Many business owners only see their accountant once a year, often around tax time. While that’s important, there’s real value in having broader, more regular conversations throughout the year.
When engaged early and often, your accountant can be more than a compliance expert – they can be a trusted advisor, helping you make confident decisions, plan ahead, and support the long-term success of your business. The key is knowing the right questions to ask.
Here are some valuable questions to raise with your accountant, and how they can support better outcomes for your business.
1. Is my business structure right?
Your business structure plays an important role in how your business operates today and how it grows in the future. Whether you operate as a sole trader, partnership, company, trust (or a combination), each structure offers different benefits in terms of tax effectiveness, flexibility, asset protection and succession planning.
As your circumstances change, it’s worth checking in to ensure your structure continues to align with your goals – supporting where your business is now, and where you want it to go.
2. What does my tax position look like before year-end?
Early conversations around tax planning provide flexibility and peace of mind.
By looking ahead to your year-end position, your accountant can help you consider the timing of income, capital expenditure and other decisions – allowing you to plan with confidence and avoid last-minute decisions.
Ask what opportunities or considerations might be relevant for the year ahead.
3. How is my cash flow tracking?
Cash flow is a key driver of business confidence and flexibility.
Your accountant can help you understand:
- How cash moves through your business
- Where cash is being tied up (such as stock, debtors or work in progress)
- Seasonal patterns and future funding needs
- Whether your drawings, debt levels, or growth plans are sustainable
Regular cash-flow forecasting supports informed decision-making and helps you plan for growth with clarity.
4. What are my numbers telling me about business performance?
Financial statements and reports are more compliance documents – they help tell the story of your business and act as diagnostic tools.
Ask your accountant:
- What trends do you see in my margins and cost structure?
- How does my business compare to others in the sector?
- Which key metrics should I be focusing on?
This turns compliance reporting into insight.
5. How well am I positioned from a compliance perspective?
Staying on top of compliance requirements – such as tax, Goods and Services Tax (GST), employment tax, superannuation and company obligations supports smooth operations and reduces distractions.
Your accountant can help you understand what applies to your business, keep you informed of changes, and ensure processes continue to run efficiently as your business evolves.
6. Are there opportunities to strengthen or protect my business?
With a broad view across many businesses and sectors, accountants can often provide a valuable perspective.
They can help you identify opportunities to strengthen systems, diversify revenue, enhance documentation and improve resilience – all of which support long-term succession planning and business value.
7. How prepared is my business for growth, succession or future changes?
Whether you’re planning to grow, bring in partners, or exit one day, early preparation creates flexibility and choice.
Discussing questions such as:
- What drives the value of my business?
- Are my systems, records and governance supporting my future plans?
- What practical steps could I take now?
Even if a sale is years away, these considerations often lead to stronger foundations and better decisions today.
8. What should I focus on over the next 12 months?
One of the most valuable conversations you can have is about what comes next.
A trusted accountant who understands your business can help prioritise goals, provide practical guidance, identify opportunities and highlight focus areas – ensuring your time and energy are spent where they add the most value.
Next steps
The strongest outcomes happen when business owners see their accountant as a year-round advisor, not just a once-a-year requirement.
Asking proactive, forward-looking questions leads to better conversations – and greater clarity and confidence in the decisions you make for your business.
Speak with your local Nexia Advisor to discuss how you can maximise opportunities for your business. We are your trusted advisor with the resources and expertise to help you navigate complex challenges and achieve your goals.
Written by Mark Knofflock from Hawke’s Bay.
