Picking the Best Accountant for You and Your Business

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University.

Now that you know what a business accountant does, you may wonder how to find one for your small business. Whether you’d prefer to advertise a job opening or seek out an accountant on your own, read through these steps to find out how to hire an accountant for your business. But like all business decisions, you want to ensure you’re making the right one. To help you decide if hiring an accountant is right for you, read through our ultimate guide for hiring an accountant for small business. If you want a single accounting professional for your business, a firm may not be the best route.

Prepare interview questions.

But for those needing accounting services and without a preference for an individual, an accounting firm is worth considering. You should hire an accountant when the tracking, analysis and reporting of all the financial information related to your business are too complicated or overwhelming for you. Outsourcing this service gives you the time to stay in your zone of genius and keep working on what you are best at.

Accountants also take a macro perspective when analyzing financial statements. They assess enterprise-wide cash flows and expenses, highlighting ways to save money or grow revenues. All business decisions have a financial cost, but not all businesses how to hire an accountant employ experts to make financial projections and establish project costs. Accounting advice helps you plan realistic budgets and determine which course of action to take. Yes, it is possible to do your own accounting for your small business.

How to Hire the Right Accountant for Your Business

Your work isn't over once you've hired an accountant — you now need to onboard them. The level of onboarding can vary depending on the accountant's experience. If you hired a seasoned veteran with experience in your particular industry, your onboarding will likely consist of little more than teaching them about your company. Automating invoices, expense tracking, inventory management, and transaction categorization saves tons of time.

• It's also vital to let your accountant know about any kind of reporting preferences here.
• Pre-set tests for financial analyst and accounting clerk roles make the testing process even easier, but you can customize tests to suit role requirements.
• The process of hiring the right accountant is similar to that of hiring any other employee for your business.
• This helps determine whether partnering with an outsourced accounting firm or hiring an individual part-time bookkeeper best suits your needs and budget.
• You are essentially giving a stranger access to all of your personal information, and you have the right to feel comfortable with them.

Beyond Quickbooks and Xero, tools like Freshbooks, Sage, Fyle, and Spendesk are affordable options. With ample time and dedication, it's feasible for business owners to educate themselves on accounting fundamentals. Your local community college or online learning platforms like Udemy offer introductory accounting courses and training. Put simply - anytime your finances escalate beyond very basic bookkeeping, it's wise to partner with a qualified accountant or accounting firm. Their financial oversight and guidance only become more invaluable as your company evolves. Accountants can also help you decide which accounting method you should use.