How to choose the right accountancy firm for your organisation
Many companies choose to outsource their accounting needs rather than handle things in-house. However, in doing so they do need to make sure that they find the right accountancy firm to match their business. Here are some of the factors you should consider if you are trying to find an accountancy firm to work with.
Location
There are accountancy firms all over the country, but you need to make sure that you find one who is local to you. This can make it much easier in terms of keeping conversation flowing, and they might be aware of any delays that your business might be experiencing as a result of your location. You will also be able to pop round at a moment’s notice if your accountant needs to have a meeting with you. Sometimes, it is easier to do that rather than try to explain something over the phone or by email.
If your business is spread across multiple offices throughout various cities, you should look for an accountancy firm that has a presence in the same areas as you. There are plenty of these accountancy firms around. As an example, your own headquarters might use the Azets accountancy in London, and you could enquire as to the services of their Birmingham office when you open a branch there. This keeps your financial records on their systems, and means that you will not have to rely on two different accounting firms communicating.
Accreditation
All accountancy firms need to be properly accredited and verified by various governing bodies in order to be able to practice. For example, if you are operating in England or Wales then you should ensure that you find an accountancy firm that is accredited with the Institute of Charted Accountants.
This is a standard accreditation and it helps to give you peace of mind that you are going to be working with a professional. If you find a professional accountant who is reluctant to hand over the details of their accreditation, this should be a red flag. No-one should have a problem providing these details when asked for them. If you are unable to validate the legitimacy of an accountant’s accreditation, you should move on and look for another.
Experience
While you might be willing to work with a newly qualified accountant, you do need to make sure that there is some degree of expertise in place – particularly if you have a specialist business. Your accountant needs to be able to fully understand what it is that your company does so they are then able to compile your financial data correctly.
There are always going to be some nuances to a business’s books, and a good accountant will be able to spot the potentially problematic areas. They will then be able to properly assess them and potentially even make suggestions that could change your business for the better. You will always be able to see the benefits of working with an accountant who fully understands your industry versus one who does not.
When outsourcing any task, you need to make sure that you are finding the right person for the job. However, this only becomes ever more important when you are considering selecting an accountancy firm. As a business owner, you need someone who will keep track of your expenses and report back in an honest but easy-to-understand manner. It might take you a while to find the perfect candidate, but a good accountant will be worth the search. Don’t just look for someone who will be able to complete this task for you – find someone you will be able to build a good working relationship with.
