Professionals in your line of business are typically busy with other matters. This means you are likely to have less time to deal with your accounting and bookkeeping. To save on overhead costs, you may want to consider outsourcing those matters to qualified media accountants. These specialised accountants can give you the peace of mind you deserve, while serving as your personal financial advisor. Here are a few tips to help you find and hire the right accountants for your film and creative agency:
- Know what they do – Apart from covering the basics (i.e. bookkeeping, VAT returns, payroll, cashflow forecast, and management accounts), they should be able to provide advice on how to grow your business, and recommend and implement an accounting system that can provide accurate information.
Make sure they are chartered accountants – Verify their credentials and expertise in media accounting. Consider media accountants with a proven track record in helping similar businesses.
- Connections – Choose accountants with a lot of connections in and outside the media, including solicitors and lenders. This makes them more competitive and reliable when giving you legal advice or helping you seek funding for your projects.
- Choose experts who can do more for you – Look for media accountants that can cover all financial services you may need, such as tax advice, international taxation, and helping you find funding for your projects. Some accountants are also qualified to give you advice as you set up your business, so you can pick the right business structure. Likewise, their input can help you decide whether to accept certain projects based on factors like funding, reputation, taxation and feasibility.
- Look for a guarantee – It is crucial for your media accountant to give high-quality advice, while considering your business objectives, attitudes toward risk, your values, and unique circumstances. Make sure they provide fair, transparent, and simple pricing and that they are responsive, and keep you updated with all matters.
- Schedule a consultation – Some media accountants offer a no-obligation consultation to help you get started in making an informed decision to hire them.