How do I select the right accountant for my business?
When it comes to the sharing of critical financial data with any third party, business owners need to take many precautions. The selection of the best accountant cannot be based on just the experience and the qualifications. In fact, one should make an attempt to get deeper factors which will help them make a better selection of the accountant.
You can start the process by asking around to colleagues and acquaintances and see if they happen to know of a good accountant. If they do then you can get a personal recommendation.
You can also search online for modern accountants or use a helpful directory such as http://www.accountant-directory.co.uk/
However what other options do you have?
Below are the factors you should consider when making this crucial business decision.
Qualification: Having a set minimum qualifying criteria for the selection of a bookkeeper is essential but not the deciding factor. Anyone with the apt qualification may not have the right experience when it comes to dealing with your case. If you look to hire an accountant to take care of your company's financials because of the financial constraints, you need to hire someone with a higher degree in the relevant field.
Experience: One should focus on hiring accountants who are qualified and have experience in dealing with the accounting software systems such as Xero. An accountant who has vast experience and great qualification but nothing in your business domain may not be the right choice.
Credibility and reliability: Do not hesitate to ask for testimonials from the accountants. Seeing the feedback of those who have been the clients of the accountant can offer you valuable information with regards to the level and the quality of services offered by the accountant. One should also check on the regularity and timelines of the services offered. This will give an insight into the reliability of the accountants.
Certifications: If you look for an accountant who is a member of the ICB or the Institute of Certified Bookkeepers, you can be relieved that they stick to the code of ethics. One should ask for the membership codes and numbers before making a hiring decision.
Other factors: If you are a start-up or at the levels where managing your financial records is getting difficult, it is better to hire the professional accountants. With their experience and expertise in the field, they can save you from any losses that might arise on account proper documentation of the financial statements and records.
These are just some of the factors that can help one take the right decision when it comes to the selection of the best accountant.
About the author
Ruth Noel helps creatives build a lifetime legacy by starting up your own company. She also provides complete Done For You accounting for growing tech businesses and the founder of Tax Twerk.
"If personal wealth, freedom or building a legacy is important to you too, let's talk." Ruth
Follow Ruth on Twitter: http://www.twitter.com/taxtwerk
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