Simply Business

Have a Personal Relationship with Your Accountant

Accountant in Salt Lake CityMany business owners just dive right in without a thorough understanding of what they should do with relationships. It is tempting to do just that when you have an idea, a way to raise the money you need, and a place to open shop. Remember, however, that you won’t be alone in running your small business. Like it or not, you will have relationships.

Handling Professional Relationship

You may be thinking that if you handle your customers, that’s all the relationship understanding that you need. You could be making a serious mistake in thinking that’s the only relationship that matters. You’ll have suppliers, employees, and other professional vendors.

If you think your professional relationship with these people is enough, you may not be able to have a lasting kind of relationship with them. To avoid that, make it a personal connection. Know these people personally so you will understand what they do for you and what you do for them, and manage expectations. They will be there to help you if you encounter problems in running your business; that is if you have a personal relationship with them.

Your CPA in Salt Lake City is one of those professionals with whom you have a deep and lasting relationship. Your accountant’s functions may coincide with your lawyer as well, but if you have a rapport with them, they can work together to make your needs possible and easy.

Your accountant should give you the following services:

  • Decide on the type of entity and ownership structure of your business before you build it
  • Design your accounting system to make it easier
  • Ensure which taxes you pay
  • Separate your business and personal expenses
  • Design your payroll system
  • Help you compile and understand your financial records and reports
  • Help you through an audit

Your accountant will work with you on many other things not included in the list above. The better your relationship with them, the more you’ll understand how they help your business succeed.