Choosing an Accounting Service for Your Business

Whether you’re a new business or an established one, choosing the right accountant can be the difference between failure and success. In addition to the basics - doing taxes, preparing forms, and the like - a qualified accountant can help provide you with short or long term financial guidance to ensure your business is as successful as possible. But how do you choose the right account?



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Before you select an accountant, proper research is necessary. The vetting of an accountant can be done in a variety of ways, such as online reviews, but nothing beats the tried and true method of word of mouth. If you’re accountant is a Certified Public Accountant (and they should be!), then you can inquire with your state’s local CPA directory to find the best possible accountant for your specific needs.

What kind of accountant do you need? If you run a big business, and simply want the best possible information, going with an accountant from an established accounting firm is your best bet. Smaller businesses, such as start-ups, often don’t find themselves requiring the services of a full partner, or even a CPA firm’s lower level staff members, so a private accountant or bookkeeper might be your best possible option. Bear in mind, however, that a professional CPA is certified by the state, and typically has a wealth of knowledge not seen in a basic staff member or independent accountant. Many independent accountants are not certified, nor do they care liability insurance, so in the off chance that you hired one of the bad guys in the accounting industry, you pay a rather heavy price for their indiscretions or mistakes.

After your business has been established, you may need to reassess your accounting situation. Can you keep using an accountant-for-hire, or should you hire a professional accountant to bring on as a full-time staff member? The answer to this question is dependent on the type of services you need done, the size of your business, and your own experiences with an outside accountant, so be sure to choose wisely.

In the end, before choosing your accountant you should assess both your options and the services desired. Many accounting firms are specialized, so you should always formulate a bigger picture before hiring someone, lest they’re unprepared once the need for a specific service arises. This ties into the above information concerning vetting your accountant or firm, so make sure you do plenty of research and take necessary precautions before choosing an accounting service for your business.

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Posted on May 22, 2012 at 9:00 AM