SME accounting should do more than produce annual figures after the decisions have already been made. An Irish business may need a combination of accurate bookkeeping, VAT and payroll processes, annual accounts, Corporation Tax compliance, management reporting and practical advice. The right scope depends on the company’s size, systems, deadlines and plans.
Find My Accountant is an independent information and enquiry service. It is not an accountancy practice. With your consent, an enquiry may be sent to one participating accountant serving your business area.
What can SME accounting include?
| Service | What it supports | Questions to ask |
|---|---|---|
| Bookkeeping and reconciliations | Reliable records and current balances | How often are bank, card, debtor and creditor balances reconciled? |
| VAT and payroll | Periodic calculations, approvals and filings | Who prepares, reviews and approves each return? |
| Annual accounts and CT1 | Financial statements and Corporation Tax compliance | When will preparation begin and what information is required? |
| Management accounts | Timely profit, margin, cash and balance-sheet information | Which reports will management receive and how often? |
| Cash-flow and advisory support | Decisions on funding, hiring, pricing and investment | Who provides advice and what work is outside the fixed scope? |
Which businesses may need broader support?
A limited company with employees, VAT, finance facilities, several owners or growth plans will usually need clearer oversight than a small business with straightforward records. Complexity also increases where there are multiple bank accounts, online payment platforms, stock, cross-border trade, grants, property, director loans or a backlog.
The business should retain control of its records and software even when work is outsourced. Agree named users, administrator rights, backup arrangements and a regular record-delivery timetable.
Bookkeeper, accountant—or both?
A bookkeeper may manage transaction processing and reconciliations. An accountant may take responsibility for year-end accounts, tax compliance, review and advice. Many SMEs need both roles working to an agreed monthly process. Read the full bookkeeper or accountant comparison.
If the present relationship is no longer working, use the seven-step guide to changing accountant. If filings are already behind, begin with the overdue company accounts recovery plan.
What should you prepare before making an enquiry?
- legal structure, financial year-end and principal activity;
- approximate turnover, employee numbers and transaction volume;
- VAT, payroll and other tax registrations;
- accounting and payroll software currently used;
- date to which the bank and bookkeeping records are reconciled;
- most recent accounts and tax returns completed;
- approaching CRO and Revenue deadlines;
- services required and the problems the business wants to solve; and
- preferred mix of local meetings and secure remote support.
How to compare SME accountants
Ask who will manage the relationship, who performs and reviews the work, what is included in the fee, how additional work is approved and when reports will arrive. Confirm professional standing and, if an audit is required, the firm’s audit authorisation. Compare written scopes rather than headline prices alone.
Nationwide accountancy enquiries
Irish businesses in every county can submit an enquiry. Availability and service scope depend on the participating firm. Find My Accountant does not set professional fees, recommend a particular outcome or guarantee that a firm will accept an engagement.
Frequently asked questions
Does every SME need monthly management accounts?
No. The useful frequency depends on the decisions being made, cash pressure, lender or investor requirements and the reliability of the bookkeeping. Read the management accounts guide before agreeing the reporting pack.
Can an accountant take over if the records are behind?
Often, subject to capacity, professional clearance and sufficient records. The first step should be a written recovery scope separating bookkeeping, accounts, CRO and Revenue work.
Will one firm provide bookkeeping and annual accounts?
Many firms do, but the business should still ask who performs each task, how the work is reviewed and whether any part is outsourced.
How do I start?
Prepare the information above and submit a confidential enquiry. With your express consent, it may be sent to one participating accountant serving your business.
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