Helpful Tips For Choosing A Good Accounting Firm
For most entrepreneurs, it will not happen every day: choosing an accounting office for the company. Entrepreneurs enter into a long-term relationship with an accounting firm.
On average, a company remains a customer of an accounting office for about 15 years! It requires a solid choice for an office. Fortress Accounts is a Cloud based Accountancy Firm, Business Advisors and Tax Consultants that is offering corporate tax, business planning and VAT services.
Necessary for the growth of your company?
Finding the right accounting firm for your business can make a big difference to your business’s growth and prosperity. It may seem obvious, but it is still better not to choose an accountant “around the corner.” At first glance, an accounting firm that looks perfectly suitable may certainly not be the right accounting firm for your company at a later stage (of your company).
For now and for later.
Therefore, as an entrepreneur, it is essential that you pay attention to several important things now and later when selecting an accountant for your company. In the overview below, we give you some valuable tips to help you make an informed choice for an accountant for your company.
The importance of good business administration.
Correctly setting up and maintaining business administration is an essential part of your business. It forms the numerical basis of your company. But good administration of your company is also necessary for other areas.
Good administration offers you essential advantages, such as:
- Numerical insight into the performance of your company
- Time savings (a well-organized administration costs you little time and saves you time)
- Signaling (good numerical insight allows you to respond in good time to changing circumstances)
- Prepared for returns and other standard checks and tax matters
The Five tips when choosing a good accounting firm:
Tip 1: Determine whether you need an accountant or an accountant
There are apparent differences between an accounting firm (the accredited bookkeeper-tax specialist) and an accountancy firm (the accountant-tax consultant). Both can take care of your company’s administration, but there are apparent differences (also in rates). You can see it in such a way that an accountant sets up the administration, conducts, makes entries and checks all kinds of matters, and prepares them for declarations. The accountant provides the accounting audit and reports on the regularity, completeness, and fairness of the accounting and annual accounts. So first, determine what you need in your company at that time.
Tip 2: Check whether the accountant keeps up to date with his knowledge
Accounting is a profession, and thorough training precedes it. Accounting, taxation, and company law are matters that regularly change. That is why an accountant-tax specialist BIBF (Professional Institute of Accredited Bookkeepers and Tax Lawyers), will provide sufficient additional training every year so that you are always assured of up-to-date advice and assistance. Inquire about the extent and way an accounting firm keeps the accountant’s knowledge (s) within the office up-to-date.
Tip 3: Does the office have experience in your industry?
Every subject is different. Every industry has its specifics, sometimes also tax and administrative. In addition to general accounting knowledge, it may be necessary that your accountant has experience in keeping records for companies within your industry.
If an accountant already has extensive experience with entrepreneurs in your industry, this may mean that this accountant also has specific knowledge that is important in your industry. You can think of VAT-related matters, special tax regulations for that sector, tax matters, et cetera.
If an accountant has to sort out everything for you first, this can be financially disadvantageous. You don’t bring your shoes to the bakery to have them fitted with new soles, do you ?
Note: Always do your research. Don’t rely on a tip from an industry colleague.
Tip 4: Check whether the accountant keeps up with the times in terms of technology
Technological developments are also ongoing in the accounting sector. You may be used to working with a specific accounting program. Then this can be a factor that you take into account when choosing an accounting firm. It can cost you a lot of time and money to train you or your staff in working with a new accounting package. Does an office work with advanced software, or does it work with its package that is not very well known; this could also be detrimental to you in the future. The accountant must be up-to-date in terms of knowledge and the accounting program that will be used for your administration. To ask is to know!
Tip 5: Have an exploratory meeting with at least two accountants
When you have selected a few suitable offices, and they have answered your questions to your liking, we advise you to have an exploratory meeting with at least two offices. One choice equals no choice! During a conversation, you always become wiser and what is essential is that you make the final choice for an accountant yourself.
In addition to the fact that you can compare (the conditions) very well with two conversations, you can also immediately determine which accountant you have the best click. After all, you will hand over a vital business unit to an office with which you also maintain regular contact.