Finding a good accountant for your small business is a daunting yet crucial task. While it may seem as easy as getting contacts and calling up an account, it is far from it. There is a lot that goes in to the search for the ideal account for your business.
While the process of finding an accountant can be vexing, you can simplify it by approaching it systematically and asking the right questions. Most importantly, you must be sure of what it is that you want.
Do you need a specialist or a general account? Do you need an account that will only produce annual accounts or you want someone to manage your accounts regularly? Here are some questions you need to ask when hiring an accounting for your small business:
- How long have they been in business?
An accountant will make a difference in your company. You’ll do well to settle for an accountant that specializes in working with small businesses, understands your challenges and is able to help you flourish.
- Does the accountant have references?
You should not be in a hurry to seal a deal with an accountant who doesn’t have any references. You must ensure you hear testimonials from other small businesses about how their services. The accountant must be willing to provide references. Otherwise, quit engaging them.
- How does the accountant communicate with clients?
You need to establish how the accountant will communicate with you. That is, will it be through face to face meetings or will you do it electronically including sharing financial documents as well as other relevant information.
- How many people will handle your account?
It is crucial that you are aware of the relationship between you and your accountant in terms of the number of people that will be handling your account. This is particularly important if you are working with a London accountants what subscribe to an established firm. Generally, it is recommended that you only have one person handling your accounts.
- Can the accountant offer feedback on your accounting system?
Your existing method of financial reporting may not be the best but you wouldn’t know until you are told by an expert. Therefore, you need to find out from the prospective accountant if they are able to examine and evaluate your current accounting system.
- How will the accountant improve your businesses’ bottom line?
A good accountant should be able to use legal means to ensure your tax exposure is minimal. Even then, you should have provided the true state of your accounts to your prospective accountant.
- Can the accountant recommend any accounting programs?
You accountant must be aware of the current industry trends and recommend an accounting system or program that will take your enterprise to the next level.
Overall, it is important to ensure you ask the right questions when hiring London accountants. This will help you to assess the suitability of the accountant for your business.