When you entrust someone with your business’ finances, you’re entrusting them with your livelihood. That being said, when it comes to selecting an accounting firm, it’s important to choose one that you can envision a long term business relationship with – and you’ll want to start things off with a strong foundation.
If you’re ready to outsource your accounting and not quite sure how to hire the right-fit company, we have you covered. With our financial expertise, our team put together these six key attributes you should consider when interviewing prospective firms.
Some accounting firms charge a flat fee for services such as issuing financial reports and filing your company’s taxes. Other certified public accountants charge by the hour or have a monthly retainer fee that covers everything. Make sure you understand the terms of payment before signing a contract.
Has the accounting firm worked with a business like yours before? This is especially important if you have special financial considerations because of the nature of your product or service, according to the American Institute of Certified Professional Accountants. You should also find how long the firm has been serving businesses in your community.
When you have an accounting firm in mind, check their state certifications to make sure the team has the appropriate credentials. For businesses located in Florida, you can search the license database provided by the State Department of Business & Professional Regulation. You might also want to look for a CPA who has other desirable certifications such as QuickBooks Pro Advisor.
If you expect your accounting firm to represent you before the IRS (in case of an audit, for example), your CPA must have enrolled agent credentials. You can search the National Association of Enrolled Agents to find qualifying candidates in your area.
In our virtual world, you need to trust that your company’s secure financial information will remain protected in the hands of your accounting firm. Most modern CPA firms use a cloud-based system so you can access your data whenever and wherever you need it. Before hiring a firm, ask questions about encryption methods and other aspects of data security. They should have a proactive, comprehensive strategy in place.
You need to trust your CPA and feel comfortable discussing your company’s finances with the firm you hire. Meet with the representatives of the firms on your shortlist in person before signing a service contract or disclosing private information. You should feel a sense of confidence in, and connection, with the person you’ll be working with on accounting matters.
Work with Orlando’s Best
KDK Accountancy Corporation provides Central Florida businesses the benefit of more than six decades of comprehensive knowledge. We provide full-service accounting for medical and legal practices, retail stores, broadcasting corporations, real estate agents, construction agencies and countless other industries.
Contact our team online or call (407) 677-1040 to schedule a consultation and learn more about how we can streamline and improve your company’s monetary operations today.