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 accounting services for small businesses should address the specific 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.
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.
For accurate record-keeping and reporting, cash flow management, and support on initial accounting setup,contact Charles P Myrick, CPA. Recognized as one of Washington DC’s top accounting firms for small businesses, we can help set up the systems that will move your small business to success. (202) 789-8898