Ten Questions To Ask An Accounting Firm
If you’re seeking an accounting firm in Langley, British Columbia, to help you stay on top of your bookkeeping and long-term accounting, it’s essential to pick a reliable accounting agency with high standards. After all, the end result of their efforts will be a direct reflection of your business! Therefore, it’s necessary to choose an accounting firm that you can trust to help you get the type of service your business needs, wants and deserves.
However, if you’ve never worked with an accounting firm before, you may be confused about where to start when it comes to choosing the right one for your business. To make the whole process easier for you, we’ve outlined ten valuable questions to ask a potential accounting firm.
During your initial consultation, ask these questions to help you understand if this company is the right fit for you and capable of understanding your business and offering you the right expertise to help it grow.
1. What is the added value that you will bring to my business?
As a business owner, you will have unique needs. Your accounting expert should be able to support these needs and help maximize the returns you receive from your business endeavors.
2. What are your professional fees?
Make sure to know upfront about the accountant’s pricing, so you know what you are paying for. Most firms or professionals bill their clients by the hour, but some charge a monthly rate based on how often their services are required.
3. What technology do you use?
An accounting firm that embraces the latest technology can manage your accounts smoothly and free up their time to advise you first hand. They must also use and have experience in the latest professional tax software and provide you with the best solutions for your business.
4. Why should I use your firm?
If you’re looking to grow and diversify your business, you will need financial control, advice to make smart decisions, cut costs, save on taxes, and more. As a result, you must know whether your accounting firm can help you with these tasks to achieve your business goals.
5. What’s the best way to contact you, and how often should we be in touch?
Ask your accounting firm about their means of communication and how often they recommend a meeting to discuss your finances and taxes. It’s better to meet several times a year rather than wait until the end of the year to find out you have a serious tax or financial problem.
6. How can you help me prepare for year-end and tax season?
Ask the accountant if they can help you get prepared for the tax season as early as possible. Have a frank discussion about your tax planning priorities, and make sure they provide you with advice and an annual tax plan.
7. What are some considerations I should consult you about on an ongoing basis?
An accounting firm or professional can assist with decisions related to the various financial factors that affect your business. For example, they will be able to tell you whether you can afford new resources like employees. They will even provide a swift and appropriate plan of action to keep you aware of the ongoing functions of your business. Just verify if they have the expertise to do so before hiring them.
8. How can you help me grow my business?
Your potential accountant should provide guidance to help you grow your business. They need to be able to meet your changing needs, advise you as your business expands, tax obligations change, and help double your profits.
9. What are some common mistakes that I should avoid when working with you?
There are various accounting mistakes that can cost you quite a bit of money. Some of these include entering incorrect figures, making wrong deductions, missing entries, etc. Make sure to ask your potential accountant how you can correct or avoid these errors to increase the health, growth, and longevity of a business.
10. How can you help me better manage my cash flow?
Managing your cash flow is vital for the health of your business finance. If your prospective accounting firm can provide you with accurate and efficient services with your cash flow, you will have enough to meet your financial obligations and grow a healthy business.
If you’re looking for a renowned bookkeeping firm located in Langley, British Columbia, reach out to us at Infinite Accounting Solutions. Backed by a passionate and driven team, we help businesses and individuals with a full range of accounting and bookkeeping services. Our accounting solutions include daily bookkeeping, payroll services, reconciliations and review, accounting software training, nonprofit accounting, and bookkeeping. We offer mobile bookkeeping extended to clients across Langley, Abbotsford, Pitt Meadows, White Rock, and Surrey.