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.

Trusted Sources For Business Intelligence

 

One of our goals in Business Services is to become a trusted advisor of our business owner client. Many times the only time an owner thinks about employee benefits or the rising costs of medical insurance is at renewal time, or the anniversary date of the group plan. He or she would rather continue to focus on running his or her business, e.g., making widgets or providing services to their customers. But when the group medical insurance premiums have double digit increases for three or four years in a row, those costs are out of control and hurting the bottom line.

With a new referral or new prospect, we need to demonstrate in a very short period of time that we can help. That is when we rely on the many years of experience Dennis Flem (CLU, ChFC, Vice President), Kent Brady (Vice President, Business Services), and Melissa Deitrick (Account Manager) to deal with these issues. Employers will frequently comment on the difficulty of keeping current with government regulations and rules for insurance and employee benefits. We can often establish credibility early by reciting some of the many options a business has to control the costs of benefits through cafeteria plans, medical reimbursement plans, health reimbursement arrangements, healthcare savings accounts or consumer directed health insurance. We ask questions, we listen carefully, and hopefully, begin building a relationship that allows us to become a trusted advisor.

As a licensed broker, we shop the market for all available group medical plans in the state. We prepare a 20 page analysis of benefit choices, based on what we have learned about the owner’s business. A favorite feature of our proposal is the Executive Summary that condenses all of our research to one page for decision making. We review the possible solutions with the owner and many times earn the right to do business with our new business owner client.