5 things to know before hiring an accountant

Accounting is an art that brilliantly represents the financial situation of an entire company in a few figures. For an investor, a manager or a partner, the most important thing to consider about a business is financial reports, which are prepared after a complete accounting record. Hiring a good accountant is crucial if you want your business to prosper financially. Having adequate accounting support also ensures that you continue to comply with laws and regulations, thus avoiding problems in the future. But with so many accountants and accounting firms in the current world, how do you choose the right one? Below are some of the 5 things to know before hiring an accountant

1. Check your accreditation.

Make sure the accountant you have chosen has qualified through the Chartered Accountants Association or the Institute of Chartered Accountants. These are the leading accounting agencies in the UK.  Atkinsons, accountants in Brighton are supposed to be some of the best in the business.  Members must be held accountable for professional misconduct, which means they will get a degree of protection if things go wrong.

2. Ask if they are specializing in your industry.

Some of top accounting firms focus on certain sectors, such as doctors and health, real estate, retail, technology, and so on. Some accountants specialize in helping small businesses, while others only accept multinational clients. Choose an accountant who has many years of experience in your industry and helps clients in the same boat as you.

3. Find out about their fees.

How much do they charge? Are the rates fixed or do they have an hourly rate? Choose an accounting firm with a simple, fair and transparent rate structure. It is better to work with a company that offers fixed rates, so you know exactly what services you are receiving, and at what price. A good accountant will offer fixed rates for some work and will never do anything that involves a free bonus without asking for approval. This way, you will not receive a surprise bill at the end of the year.

4. Talk to your team and evaluate if you feel comfortable with them.

It is important that you like your attitude and how they work. After all, they will advise you on money, and you should be able to trust them while you feel comfortable enough, to be honest about your business finances. Trust your instincts You want to work with an accountant with whom you click.

5. Check how responsive they are.

A good accountant will talk to you regularly, not just once a year when tax returns come due. It’s a good approach to hire an accounting company to get help even if your chief accountant takes a break.

Medium Sized Business Sense – The Need To Know

Financial Report Creation for Small and Medium Size Businesses in South Africa

Apart from statutory requirements to be met such as annual financial report submission, businesses may also need to have audited statements for the purpose of borrowing money, getting BEE exemption, and attracting investments or for the purpose of creating records for review in a business selling transaction.

Annual and Interim Statements

We help our clients with financial reporting regarding interim and annual statements required for financing and for CIDB upgrading. Small business owners often struggle with idea of having to create such statements, but not to be concerned. We will guide you through the process and will even review the company transaction history and bank statements to create accurate and comprehensive financial reports.

Reasons for Drafting Statements

When you want to sell your business, you may find that the buyers are not willing to make a purchase offer without full financial reports. One man and small family businesses often don’t have comprehensive records, and suddenly for the first time need to create such. This is where our expertise comes in and where we turn the nightmare into a complete financial statement, ensuring that you have the required statements for the selling process. Even if you only have bank statements, we will be able to work with such.

The financial statements are also needed for tax purposes and if you operated a proprietorship until now, you may not have correct reports needed. Once again, you can rely on our assistance to ensure accurate reporting.

With the new Companies Act in place, business entities such as close corporations that want to convert to the new company categories will need to get their financial reports in order. With a professional team of accounting officers ready to assist, you don’t have to be concerned with lengthy and complicated processes.

Contact Details:

Website: http://www.fixonate.co.za/
Email: balutalo@gmail.com
: 011 492 1290
Fax: 011 492 0582

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