Did you know that over sixty percent of small businesses have in-house accountants? Yet, while having an accountant on staff is the most popular choice, there are benefits to outsourcing your finances to an accounting service, such as saving money.
Still, choosing an accounting service can be a challenge, especially if you don’t know much about the field. That’s why we’ve put together this brief accounting service hiring guide. So, keep reading to learn what questions you should ask potential accountants!
What Services Do You Provide?
Just as doctors can specialize in certain fields, such as cardiology, some accountants are more qualified than others in particular areas. For example, while one accountant may be a tax expert, another focuses on business performance. Although it’s possible to find someone who knows both areas, it’s best to prioritize the services you need the most.
So, before you even contact an accountant for more info, think about what your business needs. Doing so will help you find a suitable professional.
Moreover, you may want to hire two accountants- one for taxes and another for helping your business succeed.
In Which Industries Do You Specialize?
The needs of your business largely depend on the industry in which you work. Therefore, it’s helpful to find a professional who has knowledge and experience in your field, as they’ll be able to get up to speed on business performance quicker and understand the terms used in your industry.
Of course, it may cost more to find a professional accountant with experience in your business industry, but the results will likely pay for themselves.
What’s Your Pricing Model?
Usually, accounting services either charge by the hour or a flat fee. Both models have pros and cons, so it’s important to investigate your potential accountant’s quality of work.
For example, you may save money by hiring your accountant by the hour if they are efficient. However, the opposite is true if they aren’t competent.
Still, if your accountant charges you a flat fee, they may cut corners instead of providing the entire scope of services.
Thus, we can say that neither model is better nor worse as long as your accountants are qualified and honest.
May I Speak to Your References?
Just as when paying for any other service, it’s a good idea to ask an accountant for references before hiring them. Some questions you might ask include:
- Did the accountant complete the project on time?
- Was their work accurate?
- Did the accountant communicate effectively?
- Has this accountant improved your business performance?
Of course, previous clients’ answers will tell you whether the accountant is a good fit for your business.
Find the Best Accounting Service for Your Business!
After reading this short accounting service guide, you have a better idea of what to look for in an accounting service. Of course, it may take some time to find the perfect professional for your business, but once you do, the benefits will outweigh all the effort!
If you found these accounting service tips helpful, browse more posts on our website that can help you run a successful business!