Questions To Ask Before Hiring An Accounting FirmQuestions To Ask Before Hiring An Accounting Firm

Small businesses often neglect hiring an in-house accountant to manage the books because owners feel as if they can handle the responsibilities themselves. Although true at times, this doesn’t necessarily apply to everyone. Hiring accounting associations to manage the books is always a smarter business decision. Their experience and education give them an edge over in-house employees that have no accounting background.

It is a big financial risk to forgo hiring someone from the global accounting network, but it is even a bigger risk to hire just any accountant. Here are important questions to ask a potential accountant before hiring them for the job:

Question 1: How Do You Charge for Your Services?

Discussing money matters right off the bat will instill to the potential hire that you are serious about your books. It is also good to know if their services are worth the price. Most accounting associations bill by the hour while other prefer a monthly rate, depending on the amount of work required. Ask for a break down of services if they charge a monthly rate so you have a clear picture of what to expect from the accountant.

Question 2: Do You Deal With Similar Businesses Are Mine?

Not all small business are the same and it is important to hire an accountant with basic knowledge of your specific industry. This means that they can understand the flow of money and where your money ends up. Having someone work on your books who doesn’t even have a basic understanding of your business can lead to a lot of misunderstandings, miscalculations, and possibly overtime on your part.

Question 3: What Accounting Services Do You Offer?

Not everyone who is a part of the global accounting network has the same experiences and expertise. Others have already gone through some training, have more education, and have years of field experience. Accountants will have different services and different capabilities. Be sure to ask what type of work they are capable of handling before trusting them with your finances. If the services they offer isn’t what you are looking for, keep searching as their work might affect your business in the future.

Question 4: Can You Provide References?

Asking about an accountant’s past work is important. If they are willing to provide you with a list of references, this means that they are proud and confident with their past work experiences. Those who are hesitant to provide this crucial piece of information may be hiding something or isn’t very confident with their previous work experience. References are also a good way to check on their abilities and work ethic. One call from a previous employer can help you make a final hiring decision.

An outsourced accountant deals with sensitive and important information about your business. Trusting just anyone to deal with your finances is not a good idea. Always go for accountants that are part of the global accounting network to be 100% sure. Be smart about who you hire as the fate of your small business relies on their output.

by Patsy Jennings
References and Bibliography
MGI Worldwide is a global accounting network that can help you make sure your business will be a success. Our accounting associations are strategically located across the globe to make sure we meet the needs of our clients.
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