?The success of a business depends on a good accountant?.?But there?s a daunting array of accounting firms to choose from??? from sole practitioners to huge national firms, from generalists to highly specialized CPAs.
?Requirements for people in the accounting service, the industry itself, and tax regulations are all changing?. With that being said,?how do you choose the best?accounting firms?for your small business accounting needs??
Start by considering both your preferences and your requirements:
?Size of the Service?:
Is the one-on-one contact typical of a smaller accounting firm important to you??Or would you feel more comfortable dealing with a team of small business accounting specialists, which is more common at mid- to large-size firms? Larger firms may subcontract out your work or assign it to junior staff.??Be certain who exactly will be working on your account and make sure you are comfortable with that person.
?Specialization is Good??:
?Accountants certainly narrow their range of specialization because accounting is a vastly braod profession. Accounting firms may or may not have the expertise you need.?Be certain to ask in which area a company focuses its work and what experience it has. Some firms belong to nationwide networks of similar firms,??so if they need help on a certian issue they will have someone higher to turn to.
Complexity and Level of Business Support?:
Do you need an accounting firm only to prepare tax returns and year-end financial statements? Or do you also need tax and financial planning advice,??help with retirement and business planning?? Do you need employee benefits plan design,?computer system installation and support, or QuickBooks training? Since this will likely be a long-term relationship you should consider not just your immediate needs,?but all the possible future needs you may have?.??It obviously makes sense to be involved with a firm that holds experience in many fields?. Better accounting firms have a structured discovery process that helps you identify the level of business support that is right for you in a comfortable, no-pressure fashion.
Reputation?:
Be sure to ask for references.?Even if you don?t plan to contact the references, ask for them.?If an accountant does not have a list of clients who are happy to endorse him or her, that should raise a red flag?.
?Your Accountant Should Have Many Qualifications?:
Another result of the field of accounting being so broad,?is the large range of qualifications of people practicing in the field. This topic is discussed in more depth in the articleCertified Public Accountant?, Accountant, or Enrolled Agent ? Which do You Need? http://www.efs-tax-accounting.com/cpa/
Final thoughts:
Choosing the right accountant for your small business can mean the difference between success and failure?. After all,?it?s your financial numbers that make or break your business. Once you?ve worked with and developed a relationship with an accountant, it can seem hard to switch. For this reason,?many businesses continue to work with a mediocre accountant rather than take the time and effort to find better service. In reality though,?making the switch to better service is not difficult and your new accountant can handle the details on your behalf, even passing along the bad news to your old accounting firm.
Klein, Hall & Associates provide many services to small businesses,?Click here?to learn more about them.
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