How to Choose an Accounting Firm?
While in the process of hiring an accounting firm, it will be a good idea to hire those that make you feel comfortable. It doesn’t matter if you hire a company that has team of accountants or a private individual, as the owner or a professional service, you have to have assurance that they have the competence and experience in the service they offer. Yes it is true that you don’t know much about accountants but it is you who runs your business. When managing a business, it is imperative to know how it is making profit and not to confuse your profits with your cash flow.
In regards to accountants, it is them who got the knowledge and education on laws concerning business taxes and on what is best to do on the finances of your company. It is best that you start looking for another company if you sense that the firm or the accountant doesn’t care much of your interest and time or just doing whatever they feels right on your finances.
Your business is extremely important to you for sure and having said that, you’ve got to select a firm that you feel you’re treated with dignity and not with high handedness. You may know only little about accounting practices but you commission pros to work for you as your extended employees. Therefore, you’re paying for their services to deal with the legal tax matters, carry out taxes and provide advice on properly setting up books, payroll and other accounting matters of your company.
Whether the employees of the accounting firm is working from their headquarters or go to your company, one thing is for sure and that is the fact that they’ll act as your financial advisers or perform the actual accounting work. You must feel confident of their skills and abilities and at the same time, genuine concern for your company’s welfare or business office.
If possible, work with accounting firms that take the initiative in showing clients how they are doing accounting related tasks without being asked. Make it a point that they have explained as well how they charge for their service and to when they expect their payment once they have completed the job you want them to do be it doing the books, payroll etc. If you think that you’re employing a CPA or Certified Public Accountant, then check first if they’re certified. If you don’t want to compromise on service, then this is something you should not disregard.
The only way to make sure that you are choosing the right firm is if you run background checks on them.