Australia, all accountants must be appropriately qualified to practise within their field. Foundational education typically includes a Bachelor of Accounting or Business (Accounting) or a Master of Professional Accounting thereafter. Education aside, additional credentials are required to ensure your accountant is fully qualified for the task at hand. For example, only registered tax agents can lodge returns, and must be registered on the Taxation Practitioners Board. Similarly, only Australian financial services licence holders can provide financial advice. To see if your accountant is licensed visit the Australian Securities and Investments Commission.
- Accredited. After completing formal qualifications many accountants seek further accreditation through membership with a professional industry body. Three such notable accreditations include a Certified Practising Accountant (CPA), Chartered Accountant (CA ANZ) or Professional Practice Certificate (IPA). While each generally represents a deeper understanding of their respective area, they all reflect a high regard for professional conduct. Either way, seeking an accredited accountant offers enhanced credentials and expertise for personal or business needs.
- Specialised expertise. No two clients are ever the same, and the same holds true for their accountant. Complexities within the legal and regulatory landscape naturally carve out specialisations within the financial services sector. Hence, many accountants lend themselves to a specialisation or two; be it tax, management, trust, systems, funds, or company accountancy. When it comes to selecting an accountant, seek out those who specialise in your area of need. Consider their depth of their experience; typical clientele; and whether this fits your circumstance or need.
- Quality client care. As a client seeking accounting financial services you should expect nothing less than top quality client care. The best accountants are devoted to tight processes, detailed record keeping, and upfront transparency. They have clear fees and structures and ensure client outcomes are maximised. Importantly, great accountants are there when you need them; prioritising clients with urgent needs and attending to others swiftly.
- Recommended. A great place to start looking for an accountant is via recommendations from people you know. Speak to family, friends, and colleagues as often the most reputable come highly recommended. Also consider referrals from other professional service providers, who may deal with accountants on a regular basis. As always, be sure to consider your own individual circumstances, and what is best for you.
For individuals.
When it comes to personal matters, look for an accountant with the knowledge and expertise needed to help optimise your position. Specialisation in areas like tax, wealth management, estate or retirement planning, and investments could be beneficial. Moreover, your accountant should be personable and professional and be able to translate complex matters into easily digestible information. Availability via phone or email is also important, as is knowing you can readily secure an appointment.
For businesses.
As for business matters, consider finding an accountant with the depth and breadth of expertise to service all your business needs. Things like tax, bookkeeping, planning, budgeting, cash flow all fall under this remit; as does auditing, financial reporting, corporate structuring, and more. Equally as important is selecting an accountant that is familiar with the nature of your enterprise, business phase, and operating industry. Moreover, personal attributes like an eye for detail and their availability in times of need are also worth considering.
The best accountants in Wagga
Region Riverina has combed through online reviews and recommendations to compile a list of the most recommended businesses according to you.
To be listed in our Best of Wagga series, each business needs to have consistently received positive feedback on Region Riverina and Facebook as well as maintaining a minimum average of 4/5 stars on Google.
Easdowns Accountants & Advisers
Locally based Easdowns specialise in businesses, offering accounting service and business advice. Their approach is to offer both knowledge and experience to create long-term client relationships, effectively functioning as a business partner and resource.
Over their forty-year history they have amassed expertise in many areas crucial to small business. In addition to standard services, they also offer those aimed at aiding the daily running of a business. For business owners who want more from their accountant than just tax returns and financials, look to Easdowns Accountants & Advisors.
WDF Accounting + Advisory
WDF Accounting + Advisory is a locally based accounting firm established over 40 years ago. More than simply number crunchers, they provide clients with tailored accounting solutions. A hallmark of this service is their personalised approach, getting to know each client, their needs, and how these factors impact their financial situation.
Motivated by a genuine desire to help clients achieve their goals, they offer the guidance, expertise, and insider insights to help. Offering tax and compliance, business advisory, superannuation, smart accounting, bookkeeping and payroll, WDF are a great choice.
As stated in a client testimonial provided by Lance Carr, “Ever since using Charles and the WDF team our business has gone from strength to strength. Highly recommend WDF for accounting and business advice!”
Bush & Campbell Accountants
With a rich history that spans over a century, Bush & Campbell Accountants have built an enviable reputation servicing the Wagga Wagga community since 1913. As specialists in taxation and accounting services, the team today remain committed to the legacy of their forebearers, and the inherent principals that are the driving force behind their success.
For an expert on your side that provides practical expertise, individual attention, and close collaboration, look no further than Bush & Campbell Accountants.
As Adam Drummond states in a client testimonial, “I have been a client of Bush & Campbell for about a decade. One of the biggest benefits of having an expert like Bush & Campbell by our side has been helping us with those things that we had very little knowledge of.”
RSM Wagga Wagga
Having grown into one of Australia’s leading professional services firms, RSM Australia provides ready access to expert corporate financial advisory and accounting services. Since first opening their doors in 1992, their Wagga team have been helping the local community with accounting and tax advice, wealth management, consulting, and many business needs.
For an accountancy firm who are truly passionate about forming meaningful and collaborative relationships that drive business growth, see RSM Wagga Wagga.
As Ray Barr states in a client testimonial, “The relationship with RSM was crucial in achieving our goals. We now see the RSM team as an extension of our own, rather than as external advisers. We have a fluid relationship that is integral to our operations”.
Your experience with accountants in Wagga
Thanks to our commenters who have provided insightful feedback. If you believe we have got it wrong, please let us know.
Have you had experience with any of the accountants listed above? If so, share your feedback in the comments below.
Frequently Asked Questions
What qualifications do accountants have to have?
In Australia, to become an Accountant, you need a qualification such as Bachelor of Accounting, Master of Professional Accounting or you need to complete a Certified Practising Accountant program. A Bachelor Degree in Accounting is required to apply to an Australian professional accounting body.
How much does it cost to hire a chartered accountant?
The cost to hire a chartered accountant varies depending on the type and level of service you require. It’s best to talk to your chartered accountant to get a clear, written estimate of fees before you dive in.
What’s the best way to work with my chartered accountant?
Talk to your chartered accountant about ways to work together. Certainly it helps if you get organised and provide your chartered accountant detailed and complete information so they can get on with the job.
What qualities should I look for in a chartered accountant?
You want a chartered accountant who is going to be by your side all the way. Look for qualifications and experience, including the type of experience you need. It’s also good to have a chartered accountant who has great communications skills and can think through strategies and options with you.
How much tax will my chartered accountant save me?
A great chartered accountant believes their role is to save you as much tax as possible, within legal guidelines. The amount they’ll be able to save you very much depends on your circumstances. The bet chartered accountants will review with you how much tax they’ve saved you, and how.
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