When running your own business, you may find that you have the need for an accountant. Despite this, understanding accounting services and selecting the right accountant can be a difficult task, especially when you’ve never been faced with it before. This should be carefully done as this person will be dealing with your finances, meaning that you need the utmost trust in them and their abilities. Though you’ll have to pay for an accountant, the right one will save you both money and time for years on end. So, what should you be considering when finding the right accountant?
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Ask Yourself if Location Matters
Once upon a time, it was imperative that your accountant lived nearby your business, however, modern technology now means that isn’t always the case. Plenty of companies are now collaborating online and using cloud-based technology to handle their business. Despite this, some companies will benefit from the accountant being able to come on site. Therefore, you need to evaluate your business and decide whether it’s necessary for your accountant to be nearby.
If you eliminate the need for your accountant to come into the office, then realistically they can be anywhere in the world. This widens the job pool, allowing you to get your hands on the best possible accountant.
Choose a Certified Accountant
In order to put your mind at ease, you should hire an accountant that’s regulated by a professional body. These include a member of the Institute of Financial Accountants, a member of the Association, a Chartered Accountant, or a Certified Public Accountant. Chartered Accountants are professionals that have completed above degree-level study. It’s important to select a qualified accountant so that you’re able to install trust in them.
Hunt for Relevant Expertise
All accountancy jobs are different meaning that you’ll want to select an accountant with the relevant job experience. You should be on the hunt for someone who has expertise regarding the financial documents and tax returns of a similar sized company. Additionally, if they’ve worked in a similar industry to your business, this will also be particularly helpful. You might also find it handy if they have clients of a larger scale as this will equip them to deal with the growth you’re hoping to see.
Talk to Business Associations
Government associations are responsible for advising and assisting small businesses and you should take advantage of these services. These will aid you in decisions such as selecting the right accountant. Some organizations are voluntary and will offer the services to you for free so be sure to look into all the assistance that’s available to you. This might not give you your final decision about the accountant you’re going to hire but could narrow down the list of interviewees.
Look into Social Networks
Accounting is a common profession, meaning that you’re probably already in contact with an accountant. Ask family, friends, and colleagues if they’re familiar with any good accountants. Though it’s useful to hear from personal experience, you must also bear in mind that an accountant won’t be a one-size-fits-all employee. An accountant that works for a friend’s business may not work for yours.
Make Online Connections
In this day and age, it’s so easy to track people down. Though you might not find your next accountant through the likes of Facebook, Instagram, or Twitter, you might well find them on LinkedIn. LinkedIn is a great tool that allows someone to build a professional profile, meaning that you’ll have a world of accountants right at your fingertips. Others can even recommend accountants to you using this service, meaning you’ll get a good idea of what they have to offer.
