Starting your own business can present any number of challenges, and almost any new business owner must learn to wear many hats just to survive. However, most business owners will agree that an accountant is one of the first professionals you should consider hiring. An accountant can potentially provide the following kinds of service to a small business:
* bookkeeping,
* tax and financial reporting,
* periodic audits of your books.
Referrals are the best way to arrive at a short list of potential candidates. Ask the referrer what his or her relationship is with the accountant and if she has ever used this accountant before. Is this a reciprocal arrangement where this person refers potential clients to the accountant in exchange for the same courtesy? If so, that person may not have your best interest at heart when he or she makes the referral.
When interviewing the accountant, ask about credentials (i.e., CPA, accounting degree?) and years of experience.
* Do she or he have other clients in the same type of business as yours ?
* What kinds of rates does this person charge?
* What level of service will they provide for that fee?
* Will they consider a flat monthly fee for an agreed-upon list of services?
* What is the turnaround time?
* Will they take time to explain the financial statements to you each month, or do their responsibilities end when they mail you the information?
Finally ask for references. What does your banker and attorney say about this accountant?
The best litmus test for a top-notch accountant is satisfied customers.
