The Most Common Mistakes with an Accountant – And How to Avoid Them

Even the best entrepreneurs fall into these traps... Good news: they're totally avoidable. Here's a super practical checklist to boost your teamwork with your accountant, dodge expensive mistakes, and get back in control of your business management (and pick the right tools with the most popular accounting software in Quebec).

🧩 What you'll discover in this checklist

Think your accountant 'handles everything'? Just approve their requests without really checking? Afraid to ask questions?

You're not alone. These mistakes are common… but they're not set in stone.
With this checklist, you'll:

• Understand the most common pitfalls
• Figure out what you can actually do (like structuring your chart of accounts)
• Building a good, proactive relationship with your accountant

Ready? Let's check out the checklist 👇

📋 The complete checklist to avoid mistakes with your accountant

1. 🤔 Thinking “your accountant will handle everything”

“I pay an accountant, so they take care of everything.”
Wrong. Your accountant needs your input to do their job properly.

A good accountant can only work with what you give them. If invoices, contracts, or receipts are missing... the file is incomplete. And that means you could face errors or penalties.

Here's what you can do:

• Set up a weekly routine to send them all your documents
• Use an automatic bank sync tool (e.g., QuickBooks, Xero, FreshBooks, Zoho Books, Wave, Odoo)
• Share a cloud folder (Google Drive, Dropbox, Notion) and a structure inspired by this record-keeping guide
• If you need to, delegate your bookkeeping to stay consistent and accurate

2. 🛑 Not checking what's submitted

Signing without reading is like signing blind. Even if you trust your accountant, you're still legally responsible.

An incorrectly declared GST/QST, an incomplete tax registration (see the GST/QST registration guide), a wrong number on your balance sheet, forgetting source deductions... These small mistakes can cost you a lot in the long run (and lead to an unpleasant notice of assessment).

Here's what you can do:

• Ask for a simpler version with just the key numbers before you sign
• Take 15 minutes each month to read through and understand the documents (and check your chart of accounts structure)
• Don't be afraid to ask questions if something doesn't make sense
• Check if you're in a compilation engagement/notice to reader and understand what that means

3. 🗣 Never asking questions

“I don’t want to bother them…”
You're not expected to be an accounting expert. It's totally normal not to get everything.

A good accountant should be able to clearly explain the numbers and accounting decisions. And if you need a tax specialist, it helps to understand the difference between their roles (and don't hesitate to find the right tax specialist if you need help with your tax planning).

Here's what you can do:

• Jot down your questions as they pop up
• Suggest a 30-min chat every quarter (and check out this guide for effective meetings)
• Use a quick communication channel (Notion, WhatsApp...)

4. 📅 Being late with your documents

Being late isn't just bad for quality, it's bad for your taxes too.

Your accountant needs enough time to do things properly. If you send your documents the day before a deadline, you're setting yourself up for mistakes or penalties. Get a head start on your fiscal year-end and don't wait until the last minute for your GST/QST installment payments.

Here's what you can do:

• Put a recurring reminder in your calendar (like for the 1st of every month).
• Use a tool like Indy, Pennylane, or Sage to automate stuff.
• Give your accountant access to your business bank account if it's helpful, and keep an eye on your cash flow.
• Get all the documents ready for the compilation engagement ahead of time.

5. 📂 Having documents all over the place.

An invoice by email, another on paper, and a third on WhatsApp? Your accountant can't keep up.

Having all your documents stored in one place is key for tidy accounting (and helps you stick to the required document retention periods).

Here's what you can do:

• Organize your documents in a shared folder, structured by month (check out our record-keeping guide).
• Try a scanning tool with automatic recognition (like Scanbot).
• Try not to send documents randomly through different channels.

6. 💬 Not telling your accountant about your plans.

Thinking about hiring someone? Or starting a new branch? Talk about it before you actually do it.

Your accountant can help you figure out the tax, social, or financial effects.
But they need to be in the loop (also think about things like registering for taxes, incorporating your business, or setting up a corporation).

Here's what you can do:

• Tell them right away if you're planning a big change (like hiring someone and dealing with taxable benefits).
• Set up a strategic chat every 6 months to talk about tax optimization (like salaries vs. dividends).
• Share your budget forecasts and goals with them.

7. 🕵️‍♂️ Not checking your accounts at all.

Just because you delegate doesn't mean you should completely let go.

A quick monthly check of your accounts can help you catch mistakes and forgotten items (and even save you money by using the full costing method or the ABC method).

Here's what you can do:

• Learn how to read an income statement (and find out the difference between cash and accrual accounting).
• Keep an eye on your sales and cash flow month by month.
• Look out for anything that doesn't look right or unusual expenses.

8. 📉 Not questioning the numbers.

If your profit margin drops or your results take a hit, it might be time to look into it.

Your accountant is there to help you analyze, understand, and optimize. Think about the accounting + tax combo, the cost center method, and your solvency level.

Here's what you can do:

• Ask for an analysis of your results and ideas for improvement (e.g., invoicing, costs, pricing).
• Follow a monthly dashboard.
• Figure out your most profitable products/services (using management accounting).

9. 💸 Not checking fees

You're paying for a service, so it's normal to understand what you're getting.

Sometimes, extra services are billed, or certain things aren't included in the package.

Here's what you can do:

• Ask for a breakdown of the services included in your contract (here are our accounting services).
• Check your fee invoices at least once a year and review what your accountant actually does.
• Compare with other firms if needed (use Find Your Accountant).
• Check out the market with this guide on the cost of accountant services in Quebec (and, if needed, add a corporate tax report service).

10. 🧱 Not building a real relationship

An accountant isn't just a supplier. They're a strategic partner.

The more transparent, organized, and communicative you are… the more they can help you.

Here's what you can do:

• Chat regularly, not just at year-end.
• Give them feedback on what's working (or not).
• Share your vision and priorities (set SMART goals).

💬 Want to go through this checklist together?

At Bankeo, we believe accounting should never be a source of stress.
Our mission: to help you avoid pitfalls, take back control, and build a smooth collaboration with your accountant (or ours 😉). To dive deeper, check out our guide to finding the ideal accountant, our chartered accountant guide, and how to find the right pro for your online business taxes. Need an accountant in Montreal or Quebec City?

👉 Want to go through this checklist together?
Write to us!

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