Who you work with as an accountant is an important choice to make as you grow your business. The advice they give and the expertise that they draw on to help draft your compliance and growth plans will drastically affect your business as you grow. That is why this choice shouldn’t be taken lightly.
Santa from Accounting Preneur says “One of the decisions you will need to make when you choose your accountant is whether or not you want to work with a virtual or in-person professional.” How do you know which is the right choice for you? By taking into account the pros and cons of each format, you should be able to determine what is the right choice for you and your business at this stage of the game. What should you consider when making this choice?
Virtual Consultations
Pros
- Convenience: From the safety and comfort of your home, you can discuss the intimate details of your business finances with a professional in a matter of minutes. That is very convenient.
- Flexibility: Working with digital professionals typically opens you up to a broader range of availability and hours.
- Cost Savings: No office means less overhead, which often makes its way to the customer through lower costs.
- Seamless Digital Document Sharing: The advent of digital document-sharing platforms has made dealing with documents a breeze.
- Reach: With a virtual consultation, you may have access to a larger pool of qualified professionals and a wider range of expert opinions.
Cons
- Personal Connection: Some people prefer to shake hands and meet others eye to eye to get a feel for who they are. You cannot do that as well with a virtual accountant.
- Digital Connection: Connectivity issues can be concerning, particularly if you have pressing matters that need to be dealt with.
- Security Concerns: Not all digital platforms are completely secure and may be vulnerable to attacks from the outside.
In-Person Consultations
Pros
- Better for Complexity: Complex situations and problems are sometimes best dealt with in person because there is a synergistic energy that comes from working together that is missing with a digital accountant.
- Personal Connection: Getting to know your accountant face-to-face can help you build trust and rapport, which is important for business relationships.
- Better Communication: Much can be lost in translation when speaking over a video call and being in front of another human can alleviate this almost completely.
- More Focused Time: Sitting together and working with no distractions is significantly more productive than being interrupted multiple times, which can happen easily on a video call.
- Security: In-person meetings are difficult to sabotage or infiltrate without being noticed.
Cons
- Scheduling: Having two people meet in person means juggling calendars and appointments, which can be tedious.
- Time-Consuming: Meeting in person takes more time than virtual meetings because of the travel time to get to and from the meeting itself.
- Higher Costs: Meeting in offices and coffee shops increases the cost of each meeting, which inevitably affects your bottom line.
How to Decide on Virtual or In-Person Meetings
In the end, the choice comes down to personal preference. Each type of accountant service, whether it be virtual or in-person, comes with its own unique benefits and disadvantages. Review your requirements for an accountant and what you would like to experience from them and make the best decision for your personal and business situation.