Finding the right small business accountant to handle your business tax affairs can be complicated. In this blog, we share the top things to look for when choosing a small business accountant.
What To Look For When Hiring an Accountant for Your Small Business?
A small business accountant is an individual or a firm that handles your business tax affairs. You may work with a small business accountant on your annual tax compliance and quarterly BAS statements, or you may have a more integrated relationship that involves support with payroll and employee tax withholding.
1. Look for experience
Experience is key when it comes to working with a small business accountant. Choosing a firm that has worked with businesses of your size and scale in the past can mean a better long term fit, and advice that’s suited to your business and personal circumstances. An accountant with appropriate experience in your business size and category will also be better placed to assist with strategies like tax planning, to ensure you’re optimising your tax affairs year-round.
2. Get recommendations
Recommendations and referrals go a long way when choosing professional services like small business accountants. Ask friends and family, and other business owners within your professional network what they like about their small business accountant.
3. Check their social media
Many small business accountants and accounting firms are now on social media, so hunt down their channels and get a feel for who they are and how they can help you. You can often explore their service offering via social, too, so if you need help with capital gains tax and self-managed superfunds, for example, ensure your chosen accountant has those capabilities.
4. Small business accountant reviews
Read reviews of small business accountants and get a feel for what other professionals think. While choosing an accountant is a personal decision, public reviews and how they’re handled can reveal a lot about a business.
5. What Software Do They Use?
The software used by small business accountants is important to you as a customer. Depending on what internal software you use for your business, it’s worth checking that your systems will be compatible to save you time and stress at the end of the financial year. Also look into how they store data and files. Do they use cloud accounting or a more traditional approach?
6. Small business accountant fees
Making sure your small business accountant costs align with your business goals and financial capabilities is critical. Speak to multiple accountants and compare prices with service offering to find a balance that’s right for you and your business.
Contact National Accounts to learn more about how we can support you and your business.
