Many businesses have been relying on accountants for years, and if your small or medium-sized enterprise is growing and you want the best advice in order to move forward and make the best decisions, you may be considering seeking help from an accountant as well. Accountants aren’t just there to take care of your books (a bookkeeper can do this task as well) – they are there to give you advice and perform specific and complex tasks such as take care of your tax returns, VAT, audits and annual reports, and so on. But it’s one thing to decide that an accountant is best for your needs, and another to choose the right one. Here, then, are the top factors you need to consider when selecting an accountant for your business.
- Think about their qualifications and certifications
First of all, think about their qualifications and certifications. If you want more peace of mind when selecting your accountant, it would be best if they were regulated by an authority or professional body or the government. With this in mind, choose an accountant who is chartered. A chartered accountant or CA would be appropriately skilled and qualified as they have completed and finished a higher degree of study, and they would usually be equipped with the right work experience and have participated in a programme to ensure their competence.
You can still opt for an accountant who is not chartered, particularly for the management of your finances and for general tax preparation and bookkeeping, but if you are planning to apply for a loan or are audited, it’s best to have a chartered accountant by your side.
- Determine their expertise
You also need an accountant with the right expertise and experience when it comes to the preparation of tax returns and other financial paperwork and documents for businesses in the same or similar industry, size, or revenue as yours. If you make use of software for your business, you want someone who is also adept with your software – or can give you recommendations and support for the proper software you need. The accountants from www.gsmaccountants.co.uk, for instance, are fully adept in terms of managing different kinds of businesses from different industries.
You can also ask your prospective accountant if they can present you with a list of their clients they have worked with in the past. If they have any large clients, this would be a good sign because it means they can adapt to your company as you grow and evolve.
- Consider their location
While you can always get an accountant on the other side of the country or even overseas, it would be wise to get an accountant who is near you if you want to meet with them occasionally or if you would like to bring them to meetings and conferences or get someone who can at least travel quickly to where you are located. If you are fine with virtual contact via email or video conferencing, then you can basically get an accountant from anywhere. But regardless of if you choose an accountant near you or in another location entirely, keep their expertise and experience in mind and make sure they understand your full needs and requirements and can meet them.