Can any recommend an accountant

icanmunch

Hi All,

I’m looking to setup as a sole trader and was hoping someone could recommend an accountant they have used?


Thanks

Gloomtastic!

Mod Hat On: Whereabouts are you based? You might get a better response if you post this in one of the regional threads. Just let me know and I'll move this thread to wherever.

https://www.boards.ie/vbulletin/forumdisplay.php?f=77

Mod Hat Off: I would suggest you speak to at least three accountants before deciding on one. Establish before meeting any of them that the initial meeting is free.

As a sole trader, the accounts side of the business is pretty simple - revenue minus expenses equals income.

There are now free/very inexpensive Apps out there that will do most of the accounts work for you, keep records of receipts, issue invoices, calculate VAT Returns etc. Ask each accountant what experience they have working with these Apps. How can they help you set up the processes involved? As a sole trader using one of the Apps, there should be no need to employ an accountant as a ongoing bookkeeping service.

If they don't have any experience with any App then just walk away. Why should you be paying for an antiquated service provider? :mad:

You will need them to complete at least your first year tax return. Ask them how much they will charge you for that. Ask what info they'll require from you and can they access all that from your App. Your tax return will take them about 20 minutes to complete online so make sure they price their service accordingly (they used to try charging €400 + VAT for a tax return). :mad::mad:

Good luck to you. If you have any further questions, just post on here.

davindub

Gloomtastic! wrote: »

Mod Hat On: Whereabouts are you based? You might get a better response if you post this in one of the regional threads. Just let me know and I'll move this thread to wherever.

https://www.boards.ie/vbulletin/forumdisplay.php?f=77

Mod Hat Off: I would suggest you speak to at least three accountants before deciding on one. Establish before meeting any of them that the initial meeting is free.

As a sole trader, the accounts side of the business is pretty simple - revenue minus expenses equals income.

There are now free/very inexpensive Apps out there that will do most of the accounts work for you, keep records of receipts, issue invoices, calculate VAT Returns etc. Ask each accountant what experience they have working with these Apps. How can they help you set up the processes involved? As a sole trader using one of the Apps, there should be no need to employ an accountant as a ongoing bookkeeping service.

If they don't have any experience with any App then just walk away. Why should you be paying for an antiquated service provider? :mad:

You will need them to complete at least your first year tax return. Ask them how much they will charge you for that. Ask what info they'll require from you and can they access all that from your App. Your tax return will take them about 20 minutes to complete online so make sure they price their service accordingly (they used to try charging €400 + VAT for a tax return). :mad::mad:

Good luck to you. If you have any further questions, just post on here.

Bit of a rant there...

Apps/ etc are only as good as the person using them. Hence an accountant will have to review what is in the apps and the supporting documents. Most apps are web based and slow to navigate through images of receipts.

Just one of many things you haven't given credit to your accountant for doing before filing your tax return.

400 would be too cheap for any set of accounts imo, if you have a chartered accountant happy to do a set of accounts and file for this amount, you can imagine they are cutting corners somewhere.

Gloomtastic!

The writing's on the wall for all of the professions I'm afraid, they are being replaced by software. We're talking about a sole trader's accounts here, not Denis O'Brien's tax affairs.

If you were familiar with some of the Apps available, you'll see the ability to make a mistake is very slim, thus negating the need to check anything. And speed of access to receipts is totally irrelevant.

The day I discovered that my accountant was charging me €400 + VAT for something I could do myself in 20 minutes was a real eye opener. Instead of trying to justify the absurdity of your charges, if you read my post you'll see where you could possibly make yourself useful to the business community.

Change or die! :rolleyes:

davindub

Gloomtastic! wrote: »

The writing's on the wall for all of the professions I'm afraid, they are being replaced by software. We're talking about a sole trader's accounts here, not Denis O'Brien's tax affairs.

If you were familiar with some of the Apps available, you'll see the ability to make a mistake is very slim, thus negating the need to check anything. And speed of access to receipts is totally irrelevant.

The day I discovered that my accountant was charging me €400 + VAT for something I could do myself in 20 minutes was a real eye opener. Instead of trying to justify the absurdity of your charges, if you read my post you'll see where you could possibly make yourself useful to the business community.

Change or die! :rolleyes:

I actually am familiar with the more common apps and the underlying paperwork still needs to be checked, the ocr is good but not perfected.

There isn't any software that will stop someone from uploading invoices receipts from pharmacists, restaurants, travel, doctors appointments, etc. All of which are typical of small accounts. I.e. vat inputs claimed.& claimed as expenses in p&l.

But I suppose the mantra can be "my tax Bill's are consistently lower with ABC app, what was my accountant doing?"😎

pgj2015

When I started in business a few years ago, I was charged 600 euro by my accountants, which was a rip off as i started the business in July. another chancer gave me a quote of 1,400.

The accountant I use now is 250 euro all in. I studied finance and accounting in college as part of a business degree course but I have always hated the subject so 250 euro is very reasonable to me, i don't want the headache of dealing with revenue. I keep good records and add the income and expenditure up etc but then I hand the figures over to my accountant.

if I ever have any other issues I ring my accountant and he deals with it, I find him very knowledgeable unlike other accountants I interviewed about doing my books in the past.

Irishphotodesk

icanmunch wrote: »

Hi All,

I’m looking to setup as a sole trader and was hoping someone could recommend an accountant they have used?


Thanks

Quite a difficult thing for people to do when they do not know what industry you are hoping to operate in.

I pay 750+VAT for my income tax (annually) and vat to be done (monthly), I can either drop the receipts/bank statements to the office or I can send pics of them.

I'm happy that I do not have to think about that side of the business. It is possible to do it myself, but I think the security of a different set of eyes (one with experience) makes me feel like I can concentrate on doing the work.