Keeping your business books in check is not always easy. If you do not practice proper accounting, many things can go wrong, which will affect your business financially. Sometimes you may also face legal challenges, for instance, if you do not report your taxes as required by the UK government. Therefore, it is vital to hire an accountant to keep your business accounting needs in check. With an accountant, you will get professional financial assistance, and comply with tax requirements. But, how do you find the right accountant for your small business? Below are four questions that will make hiring an accountant easy.
What are your company needs?
Before you start hunting for a business accountant, it is essential to know your business needs. What services does your business needs? Do you need help keeping your business accounts in order? Are you looking for professional help filing your taxes? Do you need professional help with your daily business accounting needs? By answering these questions, you will know which accountant or accounting company to hire. Look for an accountant that suits your needs. Where possible, look for an accounting company that can offer you many accounting services. This way, you do not have to hire a different accountant for different accounting tasks.
Who are the leading players?
It is essential to research and find out the leading accountants in your area. Whether online or local, be sure to shortlist accountants that you come across. If possible, look for an accountant that has an office down the road and also an online presence.
What is the reputation of the accountant?
Before settling for an accountant, you must do your homework. After shortlisting several accountants based on your needs, find out more about them. You can look online and read reviews and testimonials about their services. Also, you can call them in search of information that will help you make a sound decision. This way, you will narrow your choices.
Once you narrow down your list, set up an appointment (online or physically) with each candidate or company, and ask a few questions. Here are some questions to ask:
- What experience do you have with small businesses?
You want an accountant with experience, and more so handling small businesses. In other words, if your business falls under SMES, ensure that the accountant or accounting company is currently handling other SMEs accounts.
- Do you have any experience in my industry?
Having an account with many years of experience is not enough if they have no experience in your niche. They have to understand your unique industry and your business needs as well. Otherwise, they will miss details when advising you or filing taxes.
- Who will I be working with?
If you are considering hiring an accounting firm, it is essential to know your contact. You must have one accountant working for your business. This way, you know who to ask questions and call when you have accounting issues. You do not have to re-explain your accounting needs to a new accountant every time.
- What services are you offering?
Make sure your preferred accountant or accounting firm is offering services that your business needs. Compare your needs with the accounting services they are offering.
How do they charge?
Before settling for any accountant, understand how the account will bill your business for services. Some will charge hourly, and others will have a flat rate. Some accountants will have a combination of the two. Also, be sure to ask for any hidden charges. The bottom line is to look for cheap accountants that suit your needs.
When hiring an accountant for your small business, it is crucial to be selective. It will take you time to land the right accountant, but it is worth it. Hiring the right accountants will grow your business and keep your accounts in check.