How to choose the right accountant: 10 questions to ask before you hire
If you have a small business, you are the one who’s liable for operating it right. There are several tasks that you need to manage to keep operations effective and optimized. But accounting is one of the key processes that you might not manage alone. For this, a Business Accountant South Morang is always required. Unarguably, the bookkeeper of your business also acts as an important advisor. Thus, you should follow careful considerations while hiring one to make your business successful. For this, you need to have a question-and-answer session with the service provider. Below are 10 important things you need to ask your supposed business finance manager.
- What sort of businesses can you work with?
Every business is different and has distinct protocols to follow for successful operations. For instance, a food business may have certain needs for wages, tips, invoicing, etc. A construction agency may have a separate need to deal with the finances of contractors and workers. So, you must ask if the South Morang Business Accountant has familiarity to work with different businesses.
- Do you offer all-inclusive accounting services?
You may not only want an accountant for record-keeping of your transactions. Tax preparations, payroll management, and streamlining cash flow management are also necessary tasks. Hence, it is essential to know if the service you are about to hire has all these specializations. You should inquire whether you can get comprehensive services from the intended accounting firm or not.
- Is your accounting service available year-round?
You may not want to get accounting services for a particular tax season only. So, it is important to confirm if Bookkeeping Services South Morang are available year-round. Consistent recording of financial transactions is crucial for meeting ATO tax compliance. Hence, you should only consult with the firm that assures year-round work commitment with you.
- What authorizations and permits do you have?
It is necessary to get South Morang Bookkeeping Services from certified accountants. CPA is the highest designation for accountants and tax specialists. Hence, you should have a communication session before hiring the services. You should ask if the accountants are certified and have proven work experience. This ensures work integrity, quality, and efficiency for your business.
- Who will handle my business tax-related work?
Business taxation is complex, no matter if you have a small business firm, a retail store, or a manufacturing firm. ATO has strict guidelines relating to income reporting, tax computation, and return filing. Also, if your business has GST thresholds, you need to comply with them. So, ask the accountant if they have expertise in handling tax-related work.
- Can you assist with ABN and TFN registration?
If you have a new startup and you are in the process of registering your business, ask an accountant for help. ABN and TFN registration are necessary to open a business bank account, lodge BAS, and file taxes. So, ask the Accounting Firm South Morang if you can get these services besides bookkeeping for your business.
- Can you represent my business during an ATO audit?
Remember, not all accountants can represent businesses for audits. They are CPAs who are well-versed in audit processes to represent you in all cases. Thus, you need to ensure that South Morang Accounting Firm can help you as per ATO compliance. Also, you should ask how they can assist with tax-related ATO queries and replies.
- Can you manage multiple entities under my business name?
This is again an important question to ask if they can handle multiple entities. For instance, if you have a rental property as a business and a retail store under the same corporation name, accountants must manage transactions. An accountant is required to track and monitor money moving between different entities for precise accounting & taxation.
- Do you support with commercial tax planning?
Tax planning is essential for every Aussie business to minimize liability, obtain deductions, meet tax compliance, and avoid penalties. So, ask your supposed accountant and tax specialist if they can assist with the same. If not, then you should consult with registered tax accountants like Kirpa Tax to meet your needs.
- What is your mode of charging for bookkeeping services?
Lastly, you should ask how the accountants charge for their services, such as per hour, per month, or a flat rate. As a new startup business, it is necessary to manage your budget by avoiding unnecessary charges. So, you should ask if accountants can provide services with a budget-friendly approach to handle your accounts.
Consult Kirpa Tax Business Accountant South Morang to avail of comprehensive services. We are reliable, transparent, certified, and experienced CPAs.