Questions to Ask Your Accountant

Are my financial records in good shape?

Ask whether your bookkeeping is complete, consistent, and organized enough to provide reliable financial information.

There may be transactions that need clarification, accounts that haven't been reconciled, or categories that could be handled more consistently. Addressing these issues regularly is usually easier than waiting until tax season.

What should I be watching in my financial reports?

Financial statements contain a lot of information, but not every number requires the same level of attention.

Ask which areas of your profit and loss statement, balance sheet, and cash flow reports are particularly relevant to your business.

Understanding what to monitor can make financial reports more useful for everyday decision-making.

Am I handling business expenses appropriately?

Business owners frequently have questions about which expenses should be recorded, how they should be categorized, and what documentation should be retained.

Rather than assuming that every purchase connected to the business will receive the same accounting or tax treatment, ask about expenses that are unusual, significant, or unclear.

Should I be making estimated tax payments?

Depending on your circumstances, you may need to make tax payments during the year rather than waiting until you file your return.

Ask whether estimated payments may apply to you, how they are generally determined, and when your tax situation should be reviewed again.

How is my cash flow looking?

Profit and available cash are not the same thing.

Ask whether your financial records reveal anything important about the timing of money coming into and leaving the business. If cash regularly becomes tight at certain times, understanding the pattern can help with planning.

Are there changes in my business I should tell you about?

Changes in how a business operates can affect its accounting and tax needs.

Hiring employees, working with contractors, purchasing equipment, taking on financing, adding an owner, opening another location, or significantly changing revenue are examples of developments worth discussing.

Keeping your accountant informed can help identify issues before they become year-end surprises.

What records should I keep?

Ask which financial documents should be retained and how they should be organized.

Depending on the business, this may include receipts, invoices, bank statements, payroll records, tax documents, contracts, and documentation for significant purchases.

A clear recordkeeping system makes it easier to retrieve information when it is needed.

What should we be planning for next?

Accounting conversations don't have to focus only on what already happened.

Ask whether there are upcoming tax deadlines, financial decisions, recordkeeping changes, or other matters that deserve attention during the next few months.

Regular planning can help turn accounting from a year-end task into an ongoing business resource.

Make the conversation useful

You don't need to know accounting terminology to ask useful questions. If something in your financial reports or tax situation doesn't make sense, ask for an explanation in straightforward language.

The goal is to leave the conversation with a clearer understanding of where your business stands and what deserves your attention next.

General information only: This resource is intended for general educational purposes and is not individualized tax, accounting, legal, or financial advice. The questions and considerations relevant to a business will depend on its specific circumstances.