Hiring a small business accountant is not a task to be taken lightly. You literally hand over the keys to your domain to your accountant, all the more reason why you need to take care and think through before you make a decision. So what should you look for in an accountant? He should have thorough knowledge and understanding of bookkeeping and accounting principles, which of course is a given. Here are some other things you need to watch out for when hiring a small business accountant.
- Should Understand Your Industry– Each industry has its set of specific functions and terms. Familiarity with the industry and its workings will make it easier for the accountant and you to work together. Experience in your field can make things a lot easier for the both of you.
- Effective Communication Skills– No relationship, business or personal, can be effective unless both parties can communicate with each other. Communication involves not just talking, but being able to present ideas, listen, understand and interact. Your business cannot grow until your accountant can communicate with you and with all other people involved directly or indirectly with your books and accounts.
- Has Basic Computer Knowledge and Uses Latest Software– It is no longer the age of ledgers; today everything is online or cloud based. You need an accountant who is in keeping with the times, well aware of developments in the field of accounting and uses the latest tools and software available.
- Provide Regular Accounting Reports– Financial reports are valuable to a business owner. They provide information about the business, trends, cash flow, profit and loss, all of which are needed to make informed business decisions. A reliable small business accountant will provide you with timely accurate reports, decipher them for you if needed and guide you when making decisions.
Choose your accountant wisely. Take your time, do research, talk to your peers and other businessmen before you decide.