You wouldn’t pay $200 at a restaurant without checking reviews first, so why would you spend thousands with accountants without doing the same?
In Australia, we spend much more on accounting and legal advice than on hospitality and related services every year. In hospitality, we don’t want a mediocre experience so we check online reviews first. Not so with accountants, even though they typically cost a lot more.
To illustrate this point, look at the chart below. Accounting and law are infrequent purchases, but over your life time you may spend a lot on these services. These are typically big purchases, with bigger consequences, so you must get it right.
Check their experience
Make sure they actually have experience in what you need. We help you do this by analysing the breakdown of what their reviews are in to infer where their experience lies. This is shown in the charts below.
Fixed fees trump hourly rates
Did you know you’re more likely to be satisfied with your service if you get a fixed fee? It’s because you know exactly what you’re paying upfront, giving you peace of mind. Make sure you ask your accountant for one.
Search for yourself
We’ve given you a few highlight firms here, but there are other factors you might consider, like location. To find a firm near you, use our search bar and input your location for maximum convenience.
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Main areas of practice: Tax, Financial Planning, Bookkeeeping
Addsum is headquartered in Sydney with an office in Melbourne. They have an excellent client service record for foreign investor clients.
In assessing whether they’re the right accountant for you, you should note that their main target market is foreign investors in Australia. For local small businesses and individuals there may be options that are more tailored to your needs.
Main areas of practice: Tax, Financial Planning, Audit
Prime Partners are small business specialists with a focus on practical and efficient advice. They are technology focused, being Xero Gold Partners, taking a holistic approach to help you streamline your business.
Main areas of practice: Tax, Audit
Lumina’s approach is ‘leave it to us’. They’re a premium service with top-tier expertise that allow you to outsource the management of your financial matters so you can focus on what you do best. They come at a premium price, but most of their clients are happy to pay.
Main areas of practice: Tax, Business Advice
CharterNet are a young firm with a drive for innovation and technology. Client feedback is a big focus for this firm, so you can be sure they’ll be responsive to your needs. Great option for startups to work with like-minded, entrepreneurial people.
Main areas of practice: Tax, Audit, Financial Planning
Allworths are a good option for individuals and families and small to medium enterprises. They provide a one-stop-shop likely to meet all of your needs if you fit into these categories.
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