Hiring a professional accountant for your small business is a smart investment that will pay off in the long run. Their professional expertise will guide you through some of the common financial pitfalls that businesses suffer from. As a result, you’ll have higher profits and more free time to focus on other aspects of your business. It’s important to note, however, that not all accountants are the same. To get the most benefit from their services, you’ll need to choose the one that’s right for you. Keep reading and we’ll reveal a simple method for choosing a small business accountant.
Before you can even think about hiring an accountant, you should identify the specific needs of your business. Some businesses may only require the services of an accountant during tax time, while others may need them for on-going work like payroll, invoices, check cashing, etc. Determine exactly what services you need and then start your search for an accountant.
When it comes to your business’s financial documentation, you want a skilled and experienced accountant for the job. Allowing some inexperienced college student to perform your taxes or handle other accounting roles places the livelihood of your business at risk. Even the slightest mistake in your financial statements could result in disastrous consequences.
So, how do you know if an accountant is qualified to handle your small business? Check to see if they are designated Certified Public Accountants (CPA). This requires ongoing training and test taking in the accounting field. You can expect to pay a bit more for an actual CPA, but their experience and knowledge is something that every small business can benefit from. Don’t just take their word for it, but instead ask to see their credentials to ensure they are still registered as a CPA and have met all of the necessary prerequisites.
Experience and Background
In addition to their credentials, you should also perform a basic background check on their past experience and client reviews. Thanks to the expansion and reach of the internet, this has never been easier. Any reputable accountant should have a website with their past experience and education. Check to make sure it’s credible and professional. If there are any discrepancies, you may want to double check to see if they are correct.
Doing a simple Google search of the accountant’s name will likely reveal comments and reviews from past clients. See what people said about the accountant’s services. If the majority of comments are positive, then you know the accountant must be a pretty good choice. On the other hand, a long list of negative comments is a sign of trouble.
These are just a few of the many things you should consider when choosing an accountant for your small business. Take your time to compare the services offered by different accountants both online and in-person until you find the best match for the needs of your business. A services offered by a good accountant is something that’s well worth the investment.
About the Author: Alyssa is a content contributor for MyVAO.com. Alyssa enjoys writing about accounting advice, small business marketing, and much more. She recommends checking out MyVAO for all of your Quickbooks hosting needs.