Legal

Choosing an Accountant

When it comes to choosing an accountant for your business, many factors have to be considered. Choosing an accountant is often likened to selecting a new business partner. The accountant that you choose eventually becomes a colleague that you can trust and also depend on. As your small business continues to grow, the accountant will offer you guidance and advice. It is therefore important that you choose the right accountant who will be suitable for your small business. The first step in choosing an accountant is recognizing that there is need to hire an accountant and that the time is right. The second step is now the process of choosing the suitable accountant.
Always take the time when choosing an accountant since hurried decisions may lead to regrets in the long run. You will have to consider things like the location of the accountant, workload division and also the kind of accounting software to be used. You will also have to consider the amount of wage that the new accountant will receive and if they will help minimize the taxes of your business. Having a capable and experienced accountant to handle your business’ finances is in the best interest of your business. The right accountant will save you both money and time year after year. The following are some of the key factors to consider before choosing an accountant:
Location
In the past, having your accountant located near your business was important. However, with the current era of technology, firms are collaborating online and managing their businesses with cloud-based technology. This therefore means that location does not matter a lot when it comes to choosing an accountant. Through the cloud accounting, your accountant and you will be able to see the same real-time data no matter your location. For business owners who prefer face-to-face contact, it is crucial that you choose an accountant who is located nearby.
Certified accountant
For the interest of your small business, always choose an accountant who has been certified by the government or professional body. This may vary from the country you reside in but they could be a:
• Chartered Accountant
• Certified Public Accountant
• Member of the Institute of Financial Accountants
• Member of the Association of International Accountants
Chartered Accountants are known as professionals who are highly qualified and have cleared a degree-level study. They also have undergone a professional competence programme and possess a workplace experience. An accountant who is knowledgeable and experienced will add value to your business and will contribute to its growth and success. Accountants who are not chartered can be hired for tax preparation, bookkeeping or general financial management.
An accountant with relevant expertise
It is important that you choose an accountant who as experience in preparing financial documents and tax returns for businesses of the same size as yours. If you use cloud-based software for your business, you may want to hire an accountant who is well experienced with cloud computing. It will also be an added advantage if they have worked with businesses that are in the same market fields as yours. This will assist them in understanding your business’s unique needs. If the accountant has previously worked with larger clients, you will be assured that they will handle the growing needs of your business over time.
It is also important to consult widely before settling on an accountant for your business. You can do this through local chambers of commerce and voluntary organizations. You can also use the connections you have online to ask for accountants who are most qualified and experienced. All in all, choosing an accountant for your business is a personal decision so make sure that you choose the person who you feel will best suit your business or organization.

For more information, visit: Linghams Chartered Accountants.