How To Hire The Right Accountant For Your Business
Posted by: Brookside Admin
While you might start your business with a plan to handle your own finances, as you grow, you'll likely outgrow that capability. That's when you'll need to find a CPA to help. Finding an accountant who fits your needs and can bring additional insight into your business can give you a big advantage over the competition and help your business continue to grow. Here are a few tips for finding an accounting firm that can provide those benefits.
This is the simplest, most cut and dried factor in deciding on which accountant to hire. Either you can afford to have them fulfill all of your accounting needs, or you can't. Ask about hourly rates, and whether they're willing to work on a monthly retainer. Depending on your needs, a retainer may be a better deal for you. It's also a good idea to ask about common tasks you'll be needing them for and get a quote for how much each would cost. That can give you a better idea for how much the accountant's services will cost you each month if they're charging by the hour. The price shouldn't be your only deciding factor, but it is a good place to start.
When you hire a new staff member, you likely consider how their personality and work style fits in with the rest of your employees and with your work environment. Similar considerations need to be made when hiring an accountant. Some may be more aggressive and employ more creative decisions when managing your finances. Others may be more traditional and straightforward. This will become more evident as you interview multiple accountants. Additionally, you need to know that your accountant has time for you. If you're going to require a lot of back and forth communication and a big chunk of their time, be sure they aren't tied down already with a heavy client load.
The size of your business and your industry will largely dictate the type of services you require. This also makes your needs unique and different from the needs of other clients and business owners. Before starting your search for an accountant, you should take the time to create a list of services you'll need. That could help you eliminate some accounting firms from contention before the interview process. In some cases, working with an accountant who specializes in your industry is necessary. Other times, it's only important that the accountant you hire understands your needs, can provide for them, and can make recommendations that save your business money.
While you can learn a lot about prospective accountants from their experience and interviewing them, you should also check some of their references. Don't be afraid to ask for them as good accountants should have a long list of happy clients available for you to speak to. Use these conversations to find out if the working relationship the accountant has with their clients fits the mold of what you are looking for.