Choosing the right accountant is like choosing a new financial partner, and can save you time and money.
A good accountant will become a trusted colleague you can depend on, who offers you advice and guidance as your business grows. A general accounting principles covers four basic areas including auditing, tax advice, accounting and record-keeping and advisory services.
Keeping this in mind it’s advisable to take some time around and choose an accountant that suits your business needs. One of the best ways to find the right accountant is get a referral from your attorney, banker or a business colleague preferably in the same industry. So what are the tips you need to consider when choosing a good accountant.
Check their qualification
Accounting qualifications tend differ across the world, professional bodies are tasked with maintaining high standards of the accountants as well as ensuring they met the stipulated accounting qualifications. Depending on the practising countries accountants may be called Certified Public Accountants (CPA) or Chartered Accountants (CAs). Given the greater experience and knowledge exhibited by the certified or chartered accountants, they’ll be in a position to assist you in all your bookkeeping needs. In other cases, accountants are also required to be registered as tax agent as well as belong to a professional association.
As business owner should ask about fees upfront, most accountants or accounting firms charge on hourly basis, however some accountants tend to charge on a monthly retainer and other charge a percentage of the business turnover. Consider the services you’re likely to need and which is the most cost-effective option for your business, there should always be value for money in all services rendered to your business.
Find out what accounting software they use
There are many accounting software available to businesses and often accountant have their own preferred accounting software. It’s advisable to agree to use the market-leading accounting software that is easy to find and use, you can also opt for cloud-based accounting software with in built encryption thereby securing your business information.
Technical knowledge and expertise
There is a general consensus that accountant should possess a high level of technical knowledge and expertise in accounting software to ensure client obtain the best from their account software packages. As a business owner you’ll need a person with experience in preparing financial documents and filling of tax returns, and if your business uses cloud –based accounting software for much of its operations, you’ll definitely need a person who is savvy with cloud computing.
Accountants will do more than managing your accounts and filling tax returns, but accountants are more proactive. So before hiring an accountant seek suggestion on how they can help you save your business resources including time and money. Use the above tips to choose a good accountant to hire an accountant that suits your business needs.