Ten Question To Ask An Accounting And Bookkeeping Company
If you’re looking to hire a bookkeeping and accounting company in Richmond, BC, whether it’s for expense management, managing your company accounts or payroll, it is important to pick a reliable agency with high standards. After all, the end product will be a direct reflection of your business! Therefore, it’s essential to choose a bookkeeping and accounting company that you can trust to handle your business accounts with accuracy and in a way that benefits your company.
If you’ve never worked with a bookkeeping and accounting company, you may not know where to start when it comes to choosing the right one for your business. To make the whole process easier for you, we’ve outlined ten valuable questions to ask a potential accounting and bookkeeping company.
During your initial consultation, ask these questions to help you understand if this company is the right fit for you, and capable of managing your company’s accounts.
How much experience do you have doing bookkeeping?
You need to ask specific questions about a potential candidate’s work experience. Ask them how they handled projects previously so you can evaluate their commitment and dedication to the area. Ask them how their previous clients used their financial reports and data and how it benefited them. Tell them to give you examples of the ideas they have implemented and how it worked out. You need to be sure that they are the right fit for your organization.
What accounting software do you use?
It might be hard to believe, but some accountants still use old fashioned accounting software. Find an accountant who uses cloud-based accounting software so you can track and access your financial data in real-time. New technology ensures a smooth coordination with you and your accountant.
Are you familiar with my kind of business?
The fundamentals of accounting may remain the same across industries. However, there are several laws and provisions that apply only to certain businesses and trades. It is essential that the company you hire is familiar with your industry.
Do you have references I can talk to?
Ask a potential bookkeeping and accounting company for client references, particularly from clients in your industry. Any good company should be eager and able to connect you with past clients very easily. If they refuse, then it raises a definite red flag.
Do you have an accountant that you work closely with?
Accounting and bookkeeping are integral parts of a successful business as they are linked to every financial aspect of your business. For this reason, how your books are prepared and maintained can significantly impact your business operations and your taxes. If they have an experienced accountant on their side, they can help you to conveniently draw up your financial figures to meet the guidelines of the government. It is important to know if they have an accountant they work closely with and how experienced said accountant is.
Do you work on your own or do you have employees in your firm?
Some bookkeepers are a one-person operation while others work within large and diverse teams. One isn’t necessarily better than the other, but it is important to understand the number of resources at the company’s disposal.
How do you charge your clients?
Professional companies use several models in structuring their fees. Is there a monthly fee, fixed fee or do they charge by the hour? No matter how they charge their clients, it is important that they are able to explain it clearly to you so that you can make an informed decision as to whether they suit your needs or not.
What services do you offer?
Not all bookkeeping and accounting companies offer comprehensive accounting services such as payroll, reporting to CRA, etc. In order to keep your financial operations running smoothly, it is best to hire a company that offers comprehensive service packages that cover the whole process from start to finish. Thus, enquire about the services a potential company has to offer and see if it includes everything you need from them before making your decision.
Do you do monthly reviews on your clients’ progress?
Monthly progress reviews help in eliminating many of the risks possible with their methods and also give them a strong perspective on what is going on and how much progress they have truly made. It should be done so that the lenient understands the progress, why it has happened, what they should repeat, and what they should rinse out. It is important to know if the company you’re looking to hire does monthly reviews on your progress.
Are you open to questions that a client may have at any time?
It is crucial to ask a potential company on how responsive they are. A bookkeeping and accounting company is a busy place and sometimes, they receive a reputation for poor responses to a client. This just won’t do. Your time is valuable and they should respect it. Find out if they are open to questions at any time and make it clear that you expect a response within a specified time limit.
If you are looking for expert bookkeeping and accounting services, Then say hi to us at Real Balance Accounting Services Ltd. Our goal is to serve small businesses with peace of mind from nitty-gritty back-office accounting and administrative tasks and let entrepreneurs focus on growth. We want to help set up a workflow process that will allow for a smooth operation of your business.
Reach out to Real Balance Accounting Services Ltd. today to set up a consultation or visit our website to learn more about what we can help you with by clicking here.