Getting the financial support of a financial accountant can be the best decision you make for your company. If you need to hire an accountant, you’ll be required to find someone who understands the needs of your business. Choosing an accountant can be a very tedious task.
Hiring an accountant benefits your company in things like good decision making to making sure you’re on the right side of the IRS. So how do you get an accountant that will help your financial and business goals for your business?
Here are tips on how to find and hire an accountant.
Understand Why You Need to Hire an Accountant
Before you even start your search, come up with an outline of why you need an accountant.
Consider all factors that are related to the accounting requirements. They include:
- The number of people in your payroll
- The level of your income
- The business sector you operate in
- The kind of accountant or business you want to work with
- Your current financial situation
- If you’re considering to sell your company in the future
- The type of business setup you have
- The goals of your company
Imagine you’re coming up with an ideal persona for you as an accountant, and describe the kind of client you’d be.
Decide Your Accountancy Needs
After understanding the needs of your business, you can now evaluate the accountancy services you require before you hire an accountant. You may require all the following accounting services or a few of them.
Here are different business accounting services you may need:
- HMRC guidance and support
- Financial management
- Year-end counting
- Other extra services accountants give are:
- Business consultation and growth advice
- Legal aid and documentation aid
- Business establishment
Failing to list the services you need may lead you to hire the wrong accountant.
Decide the Ideal Accountant For Your Business
Every organization is different. Similarly, the accountant firms are tailored for different clients. They have their special set of skills and special ways of doing things.
Before you hire an accountant, make sure the needs of your business and what the accountant firm is offering are aligned.
Accountant services vary based on the following.
Who they work with. Some accountants are designed for small businesses, while others are best suitable for big companies. You may also realize that some firms offer specialized services for different law firms. For example, if you’re operating a micro-business, it’s best to avoid firms that provide accounting services for the micro-local business.
The size of the firm. Some companies are small, while others are large. You want to work with an organization that is fully equipped with well-trained employees.
Collected accreditations. There are different levels of accounting credentials, each playing a different role in the world of financial management. Accounting firms have accreditations, so you’ve got to choose a combination that works best for you.
Fees and charges. When hiring an accountant, be careful not to overspend while all you need is a little hand in your business. You’ve got to find a balance to avoid cheap services that may not fulfill the purpose you want for your business. Most of the accountants will offer services on a retainer basis or per/hour basis. If you require something like a monthly audit, it’s best to hire an accountant on per/hour basis.
Before you settle for any accountant, shop around to know the price range of how much you should expect to pay for the services.
Management methods. Unlike the traditional methods where accountants would only be found in offices, now you’ll even find accountants who work remotely. It’s up to you to know the type of management that you prefer. It’s vital that you decide how you’ll be communicating with the accountant. If you want a face-to-face conversation, then you’ll have to search remotely.
Personality and Attitude
Before you hire an accountant, it’s good to have a one-one or video interview with them. This can give you so much insight into the kind of person they are and the value they’ll bring to your business.
Gauge them to see if they’re just after your buck, or they genuinely want to provide value to your business. Listen to them as you have a conversation and ask yourself important questions. Are they considering your opinion or are they dominating the whole talk?
If they are transparent about their business practices and fees. While you want someone who listens to what you’ve got to say, you also want to work with someone who corrects you and guides you when you’re on the wrong path.
Try to get someone who gives support and positive criticism well.
Ask For Referrals
Another easy way to get a great accountant is by asking for referrals from other small businesses. By so doing, you’re sure that the person you get is qualified for all the services, and they have a record to show.
It’s better sometimes that you ask for referrals from people within the same industry. However, even if you get a referral, it’s crucial that you follow the right hiring method to decide if they’re the right person for the job.
Have an interview with them, and ask the right questions. Be sure to check their credentials and their reviews online.
Are You Looking to Hire an Accountant?
The finances are the most critical part of a business. Therefore, you’ve got to be very cautious about the person you give the task of handling your business.
Besides the professional certificates, you want to hire an accountant with experience working with businesses in your industry. You also want to work with someone who isn’t just looking for a way to pay bills, but who is passionate about helping your business grow.
The above tips will give you an idea of what to look for when hiring an accountant. If you need more tips and advice on running your business, visit our blog.