Are you in the market for the best accounting outsource services? If you are, you need to watch out for specific qualifications, qualities, and traits. Asking questions can help you decipher whether a potential accountant is a right fit for your business, or if you should keep on searching.
Questions are a great way to learn because they help you obtain information. When looking for an accountant to help with your business needs, it’s critical to ask them the right questions so you can get a feel of what they are about and the value that they plan to bring on the table. Asking questions gives you the best shot at knowing the qualifications of the potential accountant, their experience, as well as their interest in helping you take care of the accounting tasks. But even more importantly, questions allow you to determine whether you’re comfortable working with the potential individual or company or not. With that in mind, let’s have a look at a list of questions to ask a potential accounting before bringing them onboard.
What’s your level of experience?
There are all manners of accountants in the market. Some are just fresh from college, while others have been around long enough to gather critical industry experience. When looking for the best accounting outsource services, you want to work with an experienced accountant, preferably one that has practiced for years. Asking this question allows you to hear it straight from the accountant’s mouth about the number of years they have been in operation and the clients that they have served through this time.
Which areas are you specialized in?
Accountants, like lawyers and doctors, specialize in specific fields. Specialization allows an accountant to focus their efforts on a narrow area of the industry as opposed to doing everything. When it comes to the execution of accounting tasks, it is in your best interest to rely on a specialist to get the work done right. A good accountant should have a degree in a specific area and also adequate experience helping clients within the specialty area. Some types of specializations available in accounting include management or managerial accounting, auditing and forensic accounting, financial accounting, and tax accounting.
Do you have a track record of repeated success?
Asking about the accountant’s track record of repeated success allows you to gain perspective of what to expect working with them. Of course, you want to work with an accountant who has more successes helping clients than failures. By success, we mean aspects like streamlining business accounting systems, saving business money, helping grow businesses, etc. The idea is to find an accountant who has an excellent track record of assisting clients in accomplishing their goals.
How will you streamline my business accounting systems?
Asking this question will help you gain insights into their processes and how the accountant plans to execute their work. After all, the main reason you are outsourcing the job is that your accounting systems are out of control. It could be that you have stacks of paper documents all over your office – or that you want to shift to a paperless operation but have no idea where to begin. A good accountant will have the right expertise and software in place to help them streamline processes. They will also incorporate different aspects so you can perform all your business in a single place. For instance, they may design an efficient payroll system that allows you and your team to access pay information with a click of a button.
How will you help me grow my business?
One of the main reasons you are outsourcing your accounting needs is just so the accountant can help you grow your business. Your accountant should, therefore, be in a position to help you make sense of your finances, providing a big picture perspective so you can come with a plan of where you will be in the next few years. The accountant should talk about pricing strategies, money saving strategies, and loans, and overdrafts. It is an added advantage if they offer to support you sell shares, find angel investors and crowdfund.
Do you think I should make some changes to help my business?
Your accountant is an expert in finances and taxes, meaning he or she knows how to examine and understand all the financial data you gather daily. It’s easy to get caught up in the daily endeavors that you fail to plan for the big picture. But since the accountant is an expert on these subject matters, they can help you prepare for the big picture.
Are there any industry-specific tax laws that I should be aware of?
Industry-specific regulations, subsidies, grants, and corresponding deadlines can significantly affect your business. A good accountant can help you avoid paying unnecessary taxes and ensure that you remain compliant.
With these questions, you will not only identify a qualified attorney that good for your business but one that’s a perfect fit for your needs.