Starting and running a small business can be exciting, but dealing with money stuff like taxes, bookkeeping, and planning can be stressful. That’s why having the right accountant is more than just hiring someone to manage receipts. It’s about finding a professional you trust, someone who can guide your business through financial decisions and help it grow strong and smart.
Why you actually need an accountant
If you're just starting out, you might think: "I can handle my own finances. I have spreadsheets, right?" And sure, that might work in the very early days. But as your business grows, the numbers get more complicated, and mistakes can cost you a lot. This is where an accountant becomes your financial sidekick.
An accountant isn’t just someone who plugs numbers into software. They help keep your records organized, make sure you’re following tax laws, and give advice that could help you save money or avoid future problems. Plus, they free up your time so you can focus on the parts of your business you actually enjoy.
A good accountant can help:
- Set up smart systems from day one
- Track your cash flow so you don't run into financial trouble
- Plan for taxes (and reduce how much you legally owe)
- Avoid fines and stay within the law
They help you stay one step ahead, not only telling you where you are, but also where to go. Here at Easybiz we have combined our 20 years of fiduciary service expertise with our own platform, to not only help you with your accountant needs, but also help you set everything up, even if you’re transitioning from another platform.
What kind of services do accountants offer?
When you start looking for an accountant, you’ll see that they offer a range of services. Some do just the basics, while others provide full-on business consulting.
📚Bookkeeping
Bookkeeping is a basic daily task of keeping track of all your money in and out. That includes:
- Invoices
- Expenses
- Bank reconciliations
- Payroll (if you have employees)
It might sound boring, but bookkeeping is super important. If it's not done right, your reports will be wrong, and your decisions could be off. A good accountant helps you keep these records neat and useful. They can turn them into financial reports (like a profit and loss statement or a balance sheet) that show how your business is really doing.
🧾Taxes
Handling taxes is one of the biggest headaches for everyone, not only small business owners. There are deadlines, rules, and tons of opportunities to accidentally mess things up.
A professional accountant will:
- Prepare and file your income tax returns
- Help with VAT (value-added tax) returns
- Stay up to date on the latest Luxembourgish tax laws
- Give you legal strategies to lower your tax bill
If you’re operating internationally, tax laws get even trickier. It’s smart to work with someone who understands cross-border taxation.
💡Business advice
Some accountants go beyond just doing your books and taxes. They can act like a financial advisor, helping you make smarter decisions.
They might help you:
- Make a realistic budget
- Forecast sales and expenses
- Prepare financial plans to show to investors or banks
- Figure out if now is the right time to hire, invest, or grow
They can even give tips on pricing, managing costs, or valuing your business if you plan to sell one day.
What to look for when choosing an accountant
Not all accountants are created equal. Here are the main things you should look for:
1️⃣Experience with similar businesses
Choose someone who works with businesses that look like yours. A freelancer might need different help than a coffee shop or a tech startup. Ask if they’ve worked with your type of business before.
If they know your industry, they'll understand the challenges you face and the hidden opportunities.
2️⃣Region-specific qualifications
If you're in Luxembourg, you should know about the title "expert-comptable" (chartered accountant), which are the pros that have:
- A degree in accounting or a related field
- A 3-year traineeship
- Passed a professional exam
- A permit from the Ministry of the Economy
- Registration with the Ordre des Experts-Comptables (OEC)
Make sure they have required qualifications for the region you are running your business in. Some businesses are even required by law to work with a specific type of account and legal professionals.
3️⃣Clear communication
You want someone who talks to you in a way that makes sense. If they throw around too much jargon, you’ll be lost. They should be easy to reach, open to questions, and able to explain your numbers in plain language.
Pick someone who fits your style. If you like quick answers and they take a week to reply, it won’t work.
4️⃣Tech-savvy and software knowledge
Digital tools make accounting easier and faster. Ask what software they use. For example, EasyBiz was made specifically for the local market in Luxembourg.
An accountant who’s comfortable with tech can automate reports, reduce errors, and give you up-to-date info about your finances.
5️⃣Transparent fees and real value for you and your business
Accountants charge in different ways:
- By the hour
- Flat rates for certain services
- Monthly packages
In Luxembourg, basic bookkeeping might cost around €200/month. Full-service packages (including payroll and tax filing) will cost more, depending on your business.
Focus on value, not just price. Sometimes it’s worth paying more to get expert advice and support. Just make sure the costs are clear upfront so there are no surprises later.
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Learn moreHow to interview a potential accountant
Once you’ve found a few candidates, set up a chat or a video call to get to know them. Treat it like hiring for a key position, because that’s exactly what it is.
Here are some questions to ask:
- What services do you offer to small businesses?
- Have you worked with businesses like mine?
- What accounting software do you use?
- How do you communicate with clients?
- What’s your turnaround time for questions or reports?
- How do you stay current on tax laws?
- Can I talk to one of your current clients for recommendations?
- And don’t forget the big one – “What value can you bring to my business besides just staying compliant?”
Making your final choice
After you talk to a few accountants, take a step back and compare. Think about more than just qualifications:
- ✔️Do you feel comfortable with them?
- ✔️Did they explain things clearly?
- ✔️Were they interested in your business goals?
The right accountant should feel like a trusted advisor, someone who understands your vision and is invested in helping you succeed. If you’re in need of Luxembourg accountant and do not want to spend all this search for a perfect candidate, just reach out to us at Easybiz, and we’ll handle everything.
Conclusion
Choosing an accountant isn’t just about handling taxes or staying out of trouble. It’s about building a financial partnership that supports your business as it grows. The right accountant helps you:
- Make smarter decisions
- Stay legally compliant
- Save time and reduce stress
- Build a long-term plan for success
Take your time, ask the right questions, and trust your instincts. When you find the right fit, it can make all the difference.
