When and How to Hire an Accountant for Your Business - Growth Freaks

When and How to Hire an Accountant for Your Business

how to hire an accountant

When you’re a business owner, especially a young one, you know that every single dollar in your budget counts. Therefore, if you don’t know your financial position at the end of a quarter or the year, you may be facing some unexpected problems. You can delve into do-it-yourself accounting, of course. However, you will soon see that having an accountant is beneficial beyond the point of crunching some numbers. Here’s how to hire an accountant.

The Right Time for Hiring an Accountant

The timing depends on where you are with your startup. If you’re still at that phase where you’re working from home, doing most of the product development yourself while your co-founder chimes in from time to time from his own apartment, you’re good. The need for an accountant has not presented itself yet because you are not exchanging money or doing major financial transactions yet.

However, you have to think about getting some help when you make your first hire, sell your product for the first time, sign a lease, or take the very first money from investments. In theory, it sounds like you can easily keep track of one or two employees and selling a few items over the internet on a rudimentary website. However, you will see that in practice it’s a lot harder than that.

You might also like – What is a Tax Write Off and How to Do It Right?

How to Hire an Accountant

  1. What kind of services do you need?

The first thing you need to know is that there’s more than just one type of accountant out there. To hire the right one, you will need to assess what kind of services you require. Is the person to handle tax filings, payrolls or your paying vendors? If you ask yourself these questions, it will be a lot easier to determine who you need.

You should also consider your company’s future accounting needs. The accountant should be able to handle more work and of a different type as your company grows. There’s no point in hiring someone else after a certain period.

  1. Be Careful About the Job Post

If you want to find the best account, then you need to write a very detailed job post. The idea here is that the more info you give, the easier the process will be. Here are a few ideas to include.

  • Tasks that the accounts will have to do and if they are recurring.
  • In what way will you communicate?
  • What is your current status of bookkeeping?
  • What industry requirements do you have?
  1. Create a Shortlist

When you start receiving proposals, create a shortlist of the most promising candidates according to the following criteria.

  • Level of professionalism – which of the candidates perfectly tailored their submission to your requirements? Are they really interested in your needs or do they just need a job for the money?
  • Talent – which one seemed the most proficient to you?
  • Feedback – can you talk to any of their other employers and see what they have to say about this particular candidate?

Knowing how to hire an accountant is an extremely important thing. Next to your HR representative, he or she will handle some of the most delicate issues your company will face over the years. Let us know in the comment section below some tips on how to hire an accountant that you have used.

Author: Amanda Knowles