A business is incomplete, impossible to start without getting yourself a local accountant to help you deal with the books. Surely you can do the accounts by yourself, but in a matter of a few days or weeks, the tasks will become burdensome for you. So you’ll need to get back to the initial decision of getting yourself i.e find a local accountant.
An accountant is someone who is responsible to maintain not only your books but can also guide you to properly manage the expenses and the profits. They are the live version, the walking and talking accounts of your business.
But the trouble is to find the right one that fits your business niche. You might not want to pay more than required (as a small business) but are the low-cost or freelancer accountants or tax agents the right choice for you?
Feeling troubled right? Let’s keep the factors in mind when you need to find a tax agent.
1.Does location matter?
An accountant located nearby is always the preferable option, right? However, the current practices say otherwise. They are focused on online collaborations, using cloud-based technology (like My CPA Software, etc), and making out the best from it.
This means location isn’t the issue as per thanks to the technology these days the accounting tasks are now fast forward digitally. So the decision falls down to the point of which accountant is best for your company.
If you want a face to face communication then it’s best to have someone who can attend a meeting with you and be there in person to guide you.
2. Certified v/s chartered accountant
For your sake of satisfaction, you need to hire a professional recognized by the government. So depending on your location (country-wise) there are certain titles like;
Certified Public Accountant (CPA)
Chartered Accountant
member of the Association of International Accountants
member of the Institute of Financial Accountants
Among these, the chartered accountants are highly qualified professionals with the right degree, experience, and competency. A knowledgeable tax agent will keep you informed from the start about the necessary details affecting your company’s growth.
3. Relevant expertise
Not all local accountants are suitable in every business niche. You need someone with a handful of experience to help you prepare the tax return and all financial documents. To find a tax agent who must have experience with a similar industry and work with the same size company as yours is important. If your business is thriving on cloud-based software, then you’ll want someone who is extremely savvy with cloud computing himself.
Also, see their work record (expertise), if they have larger companies as clients it means that in the future your company has the chances of growth as well. Every effort and strategy after all are co-related. Costs for accountants to do taxes may vary with their level of expertise and job designation too. So you need to ensure all the required criteria.
Talk to business associations
Small businesses are the backbone of a country’s economies. Perhaps this is the reason the government encourages the growth of small-scale businesses.
Once you enter the mainstream market, you make contacts and have engagements with other small businesses. Even the voluntary organizations and local chambers advise you on how to find a local accountant that will do your business good in the long run.
Creating a business network will pay off and you may just find the right accountant for your company.
While you are at it, also tap into the social media networks. LinkedIn is a great platform to find experts and amateur professionals too. Once you get in touch with the right accountant you can worry less and concentrate more on the business.