Working with an accountant for the first time

Working with an accountant for the first time

Have you made your first foray into #bizlyfe?

It's an exciting time! I'm genuinely excited for you. I love business, and I love people who take that leap into business ownership because you're creating something for the world and it's super inspirational.

I always say get an accountant on board ASAP. We're your wingpeople for when you start dealing with things you likely don't want to deal with like taxes. Having an accountant early on means you can set up correctly from the get-go to make your journey through business finances, admin and taxes smooth sailing.

I know accountants have an odd reputation (we're working on it!). We're not all stiff, mumbly, grumpy old men with glasses who sit behind a desk and tell you off for spending money. But despite the vast range of people who are accountants, there are some common themes in what it's like working with us.

Have a - lighthearted - read through on What to Expect When Working with an Accountant for the First Time.

1. The Language Barrier

You may find yourself in a conversation that sounds like it’s straight out of a sci-fi movie. Terms like “depreciation,” “amortisation,” and “double-entry bookkeeping” might leave you feeling like you need a translator. Don’t worry! Just nod and smile, and maybe throw in a “oh wow!” here and there. Eventually, you’ll learn that “depreciation” doesn’t mean your accountant is having a bad day.

Author note: We endeavour to make sure you never feel like you need a translator, plain English is our first language!

2. The Paperwork Avalanche

Prepare yourself for a mountain of paperwork that could rival the height of Everest. Your accountant will likely ask for everything from bank statements to receipts for that coffee machine you bought for the home office in 2024 (you know, the one that was definitely a business expense). Pro tip: Start a filing system now, or you might find yourself buried under a pile of receipts that could qualify for their own post code.

Author note: Actual paper is yuck and we will help you with compiling and filing your business financial docs easily

3. The “Fun” Budget Meetings

Budget meetings with your accountant can be a real rollercoaster ride. One moment you’re excitedly talking about projected revenue, and the next, you’re confronted with the cold, hard truth about your business spending habits and upcoming taxes. Spoiler alert: That impulse buy of a neon sign for your office might not have been the best investment before a big tax payment date. But hey, at least it looks cool!
Author note: We make sure taxes are never a surprise so you know when you can buy cool shit for your office

4. The Tax Time Tango

Tax season is like a dance-off between you and your accountant. They lead, you follow, and sometimes you step on each other’s toes. Your accountant will guide you through the intricacies of deductions and tax credits, but be prepared for some awkward moments when they remind you that “no, you cannot deduct your cat as a business expense, even if it helps with stress relief.”

Author note: We will 💯 be the first to tell you if IRD ever decides to change the law on pets being non-deductible as that will be one of our expenses too

5. The Financial Wisdom

Amidst the laughter and the paperwork, your accountant will share invaluable financial wisdom that could save your business. They’ll help you understand cash flow, budgeting, and the importance of keeping your personal and business finances separate (yes, that means no more using your business account to buy that new gaming console).
Author note: We don't just deal with historical stuff and taxes, we want to work with you and your business to help you flourish and life your best business owner life

Final Thoughts

Working with an accountant for the first time is an experience filled with learning, laughter, and maybe a few tears (of joy or frustration, who knows?). Embrace the process, ask questions, and don’t forget to appreciate the expertise we can bring to your business.

Think of finding the right one as being your "business bestie".