Hiring a professional accountant is like getting a business partner to help you manage your finances. Thus, it would be best if you got an accountant that you can trust while you’re busy managing the operational part of the firm. Accountants or accounting firms can help your company grow, and it is imperative that you get to hire the right one.
However, bringing in a fitting candidate is no easy task. Sure, you can always use the trial and error method, but it can be a waste of time and resources if you hire the wrong person. You can, however, set some parameters so you know if your accountant of choice is right.
They are certified and licensed
The first important thing that you must look for in an accountant is their professional qualification and licence acquired from authorised UK governing bodies such as the Institute of Chartered Accountants in England and Wales (ICAEW). Having such is an assurance that the accountant you are about to hire has undergone the necessary education, examinations, and related work experience.
They can effectively convey a message
Financial health is critical in every business, and your accountant must be able to explain the numbers to you with language that you can clearly understand. Your accountant can be one of your business advisors, and some critical decisions might be based on their report and recommendations. Also, financial terminologies can be confusing for non-accountants, and they should be able to explain them to you in a language that you understand.
They charge fairly
If you’re starting up, the last thing you want to spend on is an expensive retainer fee. You know you have found the right accounting firm if they’ve given you a clear picture of what kind of services you’ll be paying for. Also, they must discuss with you right away if they charge an additional fee for filing company tax returns and other services that may not be included in their original offer. In other words, their fees must be affordable enough but not to the point of being cheap.
They plan for both the short and long term
As one of your trusted team in running your business, they must be able to present you viable financial plans ahead of time rather than reacting to issues as they happen. Also, they must find a way to update you daily without the need for a meeting. Innovative business tools such as Cloud Accounting can address this concern. Discussing the numbers can help you devise a strategic plan for your business.
They work in line with your vision
Just like a company partner, your accountant must also be enthusiastic and believe in what you are trying to achieve with your venture. All businesses encounter challenging times, and the right accountant understands this, and they can help you stay on track regardless of the situation.
The key to finding the right accountant does not only end with affordability, but you must consider the qualifications and relevant work experience. And once you find the right person or team, make sure that you also show interest in the financial tracking aspect of the business. Be proactive, because, in the end, an effective business owner must see to it that things go according to plan.
