There’s no standard answer to how often small business owners should sit down with their accountant, and that’s part of what makes it confusing. Some businesses barely touch base except during tax season, while others have their accountant practically on speed dial. The right frequency depends on where your business is at, how complicated your finances are, and what you’re trying to accomplish.
Most small businesses fall into one of three general patterns when it comes to accountant meetings, but the problem is that many are following the wrong pattern for their actual needs. Understanding which category you fit into can save money, prevent errors, and help you get better value from the relationship.
The Annual Check-In Approach
The most common setup is the once-a-year meeting, usually triggered by tax deadlines. The business owner hands over a shoebox of receipts (or these days, a folder of digital records), and the accountant prepares the returns. This works fine for very simple businesses, sole traders with straightforward income, or side hustles that haven’t grown much.
But here’s the thing: if your business has grown at all in the past year, annual meetings probably aren’t cutting it anymore. You might not realize it, but you’re likely missing out on tax planning opportunities that only work if you implement them before the year ends. By the time you meet in March or April to file returns, it’s too late to make changes that could have saved money.
Annual meetings also mean you’re navigating financial decisions throughout the year without professional input. When you’re wondering whether to hire that first employee, sign a new lease, or make a significant equipment purchase, those are the moments when accountant advice is most valuable, not six months later when you’re reviewing what already happened.
Quarterly Meetings for Growing Businesses
Quarterly check-ins strike a better balance for businesses that are actively growing or dealing with moderate complexity. Meeting every three months means you’re reviewing financial performance regularly enough to spot trends, address problems before they become serious, and make informed decisions based on current data rather than outdated snapshots.
Many family run accountants recommend quarterly meetings for businesses with employees, multiple revenue streams, or inventory management, because these elements add layers of complexity that benefit from regular oversight. It’s also easier to remember financial details from the past three months than trying to reconstruct what happened over an entire year.
Quarterly meetings typically involve reviewing profit and loss statements, checking cash flow patterns, discussing any significant business changes, and planning for upcoming tax obligations. The accountant can spot potential issues early, whether it’s cash flow problems developing, expense categories getting out of hand, or opportunities to adjust estimated tax payments.
The downside is cost. Four meetings a year obviously costs more than one, though many accountants build this into annual packages rather than charging per meeting. The question becomes whether the value (better decision making, tax savings, error prevention) outweighs the additional expense.
Monthly Meetings for Complex Operations
Monthly meetings make sense for businesses with significant complexity, rapid growth, or industries where financial margins are tight and require close monitoring. This includes businesses with substantial inventory, multiple locations, large payrolls, or those going through major transitions.
At the monthly level, you’re almost treating your accountant as a part-time CFO. These meetings are less about looking backward at what happened and more about forward-looking planning. What do the next 30 to 60 days look like? Are there cash flow crunches coming? Should hiring decisions be delayed or accelerated based on financial projections?
Monthly meetings also make sense during specific business phases even if you don’t need them permanently. If you’re preparing to apply for a significant loan, considering expansion, or dealing with financial difficulties, temporarily increasing meeting frequency can help you navigate those situations more effectively.
The main drawback is time and cost. Monthly meetings represent a substantial commitment of both, and for many small businesses, it’s more involvement than they actually need. Some business owners also find that monthly financial reviews don’t show enough change month to month to justify the meeting time.
What Actually Gets Discussed
The content of accountant meetings varies based on frequency, but there are some common elements regardless of schedule. Financial statement analysis happens every time, looking at income, expenses, and profit margins. Any significant variances from expectations or previous periods get flagged and discussed.
Tax planning is another regular topic, though it becomes more actionable in meetings that happen throughout the year rather than after everything is already set. The accountant might suggest strategies for timing income or expenses, taking advantage of deductions, or structuring transactions in tax-efficient ways.
Business decisions often come up, particularly in more frequent meetings. Should the business lease or buy equipment? Is it time to hire? Can the owner afford to take a larger salary? These questions have financial implications that accountants can help work through.
Compliance issues and deadline reminders round out typical meetings. Making sure VAT returns are filed, payroll taxes are current, and regulatory requirements are met prevents problems that cost far more to fix than to prevent.
Signs You Need More Frequent Meetings
Several warning signs suggest current meeting frequency isn’t enough. If financial surprises keep happening (unexpected tax bills, cash flow problems that weren’t anticipated, discovering errors months after they occurred), that’s a clear indicator that more regular check-ins would help.
When business decisions are being delayed because of uncertainty about the financial implications, that’s another sign. If you find yourself thinking “I need to ask my accountant about this” and then waiting weeks or months for your next scheduled meeting, you’re probably not meeting often enough.
Rapid business growth almost always requires increasing meeting frequency, at least temporarily. The financial patterns that worked when revenue was £100,000 per year don’t necessarily work when revenue hits £500,000, and you need guidance to navigate that transition.
Finding the Right Balance
The honest answer is that most small businesses should be meeting with their accountant more often than they currently do, but not necessarily monthly. Quarterly meetings represent the sweet spot for businesses that have moved beyond the startup phase but aren’t yet at the size where they need a full-time financial person.
The key is making sure meetings are productive rather than just routine. Come prepared with specific questions, review financials beforehand so you’re not seeing them for the first time in the meeting, and be ready to discuss upcoming decisions where accountant input would be valuable.
It’s also worth having a conversation with your accountant about what meeting schedule they recommend for your specific situation. They see the complexity of your finances and can give you honest feedback about whether your current pattern is adequate or whether adjusting would benefit the business.
The cost of accountant meetings should be weighed against the cost of poor financial decisions, missed tax savings, and problems that go unnoticed until they’re expensive to fix. For most growing businesses, the investment in more regular contact pays for itself fairly quickly.
