- July 17, 2017
- Posted by: Rivero, Gordimer & Company
- Category: Business Advice
We’re in the age of the small business, with thousands of new ventures taking shape each and every day. If you are an entrepreneur or an owner of a company, you are always on the lookout for ways to grow your enterprise and make savvy decisions that will put you on the path to sustainable success.
But don’t invest in sharp marketing campaigns or new product development, without first hiring a qualified business accountant or CPA. This one move could be the best economic decision you’ll make in terms of your company. But where is the best place to start?
There are many experienced accountants out there, so how do you know which one is right for you and your vision? When you ask the right questions and gather important information, this decision will be significantly easier. Below are just a few questions that you should start with as you look to hire a business accountant.
Are you available all year round?
On occasion, you will find business accountants that only specialize in taxes, and only work for a portion of the year. Unless you are only interested in occasional tax-specific assistance, make sure you understand the accountant’s availability before moving forward. Most businesses require more regular and consistent help from a CPA and could find it debilitating to only communicate for a few months out of the year.
What industry do you specialize in?
To ensure smooth communication and a mutually beneficial relationship, look for an accountant that is familiar with your industry, and small business in general. When you work with someone that speaks your language, and can anticipate financial or tax issues that are specific to your field, you will get the most out of your time together.
Quality accountants will look to provide strategic plans and business applications based on their numbers and data. Thus, having experience and knowledge of an industry can help that CPA provide better advice and recommendations.
What is your billing structure and policy?
Some business CPAs charge per hour, others charge a flat fee for services, so make sure that you are crystal clear on how much you will be paying your accountant, and how often. Keep an eye out for CPAs whose services can be tailored to your needs, depending on how much you want to be involved in your bookkeeping and financial management.
What will you expect from me?
In most cases, accountants will require some measure of participation on your part, for things like record transfers, invoicing, occasional meetings, and more. Ask them what kinds of records you will be responsible for, and what methods of communication they prefer. Know ahead of time how many hours you will be investing in your end of the accounting relationship.
The expectations extend beyond what you deliver to your accountant. You must also outline their communication expectations. If you require a quick turnaround for a report or filing, then you must be available to answer questions and provide feedback quickly. A great accounting relationship requires solid communication and clear expectations.
Tell me about your education and experience?
There are many different specialties within the accounting industry, and several different credentials that you should be aware of. Don’t be afraid to ask about an accountant’s educational background, their professional memberships or certifications, and their experience dealing with the IRS or other governing agencies that are relevant to your operations. This person will be joining your company’s team, so make sure they are qualified to do so!
When you are ready to start your search for a small business accountant, get in touch with our qualified team of CPAs. Rivero, Gordimer & Company is a Tampa CPA Firm with the expertise and experience to take your business accounting to the next level!