hiring an accountant

Hiring an Accountant? 5 Important Considerations

Handling the finances is stressful and downright exhausting for a small business owner. You have a million tasks acquiring your attention, but accounting shouldn’t be one of them.

Accounting is best left to the professionals, as it requires a keen eye. A seemingly small oversight may set your small business back quite a few financial steps. Whether you need help with your taxes, payroll or financial forecasting, an Accountant can help you pave the way forward.

But, finding the right Accountant is not the easiest of tasks, and you may have no clue what you should be looking for in the first place! We’re here to help.

Here are the top 5 characteristics you should be looking for when hiring an Accountant for your small business.

1 Communicate Regularly

Communication is an important trait when looking for an Accounting and tax professional. Lack of communication means you are not getting the best service on a very delicate matter – your financials.

Hire a qualified Accountant, who will keep you up to date with information around your accounts and taxes. Whether it’s through a regular phone call or monthly reporting, make sure they are capable of keeping you informed on a scheduled timeline.

2 Experience & Competence

There really is no substitute. You want to hire the services of someone who has years of experience handling situations similar to yours. Since you are not the one with the financial expertise, make sure the person you give the reins to is.

Consider your industry. Are you working in the education sector? Find a reputable Accountant who has experience in that market, as your financial obligations may differ from those of others.

3 Reputation Is Everything

Believe it or not, some Accountants can put you in a worse tax position than you currently find yourself in. There are finance fraudsters out there who will be quick to lie about their qualifications to satisfy their own pockets.

Ask potential hires for references and contact numbers. If you are acquiring the services of an accounting firm, check out their Google and Facebook reviews. Clients who have received a bad or dodgy service will be quick to report it.

Many accounting firms have client logos on their website. Consider checking the legitimacy of those current clients.

4 Location to Your Office

Although technology is proving that barriers don’t matter, the rules of the game should change when it comes to your Accountant. When looking for someone to handle your books, consider the proximity of their office to yours.

Something as delicate as your financials means you should work with someone you can easily meet up with. Complicated procedures may need to be arranged, and are likely best discussed in person.

5 Affordability is Key

Accountants are notoriously expensive, which is why small businesses often avoid their services altogether. However, there are plenty of affordable accounting firms out there who offer competitive pricing to small businesses.

Shop around and do not feel compelled to settle with an Accountant who speaks over your head. Have a budget in mind beforehand, and do not be afraid to negotiate desirable rates.

Looking for the crossroads where affordability and professionalism collide? Contact Reporting Solutions for your accounting and reporting needs.

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