With the growth of the company, business in the world market and frequent changes in legislation, the need for entrepreneurs to have up-to-date and accurate information to run a successful business is growing.
Accountants are inexhaustible and one of the most important sources of information for entrepreneurs, who are usually in a hurry, overloaded with obligations and do not have time to follow all the legislative changes. Given the legal framework, the frequency of legislation and the constant changes in business, entrepreneurs need reliable partners in the field of accounting.
Therefore, we have prepared some guidelines that can help you choose a good accounting service and make a decision.
What should you look for when choosing an accounting service?
Many accounting services offer additional services such as consulting in addition to traditional accounting services such as bookkeeping, payroll, VAT calculation, etc. A good consultation can help you in business and business decisions. If you choose a quality accounting service, you can save a lot of time and money.
Whether it is an entrepreneur with experience or someone who is just starting out in entrepreneurial waters, the information and advice they receive from their accounting service will greatly help them in their business and impact their success.
The low cost of accounting services may be tempting, but the penalties for accounting violations are often much higher than the savings from the lower cost of accounting services. You may prefer an accounting service that specializes in the services of a particular industry (e.g. for restaurateurs, contractors, IT professionals, family businesses…).
Find out how many employees the accounting service has and who will be responsible for documenting your business. A good accountant should be professional and have certain knowledge. We advise you to choose a proven quality accountant.
Modern accounting service
When choosing an accounting service, it is important which program you use. Modern information technology enables paperless business, electronic exchange of documents and 24/7 access to company data.
Modern accounting programs allow you to connect to an accountant and have all your data in one place without the need for physical data transfer. Accounting services often face the problem of incomplete or untimely submitted documents.
It is also necessary to consider whether and in what form the accounting service trains its employees. Given the frequent changes in laws and regulations for accounting service providers, continuing education is necessary.
Even if you want to have a detailed insight into your own business and think that you can do some accounting tasks yourself with an accountant, you should pay attention to the accounting programs they use when choosing an accounting service. With Invoice Crowd program, you and the accountant will have access to the data at the same time.
Invoice Crowd simplifies invoicing, expense tracking and accounting, saving you time and money. Generate a professional invoice in a matter of seconds.
The choice of the accounting program is a decision that affects the way of doing business, the cooperation between the company and the accounting service, but also the record keeping. Therefore, it is important that you trust the provider of the chosen software solution.
Are you thinking of changing your accounting service?
If you are starting to doubt the professionalism and work of your accounting service, it is time to consider switching.
Consider switching if you think:
– your accountant is not professional and accurate enough,
– your accountant rarely advises you to get the information you need,
– the accountant does not take time for you,
– an accountant works “on his own” to make things easier for himself than for you,
– the accountant is not well versed in legal and tax regulations and accounting,
– you are paying too much for the quality of services provided.
You have decided to change, what is the next step?
Many business owners think that switching accounting services is a lengthy and tedious process, but that’s not necessarily the case. If for some reason you decide to switch services, you first need to research who offers accounting services or get a recommendation from other fellow entrepreneurs and use the information and quotes to choose a new accountant.
After you have summarized the offers, we recommend you to arrange a meeting with the new accountant to settle all the details of your business cooperation. It is important that the accountant states all the specifics of your business so that he can accurately estimate the scope of his work and offer you the best option for cooperation.
After the agreed cooperation, it is necessary to transfer all the documentation to the new accounting service. The new service must provide the first accounting balances of the previous year and all business documents of the current year. In this case, the old accounting service must complete the preparation of all legal forms for the previous period.
The new accounting service must enter all documents from the beginning of the year in order to continue processing the documents from the transition date. Most accounting programs allow you to import and export data that you can pass on to a new service to incorporate into your program.
When is the best time to change your accounting service?
The general opinion is that the best time to change your accounting service is at the beginning or end of the calendar year. However, at the end of the calendar year and the beginning of the new year, services have an increased workload due to final invoices and tax returns.
One factor that may influence your decision is whether the new accounting service charges additional fees for processing records from the beginning of the year to the date of transition. If your new service does not charge additional fees for processing records from the beginning of the year to the transition, the best time to transition is the first half of the fiscal year.
When choosing an accountant, keep in mind that they will manage your finances and provide tips and guidelines to improve your business. A good accountant can contribute greatly to your business. So, investing in a good, professional and reliable accountant is a very worthwhile investment.
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