An accountant can be extremely beneficial if you own a small business or are self-employed. Your accountant can save time by handling routine tasks like bookkeeping and tax returns at the most basic level. As your company grows, your accountant’s role will become increasingly important, covering critical areas such as financial reporting, compliance, payroll, tax efficiency, business planning, and more. Above all, a good accountant provides you with the trustworthy financial information you need to make critical decisions, allowing your company to grow faster while saving you money. They will assist you in dealing with complex financial issues such as invoicing, tax liabilities based on your legal status, tax-deductible expenses, and end-of-year reporting. Below you can see how to choose a professional charted accountant in Oakville:
Know what you need
A non-certified accountant or bookkeeper can be hired if you require monthly financial statements and bookkeeping tasks. However, a CPA or certified public accountant is required if you want tax planning advice, tax returns prepared, or audited financial statements. However, before hiring an accountant, you must determine the work or responsibilities you want the accountant to handle for your company.
Ask recommendations
Asking other business owners about their accountants is one way to find one for your company. Nothing beats a recommendation from a fellow professional. Accountants in Oakville have the expertise to manage your company’s accounts. Inquire about their experience working with their accountant or bookkeeper, and get an idea of the budget you will need to cover these costs.
Assess their expertise
When hiring an accountant, look for someone with experience preparing tax returns and financial documentation for businesses of similar size and revenue to yours. Consider their expertise in using cloud-accounting software when evaluating expertise. If you can also find one that has previously worked with companies in your industry, that is a huge plus because they will understand your specific requirements well.
See their licenses and insurance
Choose Accountants in Oakville if you need a knowledgeable accountant to manage your company’s financial activities. Request a copy of the accountant’s practising licence and Public Indemnity Insurance. An accountant should never hesitate to present these to you, and it is worth it to give yourself some extra comfort and reassurance.
Check their software
Accountants frequently have their preferences for accounting software. However, it is advantageous to locate an accountant who uses the same software as you. This raises the issue of data sharing, but with today’s technology, this can be worked around with minimal difficulty. Try to use market-leading accounting software that is simple to use and allows files to be exchanged in a secure and encrypted manner.
Inquire about their reporting frequency
It is critical that you understand how frequently your accountant will send you financial statements. Communication between you and your accountant is vital, especially as your company grows. You want to consult your accountant on business matters rather than taxes. So, plan for the frequency of reporting and communication, and hire an accountant who meets your needs.
Final thoughts
Finally, the above details are about how to choose a professional chartered accountant in Oakville. If you consider these factors, you will find reliable accounts from the SRJ chartered professional accountant. They provide you with excellent service.