Posted on: 30 July 2020
Everyone starts a business with the aim that it will thrive and become a giant in a particular niche. One of the easy ways to ensure exponential business growth is recruiting a trusted accountant to help with financial record-keeping, tax advice, accounting, and auditing.
The four functions of the accountant, and your specific business needs, should always guide you in choosing the ideal candidate for the job. You can get a competent accountant by asking for referrals from bankers, attorneys, and business associates. When you have a number of them in mind, use the following guidelines to help you choose the best one for your needs.
1. Their Academic Qualifications
Accounting is the most sensitive part of a business. All accountants are required to have a high level of professionalism when performing their duties. They are only able to maintain these standards when properly trained and certified.
A certified public accountant, CPA certification, or chartered accountant CA, should the minimum educational requirements that you look for in an accountant. You may also want to engage a professional who is a registered tax agent so that they can assist you with filing returns when the time of the year comes. Also, ensure that the accountant is a member of a professional body.
2. The Accounting Software They Are Familiar With
Technology has changed the world of bookkeeping a lot in the past few years. Business management software is changing by the day, and if an accountant is to be effective, they have to keep up with the changes in technology.
Before hiring an accountant, find out if they have certain software which they prefer. If you have already installed certain software, check whether they are conversant with it, or willing to learn how to use it. Look for an accountant who uses business management and accounting software to simplify the overall financial reporting and accounting work.
3. The Fees They Charge for Their Service
The other consideration to think about is the fees your preferred accountant charges for their services. If your business is just starting up, you might not see the need to hire an accountant because you don't want to pay for the services. However, this may be the worst decision you could ever make.
However, if you have an already established business, consider getting an accountant on a permanent basis. They will work with you to ensure the financial goals which fuel business growth are met.
These are the considerations to make when picking the best accountant for your business. Take time and choose a professional as your business growth relies on it.Share