Dental Tribune United Kingdom Edition

msc_ad_source_uk.pdf 1 03/08/2009 15:21:59 9Business ManagementUnited Kingdom Edition May 21-27, 2012 that you respect the way they op- erate that you feel some empathy with them and that you know you can trust them. There’s more to this than a brass plate and a firm handshake. In spite of their repu- tation they do have personalities. 4Sort out your questions be- fore you meet your prospective accountant, take as many as you can and ensure that they are wel- comed - you’re the client, they are the ones with the knowledge and expertise and should welcome your input. 5Do they understand your business? They don’t have to be “specialist” dental accountants but they must know and under- stand the background economy in which you are working and ap- preciate the changes that will af- fect your business. 6Make sure that you are 100 per cent open with them and that you can be trusted too. If there are any skeletons in your cupboard, or even if you think there might be, make sure they know so that there are no surprises down the track. You wouldn’t want to oper- ate in the dark, why should they? 7Sort out their fees. Cheap is not always good. How do they operate, fixed fee or hourly rate? Some accountants can’t and won’t give you a quote up front - they simply tell you what the hourly rate for whichever member(s) of staff will be involved in prepar- ing your accounts and roughly how many hours will be involved. They’ll know soon enough if you’re short of cash to pay them and will probably be proactive in helping you spread the cost, per- haps on a monthly standing order. Don’t haggle - unless you’re the sort of dentist who happily knocks their own fees down (and if you are then give me a call and I’ll put you right) then ask yourself how well disposed you are towards haggling patients. 8Can they do everything that you will want of them? Are they happy to do your tax returns? Can they do payroll? Will they produce monthly management accounts for you and the bank if required? Will they advise on incorporation and handle the process without fuss? Will they advise you regu- larly on changes in legislation that will affect you? 9How can you help them? How do they want the informa- tion from you? Will they send a bookkeeper to show you and your business manager exactly what records to keep, how they should be kept and when they should be submitted? Will they help train you? Will they show you how to prepare budgets? Remember the less work that you have to give them the better all round and the lower the bills. Files of invoices in date order and numbered to cor- respond with bank statements, cheque books make an account- ants heart glow and helps them feel far better disposed towards you than a cardboard box full of paper in no particular order. 10Timing. My own par- ticular bugbear. If your year-end is (for instance) the end of Octo- ber then your records ought to be with the accountant within a fortnightoftheyear-end.They,for their part should have written and let you know that your books are expected, that there is time put aside for the work and who from the firm will be dealing with it. You need to know your tax bill well in advance to be prepared. It’s not what you earn that matters, it’s what you keep that counts, and for that a good ac- countant is essential. DT About the author Alun Rees trained at Newcastle Uni- versity and started his career as an oral surgery resident, before working as an associate in a range of different practices. With this solid foundation, Alun went on to launch two prac- tices in the space of just 15 months, a challenge in the toughest economic conditions. After years of hard work Alun finally sold his award-winning business in 2005. Alun’s background and experience give him a strong un- derstanding of what others go through to build a successful practice. He has seen many different approaches and learned his own lessons in the real world. Alun now runs Dental Business Partners to offer specific and special- ised support for dentists, by dentists. He has served as a media representa- tive for both the BDA and BDHF and is an authority consulted by the media and has featured on BBC2, Sky TV and various radio stations. www.dentalbusinesspartners.co.uk alun@dentalbusinesspartners.co.uk For more information email Alun at alunrees@mac.com, or alternatively call 07778 148583 or 01242 511927