Finding the Right Outsourced Accountant for Your Small Business

Written by Jason Granado
Business PlanningStartup Accounting
Cheerful financiers pointing on documents in office

For many small business owners and startup founders, outsourcing an accountant can be a daunting task. With so many options out there, it can be hard to know where to start. From finding the right fit for your needs and budget, to understanding their specific skillset, there are a lot of factors to consider when selecting an accountant.

As a small business owner, startup founder, or freelancer, you’re always looking for ways to save money. Outsourcing an accountant can be a great way to do that. But not just any accountant will do—it’s important to find the right person who has the skills and expertise to make your financial operations run smoothly and help you avoid costly mistakes. Before you make a decision, it is important to consider the advantages and disadvantages of outsourcing, as well as which type of accountant best suits your needs. Read on to discover what you should be looking for when searching for an outsourced accountant.

Industry Experience

When it comes to accounting services, experience matters. That’s why it’s important to find an accountant who is knowledgeable about the industry in which your business operates. A CPA with a background working with businesses similar to yours will be better equipped to handle the complexities of accounting related to that specific industry. Do they specialize in startups? Do they have experience with businesses in your industry? This could include understanding tax deductions specific to certain industries or giving advice on other financial decisions based on their knowledge of trends within that particular field.

Qualifications & Experience

When looking for an accountant to outsource, you should ensure they have the qualifications needed to do the job properly. An experienced accountant can help identify areas where money can be saved and advise on tax law changes that could affect your business. They should also have knowledge of accounting software and be able to use it effectively. Are they knowledgeable about local taxes or international tax regulations? Knowing what type of accountant is best suited for your business’s needs is key in making sure that you get the right person on board. It is also important to check their references and reviews from previous clients before engaging their services.

Cost-Effective Services

The goal of outsourcing an accountant is usually cost savings, so it’s important to make sure that any potential candidates are willing to work within your budget. Most accountants charge by the hour, so shop around and compare rates from different professionals before making a decision. Some accountants may charge by the hour while others may offer flat-fee packages which include all the services you require at a fixed price. It is important to understand exactly what is included in the package so that there are no hidden costs or surprises down the line.

It’s also important to consider what kinds of services they offer—for instance, some may only provide basic bookkeeping while others might offer more comprehensive services like budgeting and forecasting, payroll processing, or even tax preparation and filing. Knowing what kind of services you need upfront can help you find an accountant who offers cost-effective solutions tailored specifically for your business needs.

Communication Skills

In addition to experience and affordability, communication is key when selecting an outside accountant. Having a good working relationship with your accountant is essential when it comes to keeping things running smoothly and efficiently. You want someone who can effectively explain complex financial concepts in plain language and provide timely updates on progress as needed. Having regular check-ins (whether in person or via video conference) helps keep everyone on track but also allows both parties to address any emerging issues quickly so nothing gets overlooked or forgotten about down the line.

Make sure any potential accountants have good customer service skills as well as excellent written and verbal communication abilities before making a final decision. This will help ensure that all parties involved are able understand each other clearly throughout the process without any unnecessary misunderstandings or delays in service delivery due to miscommunication issues.

Time Frame

Another factor that should be taken into consideration when outsourcing an accountant is how long it will take for them to complete their tasks. Generally speaking, most accountants are able to complete basic bookkeeping tasks within one week, but more complex tasks such as filing taxes or preparing financial statements may take longer depending on their workload and experience level. It’s important to discuss the expected time frame with the accountant beforehand so that both parties can plan accordingly.

Outsourcing an accountant can be beneficial for small businesses and startups who lack in-house expertise or resources in this area. Selecting an outsourced accountant can be daunting but it doesn’t have to be if you know what qualities you should look for in a professional partner – namely experience in your field, cost-effective services, and strong communication skills.

An experienced CPA with these qualities can help you manage complex financial processes efficiently while still staying within budget constraints – ultimately providing peace of mind knowing your finances are in good hands. By doing your research ahead of time, you can ensure that you find an experienced professional who fits your budget and timeline requirements—allowing you to focus on growing your business while they handle essential accounting duties with ease!

About the Author

Jason Granado

Co-founder of Rooled and Director of Accounting, Jason has been involved in the outsourced accounting industry for 17+ years. Jason graduated from San Jose State University where he received his Bachelor of Science, Accounting degree.