Accounting questions for a new a client

Here are some common accounting questions that a new client may have:

Financial Statements

  1. What financial statements will you provide to me, and how often will they be updated?
  2. Can you explain the differences between a balance sheet, income statement, and cash flow statement?
  3. How will you ensure that my financial statements are accurate and compliant with relevant accounting standards?

Bookkeeping and Record-Keeping

  1. How will you keep track of my financial transactions, and what systems will you use to do so?
  2. Will you provide me with a detailed breakdown of my income and expenses, and how will you categorize them?
  3. How will you handle accounts payable and accounts receivable, and what procedures will you put in place to ensure timely payment?

Tax Compliance

  1. How will you ensure that I am in compliance with all relevant tax laws and regulations?
  2. Will you prepare and file my tax returns, and if so, what is the process for doing so?
  3. How will you handle any tax audits or disputes that may arise?

Budgeting and Forecasting

  1. How will you help me create a budget that aligns with my business goals and objectives?
  2. Can you provide guidance on how to forecast my financial performance, and what factors should I consider when doing so?
  3. How will you help me identify areas for cost savings and efficiency improvements?

Financial Analysis and Reporting

  1. How will you provide me with financial analysis and reporting that is relevant and actionable?
  2. Can you explain the key performance indicators (KPIs) that you will use to measure my financial performance?
  3. How will you help me identify trends and patterns in my financial data, and what insights can you provide from that analysis?

Client Communication

  1. How will you communicate with me about my financial matters, and what frequency can I expect for updates?
  2. Can you explain the process for requesting additional information or clarification on any financial matters?
  3. How will you ensure that I am informed and involved in all financial decisions that affect my business?

Fees and Services

  1. What are your fees, and how will you charge me for your services?
  2. What services are included in your fees, and what additional services may be available at an extra cost?
  3. How will you ensure that I am getting the most value from your services, and what steps will you take to address any concerns I may have?

These questions can help you understand the client's needs and expectations, and ensure that you are providing the right level of service and support to meet those needs.