If you have made the decision to hire an accountant for your business, it’s a decision that’s not to be taken lightly. They should, after all, be your partner when it comes to your financial matters and financial considerations, and they should also be able to give you highly relevant advice when it comes to making financial decisions that can impact your company for the long- or short-term. It’s in your best interest to choose your accountant with several key factors in mind, and if you choose the right one, you can definitely save time and effort as well as expense, particularly if they can help you with your taxes and keep you updated on various regulations and legislation. But how can you choose the best accountant for your business? Here’s how you can choose the ideal accountant for your business’ needs.
Choose one who is chartered or certified
If you want peace of mind when it comes to your choice in accountant, it’s best to choose one who is regulated or recognised by an authority or professional organisation or body. This means that it’s better if they are a certified public accountant, a chartered accountant, a member of the AIA or Association of International Accountants, a member of the IFA or Institute of Financial Accountants, or a member of any other professional body. A chartered accountant or CA will be a qualified professional who has completed a higher-level degree who also has relevant experience in their profession and who has completed a professional programme for competence.
You can also hire accountants who are not chartered if you are simply looking for bookkeeping and financial management as well as tax preparation assistance, but if you are audited or would like to apply for a loan, it’s better to go with someone with a higher qualification.
Look for the right expertise
You would also do better to choose someone with relevant experience, especially in regard to the preparation of financial paperwork and documents as well as tax returns for a business that is of the same or similar size as well as revenue to your business. If you can find an accountant who has also worked with businesses in the same sector as yours, this is even better because they may already have a good idea of what your business needs, as confirmed by the central London accountants from Griffin Stone Moscrop & Co.
If the accountant you have in mind can provide you with information on their existing clients, especially bigger clients, this can also be a good sign. It means that they may be suited to handling your needs as you grow as well.
Find an accountant through business associations and the government
If you can, try to take advantage of business advisor networks to find out how you can choose the ideal accountant. There are many organisations with voluntary members as well as locally-based chambers of commerce who can give you sound advice on which accountants you can use. You can also talk to the owners of other businesses and see if they can recommend an accountant they have worked with or continue to work with, so you can make a list of prospective accountants or accountancy services as well.
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