SME Accounting: What You Should Expect From Your Accountant
Introduction: The Strategic Role of the Accountant in Portuguese SMEs In the dynamic and complex Portuguese business environment, a Small and Medium-sized Enterprise (SME) faces multiple challenges. Beyond operational management and market conquest, legal and tax compliance is a critical area that can determine the sustainability and growth of the business. It is in this context that the certified accountant assumes a role that largely transcends the mere execution of accounting tasks. The modern accountant is, or should be, a strategic partner. Their expertise is not limited to "doing the acc…
Key Takeaways
- Demand monthly reports by the 15th of the following month
- Ideal response time: 24-48 hours for simple queries
- Accountant should proactively alert about deadlines and obligations
- Evaluate: if failing more than 2 indicators, consider alternatives
- Base services should include accounting, tax returns and payroll
FAQ
What should an SME accounting retainer include?
A base retainer should include general accounting, periodic tax returns (VAT, withholdings, SS), annual returns (Corporate Tax, IES), payroll processing, monthly reports, email support and online portal access.
What is an acceptable response time from an accountant?
For simple email queries, acceptable time is 48 hours (ideal 24h). For urgent declarations, 72 hours (ideal 48h). For tax emergencies, should respond same day or within 24 hours.
How do I know if I should change accountants?
Warning signs include: recurring delays in declarations, frequent errors, lack of communication, absence of proactivity, not receiving business analysis reports, and penalties due to accountant non-compliance.
What reports should I receive monthly?
You should receive monthly trial balance with variance analysis, updated income statement, cash flow analysis, comparison with previous periods and alerts about critical situations.
Should the accountant provide tax consulting?
Yes, a good accountant should identify applicable tax benefits, do annual tax planning, support during tax inspections and clarify tax doubts in a timely manner.