Do you feel it is time to hire an accountancy firm for your business? Hiring an accountancy firm without knowing whether or not they are the right fit for you may not be a good idea. Instead, it is better to sit down face to face and have a discussion with every accountancy firm you are evaluating. This discussion should include questions to check if that accountancy firms can fulfill your expectations. Here are some important ones.
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Question 1: What are your fees?
To understand how affordable an accountancy firm is for you, you need to ask about their billing options and how much their services cost. Mostly accountancy firms charge on an hourly basis, and some may charge on a monthly basis. Seeking information about this will help you understand which one of the two is preferable for your company. Furthermore, some accounting firm keeps a record of all the cash receipts and disbursements in an accounting software, or others may include preparing monthly journals, print profit/loss statements or balance sheets. Find out the price for each of these line items.
Question 2: What services do you provide?
Before hiring an accountancy firm, you must ask about the services they provide. It helps you understand how compatible an accountancy firm is with your company’s accounting requirements. Most accountancy firms offer services ranging from assistance in taxes and audit representation, monthly bookkeeping and payroll processing. Also, they have professionals who have expertise in specific domains of accounting. Ask them what they specialize in to understand how their areas of specialties are essential for your business.
Question 3: Do you have experience with my kind of business?
Asking this question to an accountancy firm is as important as asking their services and fees. Learning about their experience with your kind of business will give you confidence while working with them. If they have good experience working for a business like yours, they will be able to understand your business needs and possible challenges. Apart from these benefits, they will also do a better job by providing necessary updates, trends, and news about your industry.
Question 4: Could I talk to a few of your clients?
It is always a good idea to talk to their previous clients about the firm’s performance with whom you are planning to work. An accountancy firm will always talk about their strengths and areas of expertise but rarely discuss their shortcomings. But talking to clients that firms have worked with will give you fair information about their experience, plus point and loopholes if there are any.
If you are looking for an accountancy firm in Edmonton, contact us. At Integrated Accounting Business Solution, we assist our clients with all the accounting requirements of their business. We are open for a face to face interaction understand your business better and how can our services help you.