Top Five Things To Look For When Hiring An Accountant
The benefits of enlisting the services of efficient and professional accountants are innumerable. Whether it is gaining more tax savings or better organization of your financial affairs, professional accountants keep track of your business’ income, assets, and liabilities, allowing you to focus on growing your business.
Accountants prepare and examine financial records, and help you with tax filing, bookkeeping, and payroll services. They offer tax advice, prepare financial statements and can also help with business decisions.
However, with a slew of professional accounting agencies out there, picking an accountant that will help you, can pose a challenge. To help you figure out how you should select an accountant, we’ve compiled a checklist of the top five essentials to look out for in an accountant.
1. Must be adequately qualified.
Educational qualifications and certifications are primary ingredients for success in the accounting field. Working with a qualified accountant ensures that they have a working knowledge of the theoretical aspects of accounting. Don’t be shy about asking for evidence of qualifications – ask for their CPA member number. Go online to CPA Canada and search the database for their name. Ask to see their certificates or look around the office for certificates. Ask them about the training courses they have attended.
2. Should have practical knowledge and experience.
Along with qualifications, an accountant should have practical knowledge, which should be backed by experience. In real life situations, a business will face a number of finance and accounting related issues, which an accountant will be able to deal with only if they have practical experience in the field. Ask them to tell you about the industries of their clients and the unique aspects of those industries.
3. Must be organized.
Every accountant goes through a lot of documents, both in physical and in digital format. The sheer volume of files, documents and archives are so much that they will lose their way if they are not systematic. Therefore, it is of utmost importance for an accountant to be organized in their approach. If they are organized, they will be able to come out with explanations promptly, which will help you immensely as a client.
4. Should be approachable.
Often, you may not understand accounting jargon or certain technical aspects. In such situations, it will help if the accountant is approachable and willing to explain it to you in the simplest possible manner. If an accountant is not approachable, it may affect your understanding of your finances. Every business has its own language so ask for explanations of the terminology used if you don’t understand it.
5. Offer more than just managing the numbers.
Apart from just managing your finances, an accountant should be able to help you improve cash flow management, enhance business growth and work within a strapped budget. Along with financial management, an accountant should also offer you a holistic perspective of the business. Ask for a full discussion of all the services offered.
If you are looking for a professional accounting firm across Gravenhurst, Huntsville, Bracebridge, Rosseau, Dorset, Orillia, Barrie, Innisfil, and Parry Sound, ON, reach out to Morley Chartered Professional Accountant. We provide customized accounting services for owner-managed businesses and have close to three decades of experience in providing accounting, tax and business advice to clients. To learn more about the services we offer, please click here. To get in touch with us, please click here.