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Posted by: Charles P Myrick CPA Posted on: Mar 30 2015 Posted in: accounting services for small businesses

How to Choose a Small Business Accounting Service

If you are planning to hire a small business accounting service, it is important that you are selective about the accounting firm that you want. These services have a direct impact on the cash flow and profitability of your company, and there are several things that you need to keep in mind before you make the decision.

Accounting Firm vs. In-House Accountant

Some business owners assume that they need to put an accountant on payroll to receive the full benefit of accounting and financial management services, but there are many benefits to hiring an outside firm instead. When you are working with an accounting firm, they provide all of the accounting expertise that you need, and you don’t have to worry about the added costs associated with paying a full-time employee.

What Services are Available?

It is important to consider the financial services that your company needs in order to determine the best accountant to hire. Talk with firms that you are considering to make sure they provide all of the services you may require. The offerings should include the following:

  • Tax preparation
  • Bookkeeping
  • Payroll management
  • Cash statements
  • AR/AP management   
  • Financial statements
  • Handling the balance sheet
  • Expert advice to manage cash flow

Each business is different, which is why your accounting services will be catered to the individual needs of the company. A good accountant will offer solid financial advice throughout the year, instead of talking to you once a year when it comes time to do your taxes.

Download our Free Guide to Cashflow Management for Businesses

Checking Their Reputation

Make sure you understand the reputation of the company before you commit to their services. You can often find reviews online, or ask the company for information about the other types of clients that they have worked with in the past.

Are you ready to outsource the financial management of your business? Contact us to talk with a CPA in Washington DC, and we will help you understand the ways your business can be improved by hiring an accountant: (202) 789-8898