Working with a good accountant should be a priority if you’re running or intending to run your own business. They should be one of the first people you talk to after a lawyer.
An accountant is more than someone who looks after your books. In many ways, they are like your partner: they can become counsellors and warn you when you’re making dangerous decisions; they can notify you of anomalies in your business; and they can give you recommendations to improve your cash flow.
Having a good accountant in your corner is an invaluable asset and could give you an advantage over your competition. Let’s take a look at how to find a great accountant for your business.
Check their Expertise
The first thing you have to do is verify their experience. You want to make sure that they have experience working with not just clients in general, but clients like you. A major tax accounting firm is more likely to have the set of expertise that you need than a sole accountant. That’s because they have a bigger team, allowing them to delegate certain accounts to those who have the specialisation needed. You’ll have the chance to work with someone who understands your line of business inside and out and will be able to guide you better.
Another thing you should ask them is how they stay up to date. You have accountants that will stick to what they know and won’t bother with development, but it’s always nice to be with an accountant who’s familiar with the most recent tools and technologies.
Get References
The next step is checking with former clients of theirs. If you can, try to get references from people in the same industry as yours. Ask how the service was and how they were able to benefit from working with them. Also, ask how their after-care service was and how communication went.
Ask Who Will be Handling Your Account
If you decide to go with a firm, you have to know who will be handling your account at a given time. Ideally, you want to be able to build a relationship with your accountant, but it’s not always possible. You will have to evaluate your needs. Having different people handling your account is not necessarily bad as it may be passed to someone who understands your field better, but some may prefer to always speak to the same person. This is something you’ll have to clarify from the start.
How Much Will It Cost?
Now, you’ll have to look at your budget and what you can actually afford. It’s great to have an expert team by your side, but chances are you can’t afford the type of accountant who works on large corporate accounts yet. You need someone who is competent but won’t ruin you either.
This is why you need to address the money part immediately when meeting with an accountant or working with a firm. Some will have different plans and will be ready to adjust themselves to your budget. Some will charge you by the hour while others will charge a fixed fee.
Paying by the hour may be the best option at first for someone with a limited budget. You pay as you go and only pay for services received. Some will prefer having an accountant on retainer as it provides more stability and ongoing support.
These are all things that will allow you to find the perfect accountant for your needs. Do your research, and don’t be afraid to ask as many questions as possible to anyone you are thinking of working with.
0 Comments