Good accounting is invaluable to the management and growth of any business. However, accounting tasks can be daunting if you lack financial expertise or your business is experiencing rapid expansion. You may need to hire extra hands, such as a Certified Public Accountant (CPA), to help you keep track of your finances.
However, finding the right CPA might be tricky. As of August 2022, there were only 665,612 CPAs in practice. As much as you would like to, you can’t randomly choose a CPA to handle your business’s payroll, bookkeeping, taxes, and accounting since they are few and far between, and every CPA brings different skills, experience, and interests to the table.
So, how do you find a CPA business that’s the perfect fit for your company? Here are the top tips for finding a qualified CPA.
1. Identify Your Business Needs
Businesses usually have specialized service needs, including, but not limited to, bookkeeping, payroll processing, and tax preparation and filing. If your company operates in a niche market, hiring a CPA with experience in that field is in your best interest.
You can discern if a CPA business has the qualifications to handle your accounting needs by calling them or checking out their website. Find out how they engage with customers and the level of expertise they bring to your business.
2. Reviews, Testimonials, and Reputation
It’s always a good idea to get referrals from people you know and trust, such as your family, friends, coworkers, business contacts, bankers, or attorneys.
If you cannot find a reliable CPA business through personal recommendations, you can use the internet to research local options and then use customer reviews to make a hiring decision.
It is best to read reviews written by businesses roughly the same size as your own, as feedback from much bigger or smaller companies may be irrelevant. A good accountant will have client testimonials they are happy to share. From referrals and your own research, pick 3-5 CPA businesses or accountants for assessment.
3. Examine Their Qualifications
A top-notch CPA business will have a bevy of qualified CPAs. CPAs usually take part in ongoing professional development activities to maintain their licenses and keep current on changes to federal, state, and municipal tax codes. The CPA firm will have CPAs holding several credentials, such as:
- Accredited in Business Valuation (ABV)
- Chartered Accountant (CA)
- Certified Valuation Analyst (CVA)
- Enrolled Agent (EA)
- Personal Financial Specialist (PFS) etc.
A recommendation from the Internal Revenue Service (IRS) directory, the American Institute of Certified Public Accountants (AICPA), or a state CPA society can prove credibility. However, if referred or found online, you can check their credentials by looking them up in CPA Verify, a centralized online database that lists registered CPAs and CPA firms.
4. Meet With Your Prospective CPA
Meeting the CPA in person is also a good idea to get a sense of their character and decide whether or not you want to work with them. You can prepare some questions on the following to ask during the meeting:
- Communication policies
- Years of experience in the industry
- How they can help you grow
- Rates
- Who will you be working with
- Software they use
During the meeting, you should verify the accountant’s competence and your sense of ease in working with them since the relationship will likely last years.
Need a CPA for Your Business?
As a business, you may already have a lot of responsibilities, which can be a real hustle. Thankfully, accounting tasks need not be one of them—if you find the right CPA business to handle them.
A competent CPA can help you cut costs, steady your cash flow, and avoid common accounting pitfalls. If you’re looking for an experienced CPA that can provide accounting, tax, and business advisory services, contact Gurian CPA Firm today.
