Accounting is done in every company. It can be done by an entrepreneur himself, he can have his own accountant, but he can decide on the most popular solution – the choice of an accounting service.
One of the functions of accounting is to provide information and report to external and internal users, but entrepreneurs face other challenges related to business control.
Above all, you need useful and timely information to make your decision easier, so here are some key questions to ask before hiring an accounting service provider.
However, we entrust such important activity within the company to unverified persons or insufficiently qualified accounting service. But how do you choose the right person among those that provide accounting services? Your answers to some of the key questions that you would be wise to ask yourself before making a final decision about your accounting service can help you in this matter.
What questions do entrepreneurs need to ask themselves?
We hope the tips below will help you make the right decision (or improve your relationship with your current accountant).
1. What does your company need?
Remember the first and most important question. Are you looking for an accountant? Someone just booked past events? Send reports to the state? Payroll? Share any tax advice with you? There are many accounting services in the market that offer different levels of service. It is a good idea to first explain to yourself what you expect from the accounting service.
2. Are they experts in the services you are looking for?
Some accounting services specialize in certain areas or even industries. Working with them can bring you many benefits as these partners with their relevant knowledge, advice and guidance can greatly assist you in making the right business decisions in your company.
3. Will I get the correct information?
Today, accounting services are mostly concerned with external reports, and mainly reporting to the state. However, this information is not accurate enough for entrepreneurs and does not give them a true message about the company’s operations. Therefore, it is useful for accounting to prepare such reports that highlight risks or opportunities.
4. How experienced are they?
More importantly, how important is it to have experience working with a company similar to yours? Is it possible that they have learned some important lessons that will also help you in cooperation with a similar organization?
5. Will the accountant warn me of business errors?
If you want to be truly happy with the services of your chosen accountant, let him monitor your work. Let him (really) review your invoices issued and received and advise you on how and how to improve your business (in the future); Also in terms of tax exemption. It makes sense for accounting to constantly alert you to errors.
6. Where is it located? Is the location important to you?
With the advent of modern technologies (especially cloud computing), the location of the accounting service has become much less important. Some software solutions even allow digital delivery of received documents (such as invoices) to the service, which means no more monthly trips and personal delivery.
7. What is their reputation?
Are they recommended by any of your friends? What can they tell you about them? What do others think of accounting services? How many clients and how many references do they have? What is their online presence?
8. What was your first impression of the meeting?
Are they professionals? Did they ask enough questions and try to get to know you better? Did they instill in you a sense of confidence?
9. In what way and how often will the contact be made?
Will you have to hand in the invoices you’ve received in physical form, or allow it to be sent to them electronically? Do they give you access to (up-to-date) information about your company’s business? Are you there for any questions, clarifications and advice?
10. Will I be able to access my data? Even out of the office?
Often entrepreneurs hire an accounting service provider, who correctly enters all data (received and issued invoices) into the accounting program and informs them in December or later how much tax the company will have to pay in the next year. If accounting doesn’t send out regular reports, managers won’t have insight into the company’s operations, and every interim balance sheet is (most likely) dictated by the accounting service.
Modern and increasingly flexible entrepreneurs are recognizing the importance of constant access to information via their phone or tablet—and most importantly because they travel a lot or often do work outside of the office. If you are one of them, check whether the accounting system for the accounting you have chosen allows this.
You can find 5 additional questions on accbox.net that you should ask yourself before choosing an accounting service.
How can a businessman support the provision of accounting services?
- It issues an invoice using a custom program (not in Microsoft Word or Excel) and therefore writes it directly to the system.
- He picks up the document with a scanner or phone and sends it to the system, and the accountant only books the invoice, without manually rewriting it.
- It carries out its activities on an ongoing basis and thus gains insight into its operations.
There are accounting and business software on the market that allow you to perform routine work quickly and efficiently. Entrepreneurs can provide a lot of bookkeeping work with the right software and be proactive, thus enabling them to focus on business analysis and consulting, which is also their main task.
Do your homework, get to know your future partners, ask enough questions, and at the same time trust your intuition.
Good accountants will help you grow your business and achieve your business goals!
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