As an entrepreneur, one of the most important decisions you will make for your business is finding a good accountant. A reliable accountant can help you stay organized and compliant with tax laws, as well as provide valuable insights into the financial health of your business.
But with so many accountants to choose from, how do you know which one to trust with your financials? In this blog post, we discuss some of the key factors to consider when choosing an accountant who can help your business grow.
Look for Credentials and Experience
The first thing you should look for when searching for a good accountant is their credentials and experience. A qualified accountant should have a degree in accounting or a related field, as well as certification from a recognized professional association like the American Institute of Certified Public Accountants ("AICPA"). Additionally, you should look for an accountant who has experience in business, in general, and in working with businesses similar to yours. If you're in a very niche industry, someone familiar with general business issues is more important that niche industry credentials.
Consider Their Availability and Communication
Another important factor to consider is the availability and communication style of the accountant. A good accountant should be able to provide you with prompt and responsive service, and be available to answer your questions or concerns. You should also look for an accountant who communicates effectively, and can explain complex financial concepts in a way that you can understand.
If they're someone who has a newsletter or a dedicated client support e-mail, those are a plus.
Review Their Services and Fees
When choosing an accountant, it's important to review their services and fees to make sure they align with your business needs and budget. Some accountants may offer a full suite of financial services, while others may specialize in specific areas like tax preparation or bookkeeping. You should also ask about their fee structure and billing methods to make sure they are transparent and affordable.
The most flexible options are typically monthly packages at differing service levels. While you may start with basic monthly bookkeeping, as your business grows you'll need expanded services offerings including strategic tax advice or outsourced CFO services. Make sure your accountant can grow with you.
Check Their Reputation and Reviews
Before making a final decision, it's important to check the reputation of the accountant you're considering. You can do this by looking at their website, checking online reviews or asking for references from other business owners who have worked with the same accountant. A good accountant will have a strong reputation in the industry and a track record of satisfied clients. Their website should give you a sense for their experience and you can also check their social media profiles starting with LinkedIn.
Set Up a Consultation
Once you have narrowed down your list of potential accountants, it's a good idea to set up a consultation to discuss your business needs and goals. This is also a good opportunity to ask any remaining questions and get a feel for the accountant's communication style and approach to working with clients.
If they don't get back to you right away to set up a meeting, that's a red flag that they're probably too busy. Ultimately, you want to choose an accountant that you feel comfortable working with and who has a vested interest in helping your business succeed.
Final Thoughts
Choosing a good accountant for your business is a crucial decision that can have a significant impact on your financial health and success. By considering the credentials and experience, availability and communication, services and fees, and reputation and reviews, you can find an accountant who will help your business grow and thrive.
Remember to take your time, do your research, and choose an accountant that you feel confident and comfortable working with.
