Your core team is exhausted with all the accounting and bookkeeping work, and you have finally decided that your small business in Broken Arrow now needs outsourced expertise. The good news is there are numerous firms in the city that specialize and offer comprehensive solutions for SMBs. In this post, let’s discuss the best practices that matter for selecting an accountant in Broken Arrow, OK.
Decide your requirements
The extent to which an accounting firm will help your company is the first thing to decide. Do you need assistance with day-to-day bookkeeping and implementation of accounting software like QuickBooks? Are you looking for assistance with tax planning & preparation? Do you want the firm to work with your team around the year, or is it okay to hire services during the tax season? Are you expecting expertise in budgeting, financial forecasting, auditing, and payroll? Once you decide what you intend to outsource, you will have less trouble shortlisting options.
Set your budget but remain flexible
Accounting services are priced according to what is included. Also, hiring someone with an accounting degree will cost less than engaging a CPA. The idea is to set a budget, but if spending a tad more can get you a competent firm that can handle most things listed above, it is a wise step.
Check for expertise
There are regulations, compliance requirements, and norms that companies need to adhere to, and these aspects may vary between sectors. If you are new to hiring an accountant, we strongly suggest you seek niche expertise. Choose a firm that has worked in your industry but has no conflict of interest. For instance, you shouldn’t work with a CPA who is also working for your immediate competitor.
Look at credentials
What is the background of the accountant? Do they have the necessary qualifications and experience? Do they have an extended list of clients, including small businesses and startups? Can they share references? Make sure to check the credentials of an accounting firm, and don’t forget to look at online ratings. Schedule a meeting and discuss all your concerns and issues related to bookkeeping, tax planning, and financial management.
While hiring an accountant is necessary, you need a team that is the right fit for your SMB. Also, work with a local service so that professionals are available on demand. Instead of seeking help before tax filing, get them on board from the start of the financial year.