Accounting Expertise and Impact to your Business
A reliable accountant records essential business transaction with proper categorization. If you’re unaware of the advances in accounting, more or less you will still be using the conventional ways – spreadsheets. However, professional accountants do their very best to be aware of the newest trends and advances in the field. Most likely, these professionals will recommend using and adopting online bookkeeping software such as Xero, MYOB and QuickBooks for faster and more advanced bookkeeping procedures.
They are also experts in creating detailed expense reports to assist you with financial planning and decision making. Most importantly, reliable accountants will prepare your business’ year-end transactions so your company can make necessary adjustment on prepaid expenses, interest income and bad debts and avoid potential tax issues .
Getting the Right professional On-board
If you’re looking forward of hiring a reliable accountant and bookkeeping professional for your business, you should understand that not all services are created equal. Every accountant should have a number of other essential skills to resolve financial discrepancies and forecast future problems. Your success will depend on the person’s initiative, expertise and attention to details. So, the question is how do you get the right person onboard? Here are the 3 ways to make hiring an accountant less risky.
Step 1 – Check for skills, experience and credentialing. Someone who has established proper qualifications and good reputation in the field is an ideal candidate. We recommend running a thorough verification of your potential candidate’s skills, experience and proper credentials to ensure that you are getting a licensed and competent bookkeeper. To further your research you can check out reliable third party websites to give you comprehensive details of the person’s background, experience and expertise. You can visit the Better Business Bureau or the Superior Buyers Report for consumer reviews.
Step 2 – Assess their skills and expertise. While it is not enough to look at the records to know if the person is highly-skilled for the job it is recommended to meet your potential candidates in person. This way, you can be able to assess their skills and expertise by asking the right questions. You can ask anything to related to modern accounting procedures, software and tools they recommend of using and their familiarity with your industry. When you hire a competent professional on the job, this can shorten the learning curve and may provide you better details.
Step 3 – Make comparison and judgment. Hiring an accountant to entrust the most important aspect of your business must never be taken lightly. Without proper financial reports you may face painful consequences. Keep at least three potential candidates on your list and make comparison of their services, skills set, experience and rates. Remember that you should hire a professional accounting service that gives the value for the money that you’re spending. Once you have a clear idea who fits the job based on your criteria, make your judgment.