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How to find the right accountant for your small business

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You’re out in the market running a small business that might succeed soon. You’re helping your customers, and in return, they’re repaying you with that one thing every start-up needs to thrive: money.

You may have started making a massive amount, and your business is booming, and it’s time to get someone to help keep track of that money. 

Is it the right time to need an accountant for your business?
Your answer might be, “No, no way.” 

You can use an app or do it with business accounting software. So why do you need to spend the money?

We get it — whether you’re a seasoned seller or just getting started, every small business owner wants to cut down on costs and earn profit from better margins. So you only spend on what is necessary for your business.

We’re here to tell you that hiring the right accountant is necessary for your small business. When you hire an accountant, they can save your business with responsibility and make your life much easier as a small business owner.

Keeping the above benefits in mind, ask yourself;
When should you require a small business accountant? 
How can you find the right accountant for your small business?

Don’t worry—we’ve got answers for you. Follow the steps checklist below to find the best business accountant for you.

Why should you hire a business accountant?

why you should hire a business accountant

Before searching for an accountant, you need to start with primary questions to yourself. 

  • What does your business need?
  • What kind of services do you need?
  • Do you need any help with your taxes? 
  • Do you need someone to help with your daily accounting practices? 
  • Is financial tracking something you’re missing? 

Figure out why you need an accountant for your small business, and then search for someone with the desired skills to meet your needs.

Most small business owners look for an accountant locally that can fulfil their basic needs.
However, there are online accountants too, who are willing to provide services to small businesses. You will find them affordable and easy to communicate digitally. 

Either you go for a local one or online, go with a small group of accountants that fit your essential criteria.

You find out why your business needs an accountant if you follow and answer all of the above questions.

How can you find the right accountant for your small business?

You can find the perfect accountant for your small business if you understand your needs.
There are four steps to find out an accountant. If you follow them, you’ll hire a professional business accountant for your company after completing the last one.
Let’s start with the very first one.

1. Referrals - ask other businesses about their accountants.

You are doing business, which means you are already in the market. To get referrals, you have to visit other small business offices. Meet their owner, manager or respective person responsible for their business accounts. 

Check out who is helping them and how much they are satisfied with accountant services. Look out for their working criteria. Try to figure out their accountant speciality and other services according to your business needs.

Suppose you can’t hire a small business accountant via referrals. You can use the internet or the yellow pages to choose several firms that provide accounting services.

2.  Call accountants you've selected and discuss their services.

Now you get a list of the right accountants from other small businesses or the internet. Start calling and asking them about their educations and experience in their respective industry.

You can also check for professional auditing firms; they might have good experience and education in your small business industry.

Now you have initial information about your potential accountants. You have to choose 3-4 accountants for an interview from this list.

3. Prepare a short list of questions to ask prospective accountants.

You are a business owner, so you don’t need to be shy about asking questions. How can you consider them the best fit if you do not ask questions? You need to know, what to look for in an accountant.

Ask about billing

List questions about billing rates and how they calculate them?
It would be best to ask them about their phone call and email policy. Ask them about phone call charges or email charges

Ask about availability

Ask them about their availability. How often are they available for a short phone call or email advice? It’s important; your accountant can contact you whenever you have questions.

Ask about tax return

List questions about charges for the necessary tax return file. You have prepared a copy of your previous year’s tax return file. Ask to calculate a rough estimate of the cost of preparations. 
These are the most critical factors you must raise with them in an interview.
Lastly, choosing an accountant familiar with your business’s unique requirements and tax situations would be best. So you can use their services whenever you need them.

Ask about your business industry.

If you have special requirements, you can also evaluate them according to them.

For example;

  • If your business is digital and relies on the internet, you can ask your accountant about eCommerce business and its strategies.
  • If you are thinking about an export business, you might ask them how an accountant can help to develop an export strategy

Now at the end of step three, you have a massive list of questions. That is enough to evaluate your accountant’s capability. Let’s move to the last point.

4.   Meet with the prospective accountant and ask your questions.

There’s nothing better than a face-to-face meeting. You can determine how well you can work with each other. 

Besides, assessing the knowledge of accountants and asking your prepared questions. It would be best to find out how comfortable you are with your accountant and how well you can communicate.

When you pick up an accountant for your small business, you are not just going for assistance in accounts but establishing a long-term relationship too. So feeling comfortable with them should be your priority after evaluating their experience and education.

After all, the accountant will not just be your tax coach; they will assist you in building a road map for the future of your business.

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Naqqash Ahmad
Naqqash Ahmad
Hello, I’m Naqqash, Founder & CEO of Capital Plus Auditing of Accounts. I am a certified Chartered Accountant and I have more than 10 years of experience working with entrepreneurs, small and medium businesses and helping them with their operational and growth-related issues very closely over the past few years.

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