Choosing an accountant – someone that will not only have access to confidential information about your business and your employees, but may also be responsible for filing legal paperwork and providing financial advice – isn’t a decision to be taken lightly. It’s essential to ‘do your homework’, and spend a little time researching what’s best for you. So what exactly should you be on the lookout for?
While there are many aspects to consider – including whether or not a specific accountancy firm or accountant are the right fit for your business – initially you should be able to create a shortlist by taking into account two distinct aspects: accountant qualifications, and their reputation within their field.
If you don’t have a background in finance or accountancy, checking for qualifications can seem a little complicated. But don’t panic! ACCA is the main qualification to look out for as ACCA leads to a chartered accountant qualification. CFA, which focuses on corporate finance, CIMA, which focuses on financial management, and ICB, which focuses on bookkeeping, are also qualifications that you should be actively looking for. But it’s not just about schooling. A good accountant should also have solid on-the-job knowledge of common accountancy software.
As we all know, theory and practice are very different, and what looks good on paper may not seem so attractive in the real world. Believe it or not, even with social media and TV, word of mouth promotion is still one of the most valuable methods of marketing, because we tend to place more importance on information when it is received from a reputable resource. It’s well worth asking around in your local community to see if any other business has an opinion on accountancy firms in your area to avoid any potential issues arising in the future.
If you’re finding searching for the right accountant for your business to be a little daunting, we’re here to help. We help you to compare local accountancy firms in your area to find the best fit for your business, enabling you to quickly and easily take advantage of all the amazing benefits an accountant can bring. Accountants may be more valuable than you may think, helping your business to minimise costs, present more accurate financial reporting, identify new growth opportunities, and ensuring you always remain law compliant, even when the policies and regulations are changed and updated.