Even the best entrepreneurs fall into these traps... The good news is that they are preventable. Here is an ultra-concrete checklist to strengthen your collaboration with your accountant, avoid costly mistakes, and regain control over your management (and choose the right tools with the most used accounting software in Quebec).
Do you think your accountant "manages everything"? Do you validate his requests without looking too much? Don't you dare to ask questions?
You're not alone. These mistakes are frequent... but not a fatality.
With this checklist, you will:
Ready? We roll out the checklist 👇
"I pay an accountant, so he takes care of everything."
False. Your accountant needs your input to do his job properly.
A good accountant can only process what you give him. If there are missing invoices, contracts, receipts... The file is incomplete. And you risk mistakes or penalties.
What you can do:
To sign without reading is to sign blindly. Even if you trust your accountant, you are still legally responsible.
An incorrect VAT/GST-QST, an incomplete tax registration (see the GST/QST registration guide), an incorrect figure on your balance sheet, an oversight of the SAR... These small mistakes can be very costly in the long run (and result in an unpleasant notice of assessment ).
What you can do:
"I don't want to disturb..."
You're not supposed to be a chartered accountant. It's normal not to understand everything.
A good accountant must be able to clearly explain accounting figures and decisions. And when you need a tax professional, understanding the difference between roles is helpful (and don't hesitate to find the right tax professional if needed for your tax planning).
What you can do:
Delay is the enemy of quality. And tax compliance.
Your accountant needs time to get it right. Sending your documents the day before a deadline means exposing yourself to errors or penalties. Anticipate your year-end and don't wait until the last moment for your GST/QST instalments.
What you can do:
An invoice by email, another by paper, a third on WhatsApp? Your accountant can't keep up.
Centralized archiving is essential for clean accounting (and respects mandatory document retention deadlines).
What you can do:
Are you planning to be hired? Are you going to create a subsidiary? Talk about it before you do it.
Your accountant can help you anticipate the fiscal, social or financial impacts.
But he must be aware (also think of subjects such as tax registration, incorporation or the corporation).
What you can do:
It's not because you delegate that you have to give up everything.
A quick monthly reading of your accounts helps to avoid errors and oversights (and to optimise your costs thanks to the full cost method or the ABC method).
What you can do:
If your margin drops or your bottom line drops, it may be time to investigate.
Your accountant is there to help you analyze, understand, and optimize. Think about the combination of accounting + taxation, the method of analysis centres and your level of solvency.
What you can do:
You pay for a service: it is normal to understand what you are buying.
Sometimes services are charged additionally, or certain services are not included in the package.
What you can do:
An accountant is not just a supplier. It is a strategic partner.
The more transparent, organized and communicative you are... the more he will be able to help you.
What you can do:
At Bankeo, we believe that accounting should never be a source of stress.
Our mission: to help you avoid pitfalls, regain control and build a smooth collaboration with your accountant (or ours 😉). To go further, also discover our guide to finding the ideal accountant, our chartered accountant guide and how to find the right pro for your business taxes online. Need an accountant in Montreal or Quebec City ?
👉 Do you want us to go through this checklist together?
Write to us!
Whether it's filling out the form or talking to our team, we'll get to know you, your business, and the type of bookkeeper you're looking for.
Our solution will find you the 3 accounting specialists that best suit your needs and will contact you at the desired time.
100% free and without obligation, our team will accompany you to ensure the best possible connection with your ideal accountant.
Your request will be processed within a maximum of 48 working hours.
