Questions to Ask Before Retaining an Accountant

Are you thinking of the best way to choose an accountant for your business? If so, why not follow the advice of Rudyard Kipling who tells us that it’s a good practice to ask, what, why, when, how, where, and who.

Let’s put these six questions to work in considering some useful questions to ask your prospective accountant before hiring.

What is expected of me?

An experienced accountant can prepare your tax returns and care for all your accounting needs in an efficient manner especially when you make sure you provide them with all the documentation they need. 

Ask your accountant ahead of time what is expected of you in terms of the information they need to care for all your accounting needs. The more information you can give them, the more likely they are to be able to save you money.

Why are you worth the money I will pay you?

Of course, the wisdom of any investment is ultimately measured by the value you receive in return. Will your accountant do the bare minimum required and focus only on keeping you compliant throughout the year? Or will they also help you to grow your business and maximize your profits?

When will you be available for me?

You should check in advance with your accountant that they will be able to make themselves available to you within a reasonable time after you contact them for help or advice. Will they be responsive to your communication or will you be left hanging? After all, being able to communicate in a timely manner with your accountant is a vital business necessity.

How do you determine your rates?

All accountants have their own pricing criteria. You may be charged according to an hourly rate, a fixed fee or a monthly retainer. Depending on your needs there can be advantages and disadvantages with each method. It is important to understand the details of the pricing schedule ahead of time so that you can budget accordingly.

Where is your special area of expertise?

This is an important question to ask because not every CPA may have the particular expertise that you require. So it’s important to determine ahead of time if the CPA that you will choose is a good fit for your type of business.

For example, we specialize in helping solopreneurs who are currently both the CEO and CFO of their business. If you are presently doing your own books, we want to make sure you are making it as pain free as possible to track, understand, and use your numbers to grow your business!

Who will be caring for my account?

With some accounting companies, the senior CPA might be quite far removed from the day to day handling of your account. The bulk of the work may be left completely in the hands of junior staff members.

You may be surprised to learn that some accounting companies will even outsource your work completely. In any case, make sure the person handling your business is a well-qualified and fully licensed professional.

If you would like to learn more about working together, we would love to have a call with you and discuss the what, why, when, how, where, and who.

Click on this link to schedule a call, so you can begin to feel more in control of your business’ finances.