It can be said that one of the most important tasks you will ever have when it comes to your business is making sure that all your accounts are in good order. It takes a lot of effort to concentrate on your bookkeeping and accounting tasks as well as make sure that you follow all regulations and restrictions, and are fully compliant as well. With this, one of the best things you can do is hire an accountant. If you have already made that decision and are on the verge of taking the next step – that is, choosing an accountant – it’s also essential to choose one wisely. Choosing the proper accountant for your business can take some time, and you have to do it as carefully as possible. There are more than a few things you should think about as well. So what does it take to select the ideal accountant for your business? Let’s find out.
Does location make a difference?
In the past, it was important for accountants to be in close proximity to their clients and vice versa. But nowadays, more and more businesses are collaborating in the online arena, with emails, video conferences, phone calls, and the like. This option is convenient, indeed because it means that you can hire an accountant from anywhere in the world. But whilst it may work for some, there are those who prefer to have face-to-face communication with their accountant, and they also find it incredibly useful to bring their accountant along on business meetings and dealings as well. You should ask yourself if location makes a difference, but here’s one thing you should always remember: choose an accountant who is well-versed with your local council regulations and local tax laws, as advised by an expert Chelmsford accountant from CBHC.
Make sure they are qualified
Of course, no matter whether you choose an accountant nearby or in another part of the world, you also have to make sure that they are qualified. It’s best for your peace of mind to opt for an accountant who is regulated by an authority or a professional body, and depending on where you are, this could be a CPA (Certified Public Accountant), a CA (Chartered Accountant), an Association of International Accountants member, an Institute of Financial Accountants member, and so on. A chartered accountant, for instance, will be a highly-qualified specialist and professional who has completed a higher-degree of study and has the proper experience in the industry. Of course, you can also choose an accountant who isn’t chartered or who doesn’t have the equivalent qualification profession-wise, especially for more simple tasks such as bookkeeping and basic financial management, but if you opt for a loan or other form of financing in the future, it’s better to have a chartered accountant on your side. The same is true if you are scheduled for auditing.
Choose one with the proper related expertise
You will also need an accountant who has the proper experience when it comes to the preparation of tax returns as well as other essential financial paperwork and documents for businesses of the same revenue, size, or industry as yours. If the accountant has worked with a company or business in the same niche or market as yours, they should be able to understand better what your business needs. If the accountant you are eyeing has some major clients in their portfolio, this is also a good sign because it shows that they are able to handle your needs, especially over a significant period of time and as you grow.