Do I need a commercial adviser if I already have an accountant?
An accountant keeps your records, prepares your accounts and tax returns and reports on what has already happened. A commercial adviser uses the same numbers to look forward, at pricing, margins, sales conversion and what to change first. You keep your accountant.
By Ricardo C. Johnson. . General information, not financial, tax or legal advice.
What your accountant does
Your accountant prepares statutory accounts and tax returns and keeps you compliant. The numbers are accurate and filed on time. That work is essential and it is not what a commercial review replaces.
What a commercial adviser does
I work from the same figures and ask different questions. Which work makes money and which does not. Whether prices have kept pace with costs. Where enquiries and quotations are lost. Which three to five actions to take in the next 90 days, and what each is worth.
I am not an accountant. I hold a BA (Hons) in Accounting and Finance and have run the finance function of my own property group since 2017. I do not prepare statutory accounts or tax returns, and I do not act as your auditor.
How the two work together
I work alongside your accountant and use their numbers. If a decision needs tax or accounting advice, such as how a change in pricing or structure affects your tax position, that question goes to your accountant.
A useful starting point is a short list of questions to put to your accountant before your year end. There is a free two-page list on this site.
Related questions
Will you take over from my accountant?
No. Your accountant keeps doing your accounts and tax returns. I work alongside them.
Do you provide bookkeeping?
No. Bookkeeping is not included in any service.
Are you a chartered accountant?
No. I am a commercial adviser with a degree in Accounting and Finance. I do not prepare statutory accounts or tax returns.