How to Hire the Best Accountant for Your Business
Behind every successful company, there is usually a successful accountant. The accountant for your business plays many roles such as bookkeeper, payroll advisor, and tax preparer. In doing so they can save your company time, funds, and add to to its growth. When looking for bookkeeping nyc, there are some key elements that you will want to consider.
Should You Go With a Firm or a Freelancer?
This may depend on the size of your company and the stage of your business. The level of your needs indicates what level of queens accountants you will need. If you have complex general ledgers, large payroll, and intricate tax filings, it may be wise to hire a full-time accountant. Most small businesses, especially startups, benefit by tackling daily accounting needs such as issuing invoices, and reconciling receivables and payables, on their own. Businesses such as these only need an accountant a few times a year to file taxes, or prepare year-end statements. If your business is a small one, you will probably benefit from hiring from an accounting firm. This would be the least expensive option for you.
Do You Need an Accountant or a Bookkeeper?
As you track the finances of your business, you will probably end up asking yourself what the difference is between an accountant and a bookkeeper. Many business owners use the two terms interchangeably, but there are differences between the two professions.
- Bookkeepers: A bookkeeper typically records and updates the financial records for a business. They enter information into the general ledger, reconcile bank and checking accounts, issue invoices and reconcile payables. Bookkeepers are an essential part of many small businesses, especially those which have multiple transactions that must be recorded on a daily basis. If you need manhattan bookkeeping, look no further.
- Accountants: Accountants perform functions similar to that of a bookkeeper, but with the addition of tasks such as analyzing financial records, creating budgets, and completing state and local income tax forms. An accountant may have additional training that will help a business owner improve the profitability of the company, and save money wherever possible. If you’re looking for a jackson heights accountant, give us a call, we can help you.
Finding a Firm
If you have decided that hiring a firm is the way to go, you will want to organize a list of skills that you need accomplished. Just like in any profession, accountants have different specialties. Some accountants excel in the area of nonprofit organizations, while others deal primarily with personal accounting. You want to make sure that the firm you choose is staffed with the accountants that will suit your specific needs.
Once you know the skills you need in an accountant, then it’s time to find them. Getting recommendations from other business owners is often a good way to start. Word of mouth is always valuable.
Hiring a Full Time Accountant
If you have decided that you need a forty hour a week accountant on site, then it is time to create a specific job description. Decide what specific tasks the accountant will need to perform on a basis from daily to quarterly. Consider what educational and work experience you think will be a strong fit for your company. The next step would be to create a help wanted ad for the appropriate platforms of your choosing.
Thinking Outside the Box
Perhaps that you have decided that you want an in-house accountant but do not want to hire a full time employee. You can hire a part time accountant, or even seek temporary help. If you choose the latter, remember that a strong relationship between you and your accountant is vital to your company’s success. It may be wise to work with someone on a consistent basis.
If you feel that you need an accountant only once every few months, but still don’t want to outsource to a firm, you could hire a project-based accountant. Seeking the aid of a recruitment agency is a good way to go in that case. Job recruiters will be able to find an accountant with the skills that specifically meet your company’s needs.
Regardless of the method you use to hire an accountant, be sure to have the proper hiring paperwork on file. An independent consulting agreement and a W9 is essential to hiring a freelancer. If you choose to to hire a full or part time accountant, be sure to follow the traditional hiring procedures for your company.
The team at Accountant/Accounting is fully staffed with some of the strongest accountants in our area. If you would like to begin the interview process, please contact us to set up an appointment.