I’ve been meeting with a lot of new clients lately and it has made me realize how important it is to gauge your compatibility with the person your looking to hire! Knowing the right questions to ask when hiring an accountant can make all the difference in resting assured that your financial needs are being taken care in a way that is important to you. Well there is technically no right answer to these questions it’s important to be aware of the level of service you’ll be signing up for!
Here are 10 questions to ask in addition to “how much do you charge?” before you sign up with a new accountant. These questions may also help you analyze the current relationship you have with your accountant:
1. Does the level of support and scope of work available align with my financial goals?
Are you looking for data entry only, or are you looking for financial analysis and insight? While there is no right answer here, it’s definitely good to know what you’re signing up for when hiring an accountant or bookkeeper in comparison to the level of service you were expecting to receive.
2. What are your qualifications?
Adding on to the first point above, do you need someone with ample qualifications or just good attention to detail? Do you need business advice and help understanding your financials? If that is the case, it’s good to ask about your accountant’s job experience and level of education to know they can help you get where you want to go.
3. What is your experience in my industry?
Every industry has a learning curve and it helps when your accountant is already knowledgeable in your industry or can catch on quickly. You want someone who can jump into your books and immediately provide a value added service. It is also helpful if they are able to give your some guidance on industry best practices or comparables. A list of references or similar types of businesses they service may help.
4. What is your preferred method of communication?
If you like to talk everything out over the phone, but you accountant only likes to communicate via email, they might not be a good fit for you! You want to find someone with the same communication style as you. This will also help you get ahold of them quickly when you need to!
5. Who will actually be working on my file?
If you’re looking at a larger firm the initial person you speak to likely will not be the person completing your work. You will want to know who you will be working with before making your decision so you can gauge your expectations and decide if they will be a good fit for you.
6. What are your typical response times?
Sometimes you will have a quick question and a quick response is a life saver! You will want to know about expected wait times for a reply to your emails/phone calls. I think this is very important because when it comes to your business and your money – you want to know your questions will be answered quickly and with ease.
7. What are your typical delivery times?
Whether you’re looking for year end financial statement preparation or regular bookkeeping, its important to set expectations for turn around times on your engagements. You need timely financial data in order to make informed decisions about your business or to secure financing opportunities etc.
8. Do you have the capacity to take me on as a client?
It’s important to find an accountant that prioritizes the client experience and will not overbook themselves just to increase their bottom line.
9. How will you protect my information?
When you hire an accountant you will be establishing a strong relationship fairly quickly with them since you’re required to divulge all of your personal and financial information. You need to be able to trust that your accountant has a plan to keep your information secure and that you are confident in their commitment to following this plan.
10. What accounting programs do you use and will I have timely access to my information?
You want to make sure that in any situation you will still have access to your books and records and can access them at any time. You don’t want to have to wait around for a financial report or for access to your current books and records.
In conclusion, all of these items are important when choosing who you want to work with to support your business’s financial goals. It’s also important to simply like the person who you will be working with and feeling comfortable to ask them any questions you may have! Choosing an accountant or bookkeeper is a big decision and I hope that this list has given you some things to consider so you can rest assured that the financial needs of your business are well taken care of all year long.
