What you should know before hiring an accountant

What you should know before hiring an accountant

Good accountants are important for any business, especially when it comes to managing a remote accounting team. They are responsible for ensuring that your clients are compliant with all regulatory requirements and tax laws. They also provided that the financial statements are accurate, and help to mitigate risk.

When choosing an accountant, it is vital to consider their experience level as this will determine what type of services they can offer your firm. It’s also important to have a conversation about how much work you want them to do. This is so you know if they’re someone who would be a good fit before signing on!

Here are some things you have to consider before hiring an accountant in your remote accounting team:

Value for Money

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Nowadays, accountants in small businesses can do just about anything from day-to-day bookkeeping to representing you in a tax audit. Before hiring an accountant for your remote accounting team, you need to make your requirements clear. Do you need an accountant who can advise your clients in crafting a business plan or assist them in financial projections preparations so they can secure a business loan? Will you only require these services in the future, or is it possible that your needs can change? It’s always good to know what services you can afford at the price you are offering. It is essential that you look for someone who can build a relationship with your clients and help them grow their business, in turn growing yours.

Do you really need a CPA?

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A CPA or a certified public accountant is an accounting professional with a college degree who has passed professional examinations and met the state’s licensing requirements. Since CPAs can represent taxpayers in IRS audits, they are authorized to take on more responsibilities than other accountants. Hiring a CPA for your remote accounting firm might be a good choice for you if you think you can only trust a certified professional for your clients or if you need any of the special services only CPAs can perform. However, if your budget is tight and your needs are relatively straightforward, maybe you should consider hiring an accountant who is not a CPA who will also charge you less.

Get Referrals From People You Trust

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The absolute best way to find trusted professional accountants is through referrals. Ask your colleagues and friends if they know anyone who they think will work well in your remote accounting team. You can also find  CPA listings online on the websites of the Canadian Institute of Chartered Accountants.

Check Their References

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It is always a good idea to ask potential accountants for client references, particularly from clients in your industry. Ask their references about their time working for them to get an in-depth view of how efficient and effective the resource is and if they will work well as a virtual accountant.

Know Your Bottom Line

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Handing over your client’s books to an accountant does not mean giving total responsibility for the financial health of your client’s business over to someone else. You must understand the financial situation of their business. This is so that you know what you’re asking the accountant to do and see if they’re doing it right or not. It is your job to ensure your accountant provides your accounting clients with the level of service they deserve. Lastly, accountants are not monetary wizards, so don’t make them solely responsible for your financial success.

Conclusion

When you’re ready to hire an accountant, it can be tough to know where to start. But by following these guidelines, you should feel more confident in the decision-making process. Remember that not all CPAs are created equal, and some may specialize in specific industries or types of accounting services for which they charge a fee. We don’t want you hiring someone without knowing what skillset they have.

If you need any more help hiring good accountants for your remote accounting team, we at Accountroots are here for you. Schedule a meeting and start your outsourcing journey today!

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