How to Choose an Accountant for Your Business

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.



Nilesh Vasoya

Nilesh Vasoya

Nilesh Vasoya is a CPA and experienced business advisor with 15+ years’ experience in accounting and tax, and certifications from NTAA, ICAI (India). He is also a Registered Tax and ASIC Agent. Nilesh specialises in financial reports, cash flow, taxation advice, internal audit, account reconciliation, and advice for small businesses on maximising XERO, MYOB, and QUICKBOOKS. He is experienced in developing strategies for growth within small-medium scale companies.

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