Sometimes anything finance can be a bit overwhelming, including meetings with your accountant. How will I know what to say? Will I understand what they tell me? How do I make sure I don’t sound silly? These are all normal questions and knowing where to start in your meetings with an accountant can be difficult to know. 

We want to share 3 questions that we believe every person should ask their accountant. These questions will help put you in the right direction, and help to gain understanding and clarity about your businesses finances. 

If you’re contemplating working with an accountant but aren’t sure where to start, let these questions guide the way. 

What is my break even point? 

This is the point at which the amount of your sales is greater than the cost of creating the product or providing the service was. Though this may seem like it should be an obvious number to calculate, it can be difficult when you take into account different costs that are fixed or variable. When you can have an informed and accurate break even point, you’re able to understand how much you need to sell, what price things need to be sold at, and even if an idea is viable. 

How do my financial results look? 

An accountant has experience and knowledge that you’ve often never had access to before. They work across different industries and businesses every day. This means that they can act as a comparison, they can offer insights into the health of your business financially. 

What value can you help me create in my business?

When you have a trusted partner in finances, you are in a unique opportunity to grow your business more efficiently and in alignment with your goals.

An accountant has a unique perspective and technical skillset for you to base your decision-making on. From tax concessions to business structuring to forecasting for growth, rely on their ability to give you strategic advice on what’s possible for you and your business.

Sometimes all you need to know is what to ask. If you’re on the verge of working with an accountant, we highly recommend it as they can help to take your business to the next level. Having support in an area that is typically a little more confusing than others, can alleviate you of stress, give back your time, and help afford more understanding about your business.