You have made the smart decision to outsource the accounting work of your small business in Naples to a professional firm. While there are many CPAs that promise to specialize in managing the financial affairs of new companies and startups, not all are the same. Because a lot is at stake, it is okay to feel overwhelmed about choosing the right firm for a long-term partnership. If you are hiring small business accounting services in Naples, FL, avoid the mistakes listed below.
Mistake #1 – Not defining company goals and requirements
Long before you look for accounting firms, you need to be clear about what you expect from the extended team. Are you looking for just QuickBooks services? Do you need help with financial forecasting? Are you interested in minimizing your tax burden? If yes, are you ready to outsource the tax planning work to outsiders? It is pertinent that you define the goals and requirements in advance.
Mistake #2 – Not checking the clientele of the accounting firm
Does the firm have a clientele that includes small businesses, startups, and new companies? Do they have experience in your sector? If yes, are they working with some of your immediate competitors? You need to know where you stand in terms of the client-CPA relationship. You should be able to trust the team for their experience, expertise, and everything in between.
Mistake #3 – Not discussing the payment structure in detail
Many accounting services charge clients for each hour of work, and while that may be feasible during the tax season, it is not the ideal arrangement. Instead, look for a firm that can be around for all months of the year. The best way to hire an accounting firm is by going for a monthly fee based on your requirements. Ask them for an estimate and check what is included.
Mistake #4 – Not looking for comprehensive services
You don’t just need a bookkeeper. You need a team of financial and accounting experts who can also advise on tax preparation, guide your business about forecasting and budgeting, and is also available for consultations. As your business expands, you should be able to scale your financial work, and the support of the CPA is critical for that. You need to have the confidence that you can work with the accounting service for at least five years to come.
Contact a few local accounting services in Naples now and ask for an in-person consultation session.