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Finding the Perfect Accountant For Your Startup: What to Know
When breathing into life your new startup business, you might be tearing your hair out trying to develop your business plan, prepare to meet investors, and just keeping the business afloat. However, there may be one aspect of business that might just be more important than all that which you may have forgotten: the accounting side.
If you remembered to handle that side, then that is great! If not, then that is okay—it’s a basic mistake that can be rectified if you act quickly. Accounting is not exactly the most obvious aspect of the business, but it is an incredibly important one, as taking control of one’s money ensures the company’s ability to survive, especially during its infancy! As such, it’s best left for a professional to handle.
With that being said, here is how you can choose the right accountant for your startup:
Check their experience
First things first, always look at their experience. This includes their understanding of cash flow management, ability to work with taxes, and other accounting-related know-how. You will want to find accountants that have gained their experience from the industry that your business will be in, as this will allow you to access accountants with the industry-specific knowledge to fully manage your financial needs!
In other words, make sure their expertise is not only enough, but it also must be relevant to the industry you are in! That’s because different industries will generally have different needs, and having one that has worked in similar companies such as yours will guarantee they know how to work with you properly.
Look at their qualifications
Experience is essential, and so are qualifications. Being qualified for the job means that they are actually authorized to offer their services in the specific area.
With that in mind, be sure the accountants you work with are fully qualified for the job. This means getting the credentials and certificates they need to prove that they know what they are doing—that they are able to give you the reliable and professional accounting help you expect out of them!
If you are hiring from a firm, then looking for a trustworthy firm can increase your chances of accessing qualified accountants.
Cashflow Video Guide
Learn the simple steps to prepare cash flow projections to improve your business cash flows.
Set up a meeting with the accountants
Whether you are hiring from a firm or standalone accountants, you will need to meet with the exact individual you want to work with. If this isn’t possible, then always ask the firm about the exact person you will end up working with, and try your best to meet that person before proceeding.
During this meeting, you will be discussing your company’s needs and ask them if they have the services you want. Do not forget to ask them for feedback on your business plan. See whether they are comfortable with the plan, and take note of how they approach the matter. This will give you a preview of how they work and how they interact with clients—both factors that will make or break your experience when working with them.
Conclusion
All in all, do as much research as you can and ask all the questions you want the answer to when you meet the firm or accountant you are going to work with. If you like what you hear, they likely are the right accounting firm or professional to work with to set your startup on the road to success.
On the other hand, if you still have concerns or dislike what you are hearing, it is better to move on and look at other accounting professionals! This may take more time out of your hands, but finding the right individual to work with is the difference between a successful startup and one that’s doomed to failure.
FiBrick is a people-centric accounting firm offering accounting services to startups and scale-up businesses all over the US to secure success. Reach out to us and get accounting services for startups today!
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