How Can I Know Which Accountant is Right for Me?
Here are a few things to consider before taking the plunge:
WHAT YOU GET FOR YOUR MONEY
Accountants for small businesses can help you with everything from day-to-day bookkeeping to representing you in a tax audit (if they have the proper accreditation). Do you want someone to advise you in crafting your next business plan or help you prepare financial projections so you can secure a business loan? Will you want these or other services in the near future? It’s a good idea to think long-term when hiring an accountant. Look for someone with whom you can build a relationship that will grow with your business.
ASK FOR REFERRALS FROM PEOPLE YOU TRUST
The best way to find an excellent accountant is to ask colleagues and friends for referrals. You can also find a Tax Professional on the National Association of Tax Professionals website (https://www.natptax.com) or look for a ProAdvisor. A ProAdvisor is a QuickBooks-certified independent accounting pro who can provide strategic insights to drive small business success.
SHOP AROUND
It’s a good idea to talk to at least three accountants or accounting firms before choosing one. Remember that professionals work for you; don’t be afraid to ask questions and thoroughly vet accountants who might handle a vital aspect of your business.
CHECK THEIR REFERENCES AND ONLINE REVIEWS
FIND OUT HOW RESPONSIVE THEY’LL BE
There is nothing worse than placing your finances in someone else’s hands only to find that he or she doesn’t return calls quickly or doesn’t provide adequate information when you’re under the gun. Ask potential candidates about their turnaround time for filings and reports. Find out from their references how responsive they are to requests.
GET CLEAR ABOUT RATES
The last thing you want from an accountant is a surprise when the bill arrives. Make sure you understand their fee structure and get estimates for the monthly costs for the services you need. Go over your budget and work out a contract that meets your needs without breaking the bank.
KNOW YOUR OWN BOTTOM LINE.
Handing over your books to an accounting professional is not the same as handing over full responsibility for the financial health of your business. Make sure you understand your cash situation so you understand what you are asking your accountant to do. It’s up to you to ensure that your accountant provides the level of service you expect, but an accountant isn’t a monetary wizard, so don’t make them solely responsible for your financial success.