Our business consultants at Poston, Denney, and Killpack, PLLC would like to help you choose the best Certified Public Accountant by taking a closer look at the following factors:
- Number of services offered
- Number of Certified Public Accountants available in the office
- Communication
- Experience level and Qualifications
- Education
- Reputation
- Cost
- Value
Room to Grow: Number of Services Offered
If you are looking for a CPA for your business’s accounting needs it would be wise to consider the amount of growth the office can handle. Although your business may start out small, keep in mind that hiring a CPA could lead to business growth you may never have expected, if you hire well. A one on one contact may work well for you, however if you are hoping for substantial business growth you may eventually need a team dedicated to your account. Consider the big picture of your needs for your business. Does your business just need a tax return prepared and year-end financial information? Or are you looking for more financial planning advice or help with your business plan? It would be helpful for you to consider some of the following questions:
- Will the firm be able to take my business from a small start up to a mid to large level business?
- If the workload exceeds that which an individual CPA can deal with, who will be assigned to my account?
- What business have they worked with in the past or currently that are similar to mine and how are the performing?
- What other services could be helpful in the future for my business?
- Does the firm seem genuinely interested in my business?
Someone To Talk To: Availability of CPA’s in the Office
At Poston, Denney, and Killpack, PLLC we know how busy tax season is for business owners and accounting firms alike. Not surprisingly, the tax season is a busy time for CPA’s. Knowing that there will be someone available for you to ask questions and inquire for information is an important consideration. A firm with several experienced CPA’s is more likely to have an accountant available for you to speak with during busier times. If you only need a CPA for personal tax return purpose, a single individual will fit your purposes well. If your business is growing and you are in need of other services and regular assistance, a larger accounting firm could be the right choice.
Confidence: The Importance of Communication
When looking for a CPA, whether for a large firm or for your individual needs, it is essential to find someone with whom you can establish a healthy working relationship. A Certified Public Accountant can be beneficial addition to your business or personal finances, readily providing answers and assistance.
However, while you do not need to be on excessively friendly terms with your CPA, to take full advantage of their expertise, you will need to remain in regular communication, which is why it is very important to keep looking if you do not feel comfortable maintaining a communicative relationship with you current CPA.
Industry Know-how: Is Your CPA Experienced and Qualified?
When you are looking for a CPA it is important to consider if they have expertise in your particular industry or even a similar industry. With experience in the industry your CPA will have important insights for your growing business. If you want advice on business finances, a CPA that specializes in individual tax returns is not going to be able to help you the way that you need. How can you find out if a CPA has the experience that will best benefit you and your financial needs? Asking straightforward questions about their professional experience and let them explain to you how their expertise will be a beneficial for your financial relationship. You can investigate a CPA further by looking at their online CPA profile pages to see their past education portfolio and any current memberships.
Education and Keeping up With the Times
A Certified Public Accountant will have achieved an undergraduate degree and passed the exam and experience requirements for state certification. Continuing education is an important part of a CPA maintaining their certification. Their continuing education requirements keep them up with the changing accounting standards. In addition to keeping up their education in accounting, once every three years, a CPA’s accounting and auditing practices are thoroughly reviewed by their peers to ensure they are maintaining their professional integrity.
Another important consideration is whether a CPA is a member in the American Institute of Certified Public Accountants. Membership requires accountants to continue their professional education by taking approved course work that will keep them current on the latest accounting and taxation policies.
Ask Around: Great Service Leads to a Great Reputation
It is a great idea to ask around about the experiences your friends and business associates have had with their accountants. A referral from a trusted source is a great way to know that you are on the right track for getting involved with an experienced and reputable CPA. Ask if your friends and associates hear from their accounts not only at tax time but also throughout the year with advice or important proactive and helpful information. Getting the best value from your accountant will mean that they are forward thinkers that provide great service.
If you are having trouble finding a referral from people you know, consider asking people in a similar industry as you for referrals of their accountants. Explain that you are looking for a trusted accountant with expertise in your particular industry.
Remember that your accountant is meant to be a trusted advisor for either your personal finances or your business venture. The relationship between you and your accountant needs to be a trusting one so that you can reap the greatest benefit from the relationship.
Even with a great referral from a trusted source be sure to take time to interview firms and the individual candidates. Don’t be shy! This is your financial future and you want to do all that you can to ensure that it will be in good hands. Ask for additional references and follow up with them. Before you make a decision, be sure to interview at least three CPS’s. Perform your due diligence to get your personal or your business’s financial future off to the best start with a great Certified Public Accountant.
Cost: Be Sure to Check Out the Competition
Money, money, money! Accountants are great with numbers and that is why you are paying them. Inquire about hourly rates and fees. Request quotes for what you can expect to pay for services. Compare rates with several professionals before settling on one. You may save you or your business a whole lot of money by taking this important step in your decision making process.
And Above All, Value
At Poston, Denney, and Killpack, PLLC we would like to leave you with this thought, that the most important aspect you must consider as you search for a Certified Public Accountant, is the value they bring to the relationship. A CPA should be helping your business to grow, should be ensuring that your tax returns are the highest they have ever been, should be supplying you with peace of mind during the stressful tax season by knowing your accounts are in competent hands. Whatever the reason that you have sought out a CPA, you need to see that they are bringing indispensable value to your professional relationship.
If you are in search of a CPA in the Idaho Falls area, Poston, Denney, and Killpack, PLLC is here to help if you have further questions on how to choose a CPA that will best meet your needs. We want to help you get the most out of your personal or professional finances and our professionals know how to get you there. Ask us for our references, additional services for both your personal and business finances. For your business needs we have great services for small business accounting, help with strategic business planning, cash flow management and everything you need to get your business off to a great start. We are here to make your money work for you.
