It goes without saying that it’s very important for your business’ finances to be in the hands of someone who knows exactly what they are doing. If this person is not you, then you need to find a professional CPA or accountant you can trust with every aspect of your finances. But it’s best to not rush into hiring the first accounting firm or full-time accountant you cross paths with. They have to be a right fit for all of your and your business’s needs, which means you need to do some legwork so you don’t choose poorly.
With that in mind, here are a few mistakes that small businesses can make when hiring for accounting services in Jamestown, ND.
Assuming any accountant can help your business
Although you do want your business accountant to have the necessary qualifications, you need to focus on the fact that they should have more than just a facility with numbers. The best individual or accounting firm for you will know your business and your industry pretty well, which will allow them to communicate and work with your team effectively. Knowing the business lingo also proves helpful for services like bookkeeping and restructuring financial records. Ultimately, you want to hire someone with the right accounting background for your particular type of business.
Not getting organized in advance
Some small business owners neglect to write out their business needs before consulting with prospective accountants. This is crucial for the simple reason that you need someone who can handle anything related to finances, as well as be able to be there for you when you need them. For example, do you sell expensive items only a few times a month and are not always in need of services? Or do you run a business that deals with customer purchases on a daily basis? Remember to take into account the frequency with which you will need their services.
Anyway, if you don’t even know what you need out of accounting services in Jamestown, ND, then how is the accountant supposed to know? They may take the job, but fumble at their first task you ask of them because it’s not a service they typically offer.
Thinking you can do it yourself
A big mistake made by some small business owners, especially at the beginning, is that they think they can take care of all the business finances themselves. Accounting knowledge is not something you are born with. In fact, there’s a lot of schooling and ongoing training one has to go through to become a certified accountant. A professional is knowledgeable in the accounting process, can spot errors a mile away and knows what is best for you and your business.
Don’t make the mistake of trying to take on the task yourself or appointing an employee because they showed an interest—there could be serious consequences.
At Craig S. Hanson, CPA, we are here to provide you with exceptional accounting services in Jamestown, ND for all your small business’ financial needs. Give us a call today for a more secure tomorrow.