5 Questions You Should Be Asking Your Accountant (But Probably Aren't)

Still treating your accountant like a once-a-year checkbox, these are the questions to ask your accountant, all year round.

Most business owners assume their accountant’s role stops at tax. But the right accountant should help you understand your numbers, plan ahead, and make confident decisions, not just keep you compliant.

If you’re not sure how to get more out of that relationship, here are 5 questions to start asking your accountant today.

What's actually driving (or draining) my profit?

Most people focus on revenue (that’s the total money coming in), but what really matters is your profit (what’s left after all your costs are paid).

Ask your accountant to break it down:

• What products or services are most profitable?

• Where are you losing money without realising?

• Are your costs creeping up without being noticed?

How can I manage my cash flow better this quarter?

Cash flow = the timing of money in vs. money out.

It’s one thing to make sales, but if cash isn’t hitting your bank account when you need it, things get tight and fast.

Ask:

• When do most of my expenses hit?

• Are there gaps between invoicing and getting paid?

• How can I smooth that out so I’m not constantly under pressure?

Is my pricing strategy helping or hurting my business?

Are you covering costs? Leaving room for profit? Or undercharging because you’re guessing?

A good accountant can help you understand your profit margin (profit margin = how much you actually keep from each sale after costs). If your margins are thin, you might be busy but not actually building anything sustainable.

What should I be planning for now, not when it's too late?

EOFY (End Of Financial Year) isn’t the only time to look at your numbers.

A strategic accountant helps you:

• Set financial goals

• Track progress throughout the year

• Adjust when things change

The earlier you plan, the more options you have. At VBA, we plan and prepare for tax throughout the WHOLE year.

What am I not seeing?

Sometimes, you don’t know what to ask. A great accountant will raise red flags or opportunities before they become problems.

They’ll help you see:

• Where you’re spending too much

• If you’re relying too heavily on one income stream

• If you're behind on super, tax, or BAS obligations

This is what real financial support looks like.

At VBA, we go beyond just managing tax.

We combine bookkeeping, compliance, and ongoing financial advice through our Strategic Business Advisory and Bookkeeping service. That means your books are clean and someone’s there to help you understand what they mean and what to do next.

If your accountant only shows up at tax time, it's time for more. Start by learning the VBA way here.