As a c-store owner, your mind is probably always thinking about the next products that you should offer, the advertising you should invest in for your store, and above all else, the cost of everything.
It can be a stressful job running a c-store and the more locations you have, the more stress that you’ll have. One of the best ways to eliminate at least a little bit of your stress is to take one element out of the equation: worrying about the financials of the business.
We know you’ve worked hard to build up your convenience store from the ground-up and the idea of outsourcing one of the most crucial elements of the business can feel like handing the keys of your car to someone else.
The fact is, accountants provide a valuable service that every business should take advantage of. Whether you already have an accountant working for you, you're in the market to hire one, or you have no desire to have someone else go over your books, here are a few of the things that make for a successful relationship with an accountant.
They Keep You in the Loop
Whether you meet with them on a weekly, monthly, or (hopefully not) yearly basis, your accountant should be able to explain the complicated inner-workings of your business financials in an easy to understand way. They should be able to provide you with detailed reports and summarize how well your business is doing.
The last thing you want is an accountant that doesn’t keep you in the loop. Because you are the ultimate decision maker, you want to understand the facts of your finances fully before making big decisions.
They Keep Detailed Records
Since they’re the ones that will be crunching the numbers for your business, you want to know they’re are organized and can catch the smallest discrepancies in your financials. Whenever you have a question, they should be able to point to the exact spreadsheet that contains the value you’re seeking. The last thing you want when tax time comes around is your accountant to be scrambling to find the records for your filings.
They Follow Tax Codes
Every accountant worth their salt will keep your books squeaky clean so in the off chance that the IRS comes knocking, you can provide them with receipts, books, and other records to prove that your tax filings are 100% accurate. Additionally, a good accountant will be able to know the different deductions and tax loopholes you might be able to qualify for to help you save some money on your taxes for the year.
They Are Easy to Work With
This is may be the most crucial aspect of a successful relationship with an accountant. In this relationship, the accountant is an extension of your company and a partner in your success. If you do well, they do well. If they do their job right, your business will see the benefits as well. If you've ever had a coworker that you just didn't get along with, you know how hard it is to achieve your goals. Make sure they are friendly, helpful, and most importantly successful in their efforts and you could have a beneficial relationship for years to come.