History shows that businesses (of all sizes) that engage the services of an accountant are more likely to prosper financially over time. An accountant not only helps keep your financial records in order, help determine the areas where a business can improve its profitability, help in filing taxes on time but they also help to generally streamline the operations of a business enterprise. Given that there are many professionals offering accounting services, how do you go about choosing the right accountant as the proprietor of a curtain and blinds company in Chester?
Before starting your search for an accountant, there are several important things you should consider. They include:
- The size of your business – Depending on the size of your business, you may need the services of one professional or the might of an entire accounting firm to handle all your bookkeeping needs.
- Your hiring budget and the reasons why you need an accountant – Depending on your budget and unique needs, you can either choose to engage an in-house accountant or outsource the services of an accountant. If you need a professional to handle simple bookkeeping tasks occasionally, outsourcing an accountant may be more financially prudent. On the other hand, if you run a huge enterprise and manage a huge inventory, hiring an in-house accountant may save you a lot of money in the long run.
With that in mind, the article below will now progress to discuss the top factors you should consider when selecting an accountant.
Here are the top considerations to make when choosing an accountant for your blinds and curtains in Chester company.
1. Academic Qualifications
When engaging an accountant, it is imperative that you check to see if they have the requisite academic qualifications. The professional that you hire should either be a Certified Public Accountant (CPA) or they should be a certified Chartered Accountant (CA). These academic qualifications usually show that an individual has the requisite knowledge to handle your bookkeeping needs in accordance to the Generally Accepted Accounting Principles (GAAP). Ideally, you should also go for a professional who keeps themselves updated with new trends and changes in the accounting and financial sector.
2. Software To Be Used by The Accountant
Today, there are many types of accounting software used by accountants to streamline the books of accounts for a business such as Sage, Xero and QuickBooks. The professional that you engage should be adept in using different software since they make bookkeeping work easier and more accurate. If your business has online presence, you should go for an accountant who is also adept in cloud accounting. This way, your chosen accountant can receive real-time updates on any developments happening in your company.
3. The Services to Be Rendered by The Accountant
As mentioned earlier, accountants usually have the expertise to perform a host of bookkeeping services including (but not limited to) setting up and maintaining your payrolls, completing annual returns, filing tax returns and performing business evaluations. Before hiring an accountant, ensure that you understand the scope of services that they can offer your business. Ideally, your accountant should be able to offer extra value such as offering advice on where to find the best business partners and expert guidance when you are dealing with mortgage lenders, suppliers and other stakeholders in your business.
4. The Expertise of The Accountant
Though accountants generally have the expertise on how to handle the general bookkeeping of any business, it is best that you hire a professional who specializes in handling the accounting needs of firms that are of a similar size to yours. For example, if you run a small business, you should go for an accountant who has extensive experience handling the accounting needs of small businesses.
Additionally, it is best to hire a professional who is seasoned in bookkeeping instead of a newbie. Remember that experience usually breeds proficiency in any line of work. Before hiring an accountant, talk to their past employers to gauge if they have a reputation for offering reliable and professional services.
5. The Fees
Different professionals rely on varying models to calculate their fees. If you hire an in-house accountant, expect to pay a monthly salary for services rendered. If you outsource accounting services, you may be charged on an hourly, monthly or annual basis. In some cases, you may also be charged fees when the professional handles a specific task. In order to find a qualified accountant for your curtain and blinds company in Chester who is within your budget range, consider asking qualified candidates to apply for the available accounting job. Apart from finding an affordable professional, this will also give you a wide range of applicants from which you can create a shortlist of the best candidates for the job.
Some of the other ways you can find a qualified accountant for your business within a short time include:
- Asking for referrals from professional bodies
- Asking for recommendations from people in your business, professional and social circles