As businesses grow, their old accounting practices no longer work. Business owners may have been doing their own accounting, or had someone in their office, maybe an administrative assistant, keeping their books.
As annual revenue exceeds $2 million, smart business owners realize bookkeeping is becoming overwhelming. In fact, not having the books up to date could be holding the business back from achieving its full potential. They need to find accountant services.
How can you find the best accounting service to meet your company's needs? Here are a few questions to consider in your search.
What Are Your Specific Accounting Needs?
Do you often fall behind on Accounts Receivable, which leads to Accounts Payable being paid late and your company being subject to unnecessary late fees or damage to your credit? Are your financial statements rarely up to date, so you never know where you stand? Do you need accounting services to help you make sense of the financial statements, to really understand the stories those numbers tell? Are your books just a mess because you don't have time to keep up with them?
Pinpointing your needs as a business owner will help you determine the level of accounting service you need, so you can find an accountant that meets, or even exceeds, your expectations.
How Well Do You Understand Accounting?
Having someone to “do your books” is great, and is certainly the first step to greater financial control of your business. But many business owners are looking for an accounting service that can dig deeper and provide the next level of accounting.
If you often receive financial statements but don't grasp their full relevance, or if you need help with tasks like financial forecasting, a full-charge accounting service that provides financial controllership services will help you make the best decisions for your company's future.
Are You Comfortable Putting Your Accounting in the Cloud?
One of the best ways to find an accountant is to look online. Looking for a virtual accountant opens your search to thousands of qualified, U.S.-based accountants and CPAs who may not live in your hometown. If you hire a virtual accountant, you'll most likely use cloud-based accounting software. This permits you to access your vital financial records from any secure Internet connection with the latest browser, giving you greater control over your company around the clock.
Ask about the security and stability of the servers used by any virtual accounting services you may consider. When you find an accountant, you want to be able to trust not just the person, but the technology, too.
