Hiring a strong and capable accounting service for your small business from day one can be a very smart move. Working with professionals helps you in avoiding a number of crippling mistakes that others face and also enable you to have a strong handle on your business’s finances. But, even if you know that you need a good accounting service, how do you go about hiring one? Whether you are just getting started or have been in business for years, you can ask the following questions before choosing an accounting service:
How long have you been in this field?
Yes, asking about experience is of the utmost importance because you want someone who has appropriate knowledge to handle your business financials. You don’t want to put your business at risk by hiring someone who has absolutely no knowledge of how the market works and have only obtained their credentials.
Who will be handling my accounts?
Most accounting services have full teams of accountants that deal with different clients. The person you speak to may not manage your accounts later on. It is a good idea to find out exactly who would be dealing with your accounts in order to build up a rapport with them.
Are they qualified?
No matter who handles your accounts and finances, you want to make sure they have the necessary qualification. Someone who doesn’t have proper training and education is more likely to make mistakes as opposed to a professional who has proper certification and qualifications. Again, the key is to ensure the person who will be handling your accounts is qualified; it will do you know good if the person you speak to has the necessary qualifications, but they are not the ones handling your books on a day-to-day basis.
What technology do you use?
We are living in an era of technological advancement and there are tons of software and tools that accounting services can and do use. It is a good idea to ask beforehand about the tools and software they will use to ensure it is a good fit. You can find a Xero partner Singapore if you prefer your accounts to be managed via Xero. You want to be able to check your accounts when you like and have easy access to all information, which Xero can offer.
How do you secure financial data?
Financial information is of a sensitive nature and you cannot just let anyone get access to it without knowing what security measures they have in place. Before hiring an accounting service, you should question them about the steps they will take for protecting your identity and information from hacking, identity theft and other security issues.
How can I keep my costs low?
Accounting services don’t come cheap and a small business wants to keep their costs in control. You can negotiate with the service and make adjustments to what services you do or do not need and they will give you a quote accordingly.