While hiring an accountant is a critical step in growing your Portland business, there are several things that Portland business owners will want to look for in the recruitment process. Portland business owners who are looking into bringing an accountant onboard will want to follow this advice:
Make use of your connections online. This doesn’t mean that you should rely on Facebook or other forms of casual social media to make decisions about the future of your business. Connect with other professionals to find good referrals. For example, LinkedIn is one of the largest websites used by professionals globally and can be helpful in finding accountants that come highly recommended.
Five ways to use your social network to gain more information. Using Linkedin or other similar networking sites gives you the opportunity to dig deeper into the credentials and background of any potential hires. When considering a possible account, try to get answers to the following questions:
- Who are they connected to?
- Do they have a strong network of professional people?
- How do they talk about their services?
- Are they enthusiastic and interested in their work?
- Have they received any recommendations from their clients?
- What do those recommendations say?
- What is their experience?
- How long have they been in business, and what were they doing before?
- What are their qualifications?
- Are they a chartered or certified accountant, a bookkeeper, a financial adviser or something else?
Decide how accounting work will be divided. Although your accountant can handle every aspect of bookkeeping if needed, this may not be the best use of their time and your money. You pay your accountant by the hour, so do you want them to spend a lengthy time on tasks like simple data entry? Not likely. Delegate accounting duties accordingly. For example, you could choose to enter the basic accounts data in-house, while leaving your accountant to handle the more involved tasks such as bank account reconciliation, filling out tax return forms, payroll and capital depreciation calculations. Investing in good accounting software will also simplify tasks like invoicing, automatically sending the invoice and recording its contents at the same time.
Get someone who is proactive about saving you money. Before hiring, ask your accountant where your company could save money. The best accountant will not only help to manage your finances but look for ways to help you keep it as well. Your accountant should also be familiar enough with tax laws to save you money without legal consequences.
Interview several candidates before you decide. Don’t rush into hiring an accountant. Allow yourself time meet and compare your options. By the end of several interviews, you will be even more familiar with what an accountant can offer you and what you need most for the future of your business.
Is your business in need of a part-time finance professional? Business & Accounting Solutions offers a wide range of outsourced CFO services to businesses in the Portland area. Our services include: bookkeeping, finance consulting, cash flow management, system design, and capital needs assessment. We bring knowledge and experience to your company’s financials. Contact us or call at (503) 710-6213. Know someone in need of CFO services? Consider our referral program.