| Having a good accountant/bookkeeper may not | | | | simultaneously, a 2 person firm may not be for |
| make or break your business' success but with | | | | you. |
| the current state of the US economy and the | | | | 6. What experience do they have with the |
| weakening US Dollar - it sure helps! A good | | | | software of YOUR choice (and accounting |
| accountant can have a HUGE impact on your | | | | software in general)? Software experience is |
| bottom line... | | | | more important if you use either an abstract or |
| Because they handle your money, choosing one is | | | | complicated software package. Chances are if |
| a big decision. Here are a few questions to ask | | | | you use QuickBooks, Peachtree, or MYOB, your |
| the prospective accountant (or accounting firm). | | | | accountant/bookkeeper has had some exposure |
| | | | to it. Bottom line, you don't want your new |
| 1. How many years has the accountant been in | | | | accountant learning to use the software of your |
| business? With the constant changes in the tax | | | | choice on your dime... In my opinion, that really |
| laws and accounting reporting requirements, | | | | should be something they come to the table with. |
| someone with a minimum of 5 years experience | | | | 7. What are their levels/types of service? Most, |
| is ideal since you want a business/firm that has | | | | not all, firms will have levels and/or types of |
| been around and won't go under on you. | | | | services. After consultation, they will make |
| 2. How many years of experience does the | | | | recommendations to you regarding what they can |
| accountant have? Again, a minimum of 5 years is | | | | offer you. It is ultimately your decision which |
| ideal...however, industry specific experience of 2-3 | | | | services you use. |
| years is a good start. | | | | 8. What are the typical terms of their service |
| 3. What industry are they proficient in? Depending | | | | agreement? Your prospective accountant should |
| on your industry, this question could be vital. You | | | | be able to outline for you the "typical" terms of |
| want an accountant/bookkeeper who knows the | | | | the agreement such as acceptable methods of |
| red flags for your industry as well as what to | | | | payment, due date, late fees/penalties, etc. |
| look for when reviewing your financial statements | | | | 9. Is it an open ended arrangement? In my |
| & taxes for errors. | | | | opinion, the agreement should be open to the |
| 4. What is their response time and communication | | | | extent that either party may cancel the services |
| style? Response time should ideally be within | | | | upon notification. Acceptable methods of |
| 24-48 hours as a business courtesy; however, | | | | notification should be discussed. |
| communication style is up to you. You should lean | | | | 10. What is your comfort level/rapport with |
| toward someone that communicates via similar | | | | them? This isn't necessarily a question to ask the |
| media as you. For example, if you are proficient | | | | prospect but rather something you should ask |
| and comfortable with email/Instant Messenger | | | | yourself prior to signing on the dotted line. You |
| communication, but your accountant is not...you | | | | want to have a certain level of comfort with |
| may have an impasse regarding responsiveness. | | | | them, after all, they will be handling your business' |
| So keep media preference in mind. | | | | money & financial affairs... so if something |
| 5. What is the size of the firm? This only matters | | | | just doesn't feel right, don't ignore it. |
| in terms of services offered and requested and | | | | Having the answers to these questions is a good |
| responsiveness. If you need quick turnaround for | | | | foundation for making this decision...If you need |
| certain items, a 20+ person firm may not be for | | | | help or you have questions, please contact us. |
| you. If you need 20 financial reviews done | | | | We'd be happy to help. |