One might be able to do their bookkeeping or file their taxes. However, there are instances where a person will benefit from hiring a certified accounting firm or accountant. Such professionals stay up to date with new laws and will be able to offer financial advice and assist their clients with various financial needs. When planning to hire an accountant, it is important to have a few considerations.
Hiring An Accounting Firm
A place to begin in getting an accounting firm is by getting referrals. Inquire from individuals and businesses in the same field who have received the services of an accounting firm. Find out whether they were satisfied with the work. Another way of finding an accounting firm is from directories and online searches. Look at client testimonials and feedback regarding the work that has been done to get more information about the company.
Determine your business needs. What would you want the accounting firm to handle? Do you want the books to be handled, taxation or advice and goals and strategies to grow your business? Knowing your needs will help you communicate what your expectations are to the accounting firm.
Look for accountants who have been certified. There are different levels of accountants all with varying degrees of education. There are those with a globally recognized certification and licensing. Others with advanced managerial skills, while others with general certification for providing financial statements and reports. For some of this levels, one needs to have a certain amount of experience and level of education.
Another factor to look at is the experience of the firm. What business portfolio do they have? Who are their clients, have they handled clients who are in a similar field as you. One can interview the clients and find out how the services have been. Are they available and have they delivered on the required expectations. A certain level of expertise is required to handle certain issues. according to Wynkoop & Associates, CPA big firms will have a range of accountants to manage clients accounts who have specialized in different aspects of accounting. However, for a smaller firm, it is important to find out whether they will be able to handle and resolve issues that may arise.
Cost and rates is a critical element as one looks to hiring an accounting firm. Fees vary from one company to another. Some charge as per the task being performed other by the minute. It is good to clarify the terms before engaging and hiring an accounting firm.
Finally, find out about the availability of the accounting firm. Some clients prefer regular meetings and communication. While other customers are content with meeting their accountants during critical financial times and seasons like the tax - filing season or when making yearly budgets and annual reports.