Did you know, a record level of small businesses are enjoying a boost in profits? In light of that, more and more entrepreneurs need to hire an accountant and bookkeeper to help monitor their finances.
This then begs the question, how do business owners find a professional that complements their company’s needs? Luckily for you, you’re in the right place because we’ve got plenty of surefire advice on the subject.
Let’s dive in!
They Should Know Your Industry Inside Out
Ideally, your accountant or bookkeeper should demonstrate a decent knowledge of the industry you’re working in.
This usually gives them a better idea of the financial intricacies affecting your company. After all, knowledge is power, so they should be able to provide a better service.
They Need Relevant Experience
They should also have experience carrying out the following tasks:
- Preparing tax returns
- Working on financial documents for companies boasting similar revenue to you.
- Using cloud-based software (that’s if you’re using these kinds of programs)
- Knowledge of how to make pay stubs
It’s even better if your potential accountant or bookkeeper has a background working with larger clients because they’ll know how to handle your financial needs as your company expands.
As part of the application process, ask each candidate to provide a list of clients they’ve previously worked alongside.
Ideally, this should include info about the gross revenue of the company and the number of employees their previous client hires. From there you can deduce the kind of financial tasks they’re used to completing.
Like any other member of staff, you want to build a long lasting relationship with your accountant or bookkeeper.
So, you’ll need to find someone with a personality you’ll get on well with in addition to working habits that complement your company culture.
Top Tip: Lay out your expectations during the early recruitment stages; that way you’re both on the same page from the get-go. Trust us; this limits the likelihood of any conflict arising further down the line!
Not all candidates that look great on paper come across well in real life- which is why holding an interview is so important. Plus, it’s a fantastic chance to gauge how they handle pressured situations.
Top Tip: Provide the interviewee with everyday scenarios they may need to handle and ask them to explain they would tackle them.
Not only does this force the candidate to think on their feet, but it also gives them a chance to discuss examples of how they solved a similar problem in the past.
Find an Accountant and Bookkeeper
We hope this advice helps you find an accountant and bookkeeper who fits the needs of your business.
If you enjoyed this article, you’d love Business First’s blog thread on business advice. Over there we discuss everything from how to handle business disasters to the benefits of using smart rooms. Enjoy!