Top Tips for Choosing an Accountant
If you own a business or a company you know for sure that choosing the right and most reliable accountant is one of the most important decisions you have to make in order to make sure that all operations of your business run smooth. In fact, the right accountant will not only save you time and all the stress and hassle of dealing with all sorts of responsibilities you most probably don’t know how to handle, but also they will help your business grow and bloom. In a contrast, a bad accountant you cannot put trust in is most probably going to cost you a lot of money and nerves. This is why you have to take your time, do thorough research, and put some effort into the process of choosing the right accountant for your business. In order to help you make this important decision, here is a short list of some indicators you will predominantly look for when searching for and hiring the right professional.
It used to be very important to have your accounting and bookkeeping professional located nearby back in the days. In fact, a good location is the key to more convenience and saving a lot of time. However, with the growing popularity of Internet-mediated services, it is no more an issue if your accountant is located in a distance of hundreds of kilometres away. Thankfully, nowadays more and more companies and businesses are collaborating online which provides you with even more convenience and the opportunity to save even more time even if the accountant’s office was located next block down.
In addition, nowadays accounting is significantly better developed and adapted to the online world with the use of a bunch of great software solutions. However, one thing you still have to keep into account when choosing an accountant based on the location is that the professionals have to have a good and extensive knowledge of local trading conditions, regulations, business networking, the ability to refer you to local banks, solicitors, mortgage advisors, etc. With all that knowledge and contacts you will expect your accountant to be at least based in the same country you are operating your business in.
Next thing you would like to consider when choosing the right accountant for your business is the services they are offering and how much of a help they can be for your business in particular. The standard tasks such as completing annual accounts, setting up payroll, and dealing with HMRC are definitely a must but you also have to think of the rest of the services you may and will need throughout the year. Choose an accountant who is not only reliable and with a good reputation but also someone who will take the time and make the effort to get familiar with you, your business, your needs and requirements. Your best accountant is not only going to provide you with basic accounting services but also with professional support and practical advice in general. Think of your accountant as the guide who will help you set up your business, collaborate with you to help your business grow and develop, help you in achieving your business goals.
Of course, you are going to look for a professional with enough experience with working with companies and businesses as close to your niche as possible. Look for someone who has a pretty good experience working with companies within your industry, not just a good experience in general. You want to work with an accountant that can offer services and support that are tailored to your industry. The easiest way to find such an accountant is by asking for testimonials and a portfolio or checking the Linkedin profile of the professional and see their previous and current projects/work.
Last but not least, you will most probably want to know what fees your accountant will charge. Keep in mind to check if the fees are charged annually or monthly as this can make a lot of difference for your final decision. Don’t forget to ask how will extra work charged for too as you may experience some unexpected situations and cases throughout the year, you never know for sure. The best way is to find an accountant or a bookkeeping company that will provide you with a fixed fee structure that covers all costs. In case this is not possible, make sure to choose an accountant who will discuss all fees (also the additional ones) clearly and prior to the course of work.