December 9 2015 - There are many reasons why people hire accountants for their business. From simply hiring the 'numbers guy'
to finding a solution to financial challenges in the business, an in-house accountant is a vital part of any establishment. Having a local bookkeeper
is crucial to business function and you need to look for the right person for the job.
The kind of accountant you choose will depend on the size of the company of course. Small businesses need accountants just as much
as multi-national corporations. When it comes to financial matters, it is always advisable to hire someone who is knowledgeable and experienced.
Accounting firm or inside accountant
You could hire an accounting firm to handle your accounting needs. The accounting firm may not handle the daily numbers in the
business but they will be responsible for handling regular tax returns, employee wages and monthly accounting summaries among other financial
matters. An inside accountant, on the other hand, will handle everything numbers and finances through the business' day-to-day operations. With
the development of bookkeeping software, it has become quite easy for entrepreneurs who are just starting out to handle their own accounts.
However as the business grows; it is advisable to hand over the accounting and taxes responsibilities to specialists.
It is advisable to choose an inside accountant if you want more than just basic bookkeeping and handling taxes. An inside accountant
can help with business planning and networking of the business. Most small business often do not handle large volumes of financial transactions that
warrant having a full time accountant. They can benefit from regular financial review from an accounting firm.
Accountant key qualifications
A CPA is one of the key qualifications of hiring an accountant. A Certified Personal Accountant can undergo further training to gain
Certified Management Accountant qualifications to become part of a company’s management. Industry expertise is also a key qualification for an
accountant. Different industries have different accounting needs. You should choose accounting firms that specialize in your industry for instance,
those who work with auto dealers, construction contractors and so on.
What services does your business need?
You need to take into account the kind of accounting services that your business needs from the accountant to find the right person
for the job. Do you simply need a firm to handle your tax returns and yearly financial statements or do you want tax and financial planning from
the accountant. You need to dig deeper into what the accountant has to offer and how this can benefit your business.
You can find accountants or accounting firms through business partners or friends who have used these services. You should get
referrals from people in a similar industry. Word-of-mouth is a great way to find credible candidates for your business. However, for every
referral you get, remember to conduct a background check into the firm or individual and find out their successes in accounting before hiring
them. You may have to do a trial through small projects with various accounts before settling on the one who delivers the best services.
Brendan Kain is an entrepreneurship expert and a marketing guru. You can find out more about hiring a local bookkeeper from our website.