You have invested countless hours, significant energy, and considerable personal funds into launching your company and have now reached a point where you wish to focus solely on further business growth and development, rather than spending resources on administrative tasks? You are considering outsourcing certain specialized services, such as accounting. How, then, can you find the most suitable accountant, whom you can essentially trust implicitly, who is a true expert in their field and always offers sound advice? Have you considered what might happen if you make the wrong choice and how much headache and extra work it will entail? And how will all of this ultimately affect your budget and plans?

This blog post focuses on some of the critical factors we recommend keeping in mind when seeking or changing accountants.

 

1. Determine the accountant’s competence and qualifications

Regardless of your field of activity, it is beneficial if the accountant, or at least someone in the same accounting firm, has previously encountered it or has experience in a similar field. Inquire about which sectors they have worked with, whether they have acquired knowledge or completed training on a topic relevant to you. For example, if you run an e-store and sell through Amazon or Shopify, ascertain whether the accountant has any prior experience with recording sales on these platforms.

 

2. Investigate which software solutions and programs they utilize in their work

In short, do they employ modern technologies and work automatically, or do they prefer traditional methods and perform tasks manually and on paper? Programs and systematic approaches can save considerable time, which simplifies your lives and proves more cost-effective. It is also important for you to minimize administrative tasks and the time required to submit necessary documents. At Aaroni’s office, we utilize the Costpocket app for photographing and conveniently submitting purchase invoices and receipts, and Merit Aktiva for rapidly creating and sending invoices.

 

3. Specify which communication channels the accountant uses and whether they are available to advise you at any time

A good accountant should be accessible and prepared to answer your questions at almost any reasonable time. An entrepreneur may encounter accounting challenges that should be resolved promptly and correctly to avoid later issues and potential fines. It is essential that your communication is smooth, that the accountant is prepared to advise you in addition to performing specific tasks, and that you have an agreement on submitting and answering questions. A common practice is to respond within 1-2 business days and be available to meet via video conferencing in addition to email and phone calls.

 

4. Is the service price understandable and acceptable to you?

Note that the most affordable option is not necessarily the best. Maintain a critical mindset and ask yourself, or the accountant, why their service price is lower than others – perhaps they are a beginner or have difficulty finding clients for other reasons. The final decision is yours, but we recommend requesting several quotes for comparison and aiming for a middle ground.

 

Accounting services can be priced in several ways, both fixed and based on work performed. In the latter case, there is a difference between billing by hours or by lines. Returning to technology, consider how much more expensive manual work can be. Inquire about any additional costs for deviations from standard work. Ask as many questions as necessary to understand how the service price is determined. Transparency and honesty are key.

 

A good way to gain a clearer picture is to try Aaroni’s cooperation price calculator. You can test different scenarios and get an idea of the costs you should budget. Compare this with the time it would take you to do the work yourself and calculate the lost revenue while dealing with tax returns and balancing sheets instead of finding clients and making sales.

 

5. Operating time and reputation of the accounting firm

Clearly, the longer accountants have been in business, the more knowledge and experience they have from various fields. This also means the service is likely high-quality, reliable, and sustainable. Otherwise, it would be difficult to explain their longevity. Check if you can find feedback from other clients or, if it is not publicly available, ask if it is documented and could be provided. Long-term experience, a good reputation, and positive recommendations are a sure sign of trustworthiness. You can also deduce the accountant’s approach and methods from this information.

 

Thus, if you have decided to start working with an accountant, take time to find answers to these questions, as the expert actions and sound advice of a good accountant will undoubtedly save you significant time, stress, and money.