How to Find an Accountant That’s Right for Your Business

Business owners manage many different facets of their company. Some of their tasks include supervising marketing plans, overseeing the delivery of products or services, and maintaining good professional relationships with clients. On top of this, business owners must track their finances, which is a vital factor that keeps companies solvent.

While bookkeeping can be done with basic accounting software, there are financial tasks that are more complicated and time-consuming for a company’s resources. This leaves business owners with less time to improve other aspects of their brand. Thus, when a business grows, it’s a good time to start looking for an accountant who can accommodate these important financial tasks. Other companies even invest in a more reliable accounting system to ensure all their financial records are securely filed.

To choose the right accountant for your company, the following are essential steps every business owner should consider.

Get Referrals from Trusted Contacts

Ask for referrals from colleagues in adjacent industries. If you’re a member of a business organization, find out which accounting firms companies are contracting in similar enterprises. Business partners may even provide connections to viable candidates that are a good fit for your business.

If you’re a small business owner, it’s a good idea to get in touch with other small businesses in your area. Ask them if they consult with a professional accountant and if they can recommend anyone. Chances are you’ll find a few leads to a good candidate. Find out about the accountant’s fees, so you can anticipate the consultation’s cost in advance.

Gauge the Scope of the Accountant’s Tasks

Many small businesses cannot afford to hire a full-time accountant or bookkeeper. Thus, it’s more practical to hire an accountant on a consultancy basis. Consulting generally costs less than employing a full-time accountant. It also allows small businesses to receive better financial and tax planning advice from a professional, such as a certified public accountant (CPA) that specializes in tax accounting.

On the other hand, a large company will more likely benefit from an in-house accountant. Big businesses deal with a high volume of financial transactions on a regular basis. When a company’s revenue grows, financial upkeep becomes more complex. Consulting with an external accountant can also be costly as a business gets larger. This makes it more favorable for big businesses to employ their own accountant.

Look for Certification and Experience

Note that not all accountants are certified public accountants. A CPA certification ensures that the accountant has completed an undergraduate degree and has passed the country’s CPA board examination. CPAs must also obtain relevant accounting experience before they are properly verified. To know if a potential candidate is CPA certified, companies can check with the Philippine Institute of Certified Public Accountants (PIPAC) website. PIPAC is an organization that has a directory of experienced accountants, which can help companies find an accountant in any industry.

Another type of registered accounting professional is a certified management accountant or CMA. Like CPAs, CMAs must also pass a special exam and have significant accounting experience. However, a CMA is a globally recognized certification, while a CPA is a local accounting license. CMAs are specialists in corporate finance and management accounting, which is why they often work for private corporations.

Besides certifications, it’s always best to know more about a candidate’s area of expertise. Conduct an interview to find out about their background and experience. There are accountants that have significant experience working for IT companies, real estate firms, and construction companies. It’s ideal to find a candidate that has plenty of accounting experience in your industry.

Consider Trustworthiness and Dependability

Reliable accountants play a key role in positioning companies for growth. Thus, it’s important to find a dependable accountant. Efficient accounting can help businesses save more revenue, especially when tax season comes. Besides keeping financial records in order, a professional accountant manages and files business tax returns. They typically know the right deductions a company can claim to help businesses save. In the long run, finding a trustworthy accountant will not only keep your finances in order, they can also help you achieve your business goals.

Besides a trusted accountant, it’s equally crucial to upgrade your company’s accounting systems to keep up with ever changing times. ANSI is a reliable name in business accounting solutions backed by over 30 years of experience. Working with different companies over the years, ANSI provides the right accounting systems for businesses in various industries.

If you’re looking to upgrade your current software, or in need of a new accounting system, ANSI offers dependable programs for your business. With the right tools and a reliable accountant, you’re better equipped for success.