What Is the Best Way to Choose an Accountant for a Business?
Updated: May 24
There's a rather wide variety of factors that goes into the landscape of small businesses in Australia. Cloud technology is advancing at a rapid pace, and it keeps influencing the interaction of businesses with their customer base. It's important for people who own businesses to have professionals in the accounting field that are beyond competent; they should work with Gold Coast accountants that are outright experts. In this way, it can be ensured that it's possible to make the most out of the business' potential.
What is the best way to choose an accountant for a business?
There are a number of factors that go into making sure you have the correct accountant for your business. Read on to find out some of them:
Hire an accountant that actually understands what the needs of your business are
Prior to starting any sort of search or posting hiring ads, you may want to refine exactly what your needs are in the first place. Do you need someone who will prepare your taxes for you? Or is this something more intensive, such as income tax returns, payroll, cash flow, budgeting, BAS lodgement and/or bookkeeping?
It's also important that the accountant you end up hiring has a keen grasp of the most up-to-date software used for accounting. Take note of the up-to-date software part, since this person could be the key to making the switch to cloud software you've been eyeing.
Hire an accountant that has a familiarity with small businesses
As previously mentioned, the small business landscape of Australia is quite vast. There can be problems that pop up at any time, including necessary financial information for loan applications, the cash flow and even hiring. This means they won't necessarily be focused on just one aspect at any given time. Knowledge in the operation of small businesses is key in the accountant you end up hiring. This is largely because aside from the obvious management of taxes, they will also be able to act as an advisor for overall business matters.
More and more accountants are now being looked to by small business owners for advice and help when it comes to growing the business. This includes marketing, cash flow management and down the line even expanding to newer locations.
Hire an accountant that is well-versed not only in taxes
A proper business accountant in the Gold Coast understands that the job actually means much more than straightening a company or organisation's taxes. They will have a proverbial ear on the ground and will be consistently updated on relevant news in the finance world. They are also great go-to’s for matters such as taking on a brand-new lease, equipment being purchased and even acquiring new staff.
Having an accountant who can go above and beyond arranging taxes per fiscal year is invaluable for companies. This is why it's important to hire one that is the perfect fit for your company or organisation. Your best bet is to refine your search and hire someone that's familiar with small businesses and will understand your business's needs.
Searching for the best accountants on the Gold Coast? Contact New Wave Accounting today! We provide end-to-end accounting and bookkeeping services that help scale and grow businesses.