How to choose a good accountant for a new business?

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When starting a new business, what are some important considerations for choosing a good accountant? What should one look for / ask for? What are some red flags?

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Posted by al-fn (Questions: 36, Answers: 44)
Asked on 6 June 2020 11:31 am
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Choosing the right accountant is one of the most important steps a new company can make. Here are some tips to consider while choosing for an accountant:

  • Consider a certified of chartered accountant – a qualified accountant will be able to add value to your company, especially if you expect your business to grow
  • Relevant experience – could be beneficial for you if the accountant you choose has experience and expertise in the market sector or industry of your business
  • Accounting software – if you already have an accounting software set up it’s best if your accountant already has knowledge on it
  • Ask for referrals
  • Determine the fees and costs – the accountant could offer various services for which other fees may apply, have a clear communication regarding payments
  • Consider whether you would prefer to hire an individual accountant or an accounting firm depending on your business’s needs

Some red flags to watch out for:

  • Communication and the lack of
  • They don’t know your industry, especially if it is something specific
  • They only have short contracts in their portfolio – clients would not want to let go of a good accountant
  • Bending the rules – a good accountant will always maintain their integrity as otherwise could get you into trouble
  • They are vague when answering your questions
  • You don’t feel confident in choosing them
Marked as spam
Posted by al-fn (Questions: 36, Answers: 44)
Answered on 6 June 2020 11:31 am