If you want your business to prosper, you need to get a handle on the finances. In order to do so, you need the right business accountant.
With only a few simple tips, you’ll have a better idea of what to look for.
Read on for a complete checklist.
1. Is It Time?
If you’re a small business with a manageable yearly revenue, you might not bee in need of an in-house accountant or an external for that matter.
However, what happens when your business starts to grow. You have to decide when it’s time to hire a business accountant. Business growth won’t be possible without a solid financial plan that allocates exactly where the money needs to go.
You then have to decide whether you’ll get an internal or external accountant.
2. Internal vs. External
Know that internal and external accountants have different responsibilities. You need to put a lot of thought before you decide what your business needs.
An external accountant will take care of things such as tax preparation, preparing financial statements, balance sheets, and more. They will be mainly an outside resource to solve larger financial issues and answer questions.
If you want to relinquish control of the finances, then an internal accountant is necessary. They will take care of things relating to payroll, daily transactions, general ledger, cash management, and more.
The type of accountant you choose will depend on size and budget of your business.
3. Get a Referral
While it can be so easy to find an accountant on the internet, you’ll be better off getting a referral.
Ask businesses in your industry or friends to recommend you an accountant. This way you’ll have a first-hand review of how the accountant works.
Word of mouth is an important tool for finding a quality accountant.
4. Can You Understand Them?
When you meet with a potential candidate, it’s important for you to understand what they’re saying.
You already know they can throw around financial terms, but can they speak your language?
Make sure the accountant you pick can speak in terms you can understand and never leaves you wondering what something means.
They should be personable and care about the person behind the business and not just the numbers.
5. Do they Match Your Needs?
You need to find an accountant who matches your needs. If you pick an accountant who is far off from your niche, it might not work out.
The accountant you pick should be familiar working with a business of your size and industry.
It also helps if their professional values match the needs of your business. In this respect, it’s always helpful to trust your instincts.
Find The Right Business Accountant
Before you find the right business accountant, you have to ensure they check all the boxes in your checklist. Decide if you need an internal or external accountant, get a referral, and ensure they match your needs.
Most importantly, you have to trust your instincts when picking the right accountant for your business.
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