Your accountant should know your industry.

Most business owners hire an accountant to “do the books.” Lodge the BAS. File the tax return. Keep the ATO happy.

That’s important, but here’s the thing: if your accountant doesn’t actually understand the industry you’re in, you’re probably leaving money on the table  and opening yourself up to risks you didn’t even know existed.

Numbers without context are useless

Imagine a builder explaining a job to someone who’s never stepped foot on a worksite. They can nod along, but they won’t understand the timing, the risks, or why one small delay can throw the whole project off.

It’s the same with accountants. If they don’t get the cash flow cycles in construction, the seasonality of agriculture, or the tight margins in trades, their advice is limited. The numbers mean less without context.

Industry knowledge = sharper decisions

Here’s what happens when your accountant knows your world:

• Construction: They’ll flag QBCC compliance issues before you even think about them. They’ll know how to structure your business so you can take on bigger projects without risking your licence.
• Agriculture: They’ll help you plan around seasonal income and expenses, making sure cash flow doesn’t dry up between harvests.
• Trades: They’ll understand the impact of tool purchases, vehicles, and apprenticeships on your deductions and long-term planning.

It’s not about knowing accounting. It’s about knowing your accounting.

The cost of getting it wrong

We’ve seen business owners switch over after years with a generalist firm and discover:

• They’ve missed thousands in deductions that were specific to their industry.
• They’ve been carrying unnecessary risk because compliance wasn’t monitored closely.
• Their accountant only spoke to them once a year, and by then it was too late to fix anything.

What to look for in an accountant

If you want more than compliance, here’s what matters:

• Do they ask questions about your industry, not just your numbers?
• Can they explain the unique risks you face, like licensing, audits, or seasonal pressures?
• Do they work with businesses like yours and have case studies to back it up?

The bottom line

The right accountant isn’t just a number-cruncher. They’re someone who understands the way your business actually works and gives advice you can act on.

Because at the end of the day, tax returns don’t grow your business. Smart, industry-specific decisions do.

👉 Want to work with an accountant who understands your industry? Book a free consultation today: Contact FTA Accountants