Accounting questions for a new a client
Here are some common accounting questions that a new client may have:
Financial Statements
- What financial statements will you provide to me, and how often will they be updated?
- Can you explain the differences between a balance sheet, income statement, and cash flow statement?
- How will you ensure that my financial statements are accurate and compliant with relevant accounting standards?
Bookkeeping and Record-Keeping
- How will you keep track of my financial transactions, and what systems will you use to do so?
- Will you provide me with a detailed breakdown of my income and expenses, and how will you categorize them?
- How will you handle accounts payable and accounts receivable, and what procedures will you put in place to ensure timely payment?
Tax Compliance
- How will you ensure that I am in compliance with all relevant tax laws and regulations?
- Will you prepare and file my tax returns, and if so, what is the process for doing so?
- How will you handle any tax audits or disputes that may arise?
Budgeting and Forecasting
- How will you help me create a budget that aligns with my business goals and objectives?
- Can you provide guidance on how to forecast my financial performance, and what factors should I consider when doing so?
- How will you help me identify areas for cost savings and efficiency improvements?
Financial Analysis and Reporting
- How will you provide me with financial analysis and reporting that is relevant and actionable?
- Can you explain the key performance indicators (KPIs) that you will use to measure my financial performance?
- How will you help me identify trends and patterns in my financial data, and what insights can you provide from that analysis?
Client Communication
- How will you communicate with me about my financial matters, and what frequency can I expect for updates?
- Can you explain the process for requesting additional information or clarification on any financial matters?
- How will you ensure that I am informed and involved in all financial decisions that affect my business?
Fees and Services
- What are your fees, and how will you charge me for your services?
- What services are included in your fees, and what additional services may be available at an extra cost?
- 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.