With so much to manage when running your own company, hiring an accountant to take care of your finances and taxes is highly recommended. However, you need to choose the right one, since they will be taking care of a crucial part of your business, and your life.
Here’s a guide on choosing an accountant for your business.
Things to Consider in Choosing an Accountant
What Would You Have Your Accountant Do?
Consider your firm size
It is essential to know what you need an accountant for when looking for one. If you run a small business, your needs may be as simple as filling out the forms of your tax returns and making a year-end report.
If you intend to build your business in the coming years, you may want to invest in an accountant who can provide full financial planning services and suggest tax reduction strategies, beyond filing your taxes.
Set scope of work and expectations
When meeting with prospective accountants, it is necessary to discuss their scope of work, especially your expectations of their work, and how much they will bill you for it.
If you’re not sure what you need precisely, an accountancy firm would be able to analyse whether your needs are simple or complex, and assign the accountant or bookkeeper who fits you best from their office.
Experience and Expertise
Look at their client list
Naturally, it would be best if you got an accountant with experience in working with businesses like yours. Check out the client list of a prospective accountant to see if their companies seem to be flourishing.
Of course, this may be due to several factors, but an excellent financial grounding is one of them.
Find someone you can communicate with
It would help if you also compared several prospective accountants, not only how much they will charge you per hour, but also how you can easily communicate with each other. Ideally, the right accountant should be considered as a business partner, and not just someone paying your taxes at the end of each year.