If you are unhappy with your accountant, their fee may be a poor benchmark for the support you actually need.

Perhaps answers take too long, advice arrives after decisions, or your accounts leave you unsure what the business can afford.

A new proposal should address those gaps. Compare what will happen throughout the year, alongside the price.

To compare accountant fees, check the work included, regular contact, advice and follow-up. Understand additional charges and what the accountant needs from you.

How to compare accountant fees and proposals

Ask what will actually happen throughout the year. Useful questions include:

• Services: Are bookkeeping, VAT, payroll, annual accounts and tax returns included where you need them?
• Regular reviews: Will you receive management accounts, and how often will someone discuss them with you?
• Advice: Does the arrangement include help with upcoming business decisions, or is that charged separately?
• Contact: Who will you deal with, and what response times can you reasonably expect?
• Follow-up: How will recommendations, agreed actions and progress be reviewed?
• Total cost: What will you pay over a full year? Is VAT additional? Are software, setup work or other charges excluded? When can fees change?

Check the proposal alongside the engagement terms, including the length of the agreement and notice requirements. Ask for clarification wherever the scope is unclear.

If a proposal promises “proactive advice”, ask what happens when the accountant spots a cash shortfall or a fall in profit. Who contacts you, what will they explain and how will they help you assess your options?

What useful advice looks like before a decision

In a recent conversation, a business owner described paying for labour every week while waiting several weeks for some customers to pay. That gap made it harder to build the cash reserves needed for expansion.

The question was how to fund more work while covering the costs before customers paid. Taking on another job could increase sales while putting more pressure on cash.

Useful support would forecast when money is expected to arrive, when labour and other costs must be paid, and how extra work changes the gap. It would also explore payment terms and the effect of customers paying late.

That gives the owner a basis for assessing growth plans and any funding needed. An annual profit figure alone cannot answer those questions.

That is a practical reason to seek cash flow management support. The advice needs to arrive while it can still influence your decision.

How to judge whether the fee is worth it

You should question the price. When I explain our fee, I expect to be clear about the work included, how it addresses your priorities and what we need from you.

Paying more does not automatically mean receiving better advice. Equally, a similar monthly fee does not mean two proposals include the same work.

For example, receiving a monthly report is one service. Having someone discuss the results, investigate concerns and help you assess your next steps involves further work.

Ask how the advice will help with a decision you actually face. Understand what is included and what costs extra.

Choose support you will use and can afford. Advice has limited value if you never make time to act on it.

A successful relationship needs commitment from both sides

An accountant can bring analysis, recommendations and constructive challenge. You bring your knowledge of customers, staff, operations and what you want the business to achieve.

You also need to share accurate information promptly, make time for discussions and act on the decisions you agree. The accountant should explain what is needed, bring clear advice and follow up as agreed. You remain responsible for running the business and making its decisions.

We want to work with owners who value that relationship and make time to act on advice. Agree who is responsible for each next step.

What do you wish your accountant helped you with

Before comparing another quote, write down the three things you most want to change. They might be quicker answers, clearer cash forecasts or a regular conversation about performance.

Ask each accountant how they would address those priorities. Their answer should help you judge the fit as well as the fee.

At Money Fitness Accounting, we work with owner-managed businesses in Gloucester and across England and Wales. Alongside compliance services, our Virtual Finance Director support helps owners understand performance and assess important decisions.

If you want an accountant involved in helping you build a better business, speak to our team. Start by telling us what you wish your current accountant helped you with.