How Do You Hire an Accountant?

Posted by Tomothy Gomes on October 30th, 2017

One of the important staff members that a small business cannot do without is an accountant. Finding the right one is not only crucial to the business but also a daunting task.

Before you interview some prospects, take time to determine what accounting services you actually need. Establish first if you need an accountant who will handle all your accounting processes, one who will only do your annual accounts, or an accountant who has to provide financial statements for submission to third parties. Does your business serve an international market, or do you need an accountant with a specific specialisation?

Only after you've established your actual needs can you start talking to potential accountants or accounting firms and finding out some of the essential details.

How long the accounting firm has been in business

An accountant is essential in helping your business survive and thrive. Look for an accountant who understands the challenges faced by small business owners. You need an accountant who has the right experience and a substantial number of years of helping small businesses to grow bigger.

References

References are critical for decision-making. If the accountant or the accounting firm cannot provide references, you should talk to other prospects. You need to find out what other clients, especially those like you, say about the accounting services provided. Ensure that what the accountant claims is actually the service they render.

Means of communication

From the start, you must be clear about how you want to communicate. Determine if they want face-to-face meetings on a regular basis or they prefer to do the entire process virtually, including the transfer of financial documents and other information. Moreover, it is important to discuss if you understand financial terms or you need reports and documents written with terminology that it is easier to comprehend.

Account management

Trust is the most important thing when you conduct business. It is the same when dealing with an accountant or accounting firm. In the case of hiring a firm, see to it that you know who will be assigned to manage your account. Enquire about the accounting system they recommend, based on your business and how it will improve your own accounting system.

Knowledge

Search for details regarding a tax deduction that is relevant to your industry or your business in particular. If an accountant you are interviewing falters over the correct response when asked about it, it might be an indication that the accountant is not a good match for your requirements. You should also ask about the issues that affect your particular industry and what advice they would give you.

Getting in-depth information about accountants in Central London will ensure that you find one suitable for your business and your accounting needs.