As a small business owner, you already have enough tasks on your plate that managing your finances only causes a headache. You certainly don’t have to do it alone. With an accountant by your side, you can let him or her worry about money management while you spend time running your business. But how do you find an accountant who’s right for you? Be sure to look at these factors in making your decision.
Think About the Type of Accountant You Want
Before you dive too far into making a decision about who to hire, consider what type of accountant you’ll work with. Will you hire an accounting firm, or will you employ an in-house accountant? Maybe you’ll work with an independent accountant.
An accounting firm can help you during tax season to prepare your tax return and financial statements and give accounting advice. An independent accountant can perform the same tasks, but she or he might offer more affordable rates. An in-house accountant can be beneficial for year-round financial maintenance. Consider which route you’ll take and will benefit you most in your situation.
Consider Education and Experience
Not everyone has the skills to handle your finances, so it’s best to look at an accountant’s education and experience to get a good idea of how well he or she understands the accounting industry. At the very least, your accountant should have a bachelor’s in accounting. Some accountants go on to get their master’s to acquire enough credit hours to take the CPA exam. When looking for an accountant, it’s often best to hire a certified public accountant (CPA) with several years of experience.
Evaluate Communication Skills
As you communicate with a potential accountant, you should get a good sense of whether or not she or he is a good communicator. If you have a tough time getting in touch with the accountant or you’re confused by the jargon he or she is spouting off, then you can probably trust that things won’t be any easier when you hire him or her. As Forbes.com puts it, “The mark of a really great-to-work-with CPA is an ability to translate esoteric ideas and terms into something that you can truly understand and work with.”
Research Your Accountant
Before you hire an accountant, dig a little deeper into your accountant’s background. Ask if the accountant has references, and then contact the references. Conduct an interview, and explore past client testimonials. Remember that your accountant will have access to all your financial data, so you want to make sure you’re hiring an honest individual who knows what they’re doing when it comes to your business’s money.
One of the best ways to get a quality testimonial from previous clients is to start your search with past clients. Ask a business acquaintance in the same industry if they can refer you to a quality accountant or firm that they’ve used in the past.
Which steps will you take to help you found the right accountant for your small business?
