Tax laws are changed and tweaked every year by legislators, new rules are introduced and changes are made. It becomes very difficult for a layman to stay updated on such constant shifts in financial laws. Accounting firms usually keep up to date with these regulations, being it’s their bread and butter, which is why it’s always preferable to hire an accounting firm when dealing with your finances. Here are 5 things you should consider before you choose an accounting firm;
Expertise
Market knowledge and experience is something that goes hand in hand with a firm’s reputation. The accounting firm you choose should have expertise in the subject and should be well aware of policies and regulations present so they can guide you on all fronts. They can also offer advice or feedback on buying and selling and it would be impossible to do if they don’t have the knowledge themselves.
Availability
It really matters when your accounting firm is available whenever you need it to be. Some firms provide great service round the clock and are always readily willing to help out in our time of need. This customer service can really come in handy and can make or break the situation in some cases, so do consider accessibility and availability before you hire them!
Service
This is an obvious yet important one. Some accounting firms differ when it comes to their level of service. Some firms offer bookkeepers who keep track of day to day transactions , those who don’t can charge you more if a CPA takes care of client transactions. So you need to make sure what kind of service you’re looking for when you’re hiring an accounting firm.
Comfort
A firm that’s going to be taking care of your finances will have the knowledge regarding your possessions too. It is key whether you’re comfortable discussing your finances with them, otherwise it can become a hassle and the point is lost on hiring an accounting firm. If your small business accountant sydney doesn’t understand what you need or there is a communication gap, you need to find another firm that fills these gaps.
Fees
This can be a make or break in a lot of cases when it comes to hiring accounting firms. Some firms charge a lot of fees for not the best kind of service. You need to steer clear of such firms and try to find someone who you’re comfortable with both in terms of service as well as fee structure. You can’t have someone conning you and charging an arm and a leg for bad service!