When you have decided it’s finally the right time to hire an accountant for your small-to-medium business, you need to decide which accountant to hire. There are many different accounting firms out there, from large international financial firms to small independent ones.
It is very important that you take your time in choosing your accountant and do not rush into it; it is a big decision which can have a huge impact on your business.
Deciding on a candidate is not the easiest decision you will ever make, and you need to consider issues and considerations, such as how much you’ll need to pay your accountant, where your accountant is based and how many other clients your accountant has.
There is no shortage of accountants in Dublin, so take your time to put together a list of potential candidates and then consider some of our key points.
Different accountants do different things – some are happy to do bookkeeping whereas others will only want to focus on broader tasks – so it is important that you gauge the answer to this question early on.
You need to decide what tasks you want your accountant to undertake and the level of control you would like them to have, and then begin filtering out candidates based on these requirements. Just be straight with this question and ask your candidates whether or not they would be happy to do all of the tasks you would like them to.
If you don’t want to do your own bookkeeping, then your potential candidates will need to offer both accounting and bookkeeping services.
Once you have figured out what you want from an accountant, you can begin looking for candidates.
Pretty much every firm of accountants in Dublin is now online and has some form of web presence. This is great news for you, because it is now easier than every to begin researching potential candidates with a simple Google search.
Remember, you are looking for an accountant who can help you both financially and commercially, who will help your business grow and develop. The best way to figure out their suitability is in a face-to-face meeting.
There are lots of questions you might want to ask them, but we have compiled a list of some of the best and most important ones.
It is important that your potential accountant is a good match for your business. In other words, does your accountant understand the needs and requirements of small-to-medium sized businesses?
A good candidate for you would be an accountant or a firm which has specific expertise and experience in working with smaller businesses. It may be a good idea to choose a firm of accountants who are a similar size to you; there are plenty of small-to-medium sized accountants in Dublin.
To gauge whether or not your candidates are a good match, some good questions to ask are what other companies or businesses they work with in your sector, or whether or not they have previously worked with companies who are similar in size and development to yours.
When you do contact them, make sure you’re speaking to the person who will be handling your accounts on a day-to-day basis, so that you get the best and clearest answers.
Lots of people think that an accountant’s role is to just look after your business accounts and taxes, but this is just a small part of what a really good accountant can do.
Accountants who are worth their weight in salt and the money you are paying them can help you with many different aspects of running your business. Although it is not always advertised, a good accountant can help you with all things financial, which includes things such as saving money through tax relief schemes, taking your business public and selling shares, raising capital and securing investments.
Just as it is important to find out what your potential candidate charges. Be straight and ask them exactly what their rate is, how much specific services cost and how often they will bill you. As a small-to-medium business, your expenses are very important, and you should ask direct questions.
Remember, you are interviewing them, and they will want you as a client.
Accountants are regulated and monitored by professional bodies which manage accounting qualifications and maintain strong professional standards.
Chartered Accountants are highly qualified and have completed degree-level studies. They have years of industry experience and are fully competent in their respective fields.
For a small-to-medium business, it is of importance that your accountant adds value to your business right from the start and helps your company grow. By choosing a Chartered Accountant right from the start, you are putting your business in the most capable hands and could avoid problems further down the line.
Although general financial management and bookkeeping do not require Chartered Accountant status, if you have long-term growth ambitions, you will need one further down the line when your company begins to undergo audits or take out loans.
Interview several candidates before you make your final decision; don’t accept the first offer you receive.
Although it’s a relatively boring task, finding the right accountant which fits both your business’s short-term needs and long-term ambitions will set you up for future success and prevent problems from arising further down the line.
There are lots of accountants operating in Dublin, so there is no lack of quality candidates. Shop, use your business connections to gather recommendations and work from there.