How To Find A Small Business Accountant In 2024

Small Business Accountant

Last Updated May 9, 2024

A small business owner is like a captain of a ship sailing towards their destination. But every good captain needs assistance to sail his boat. He cannot handle everything on the deck on his own. It is possible to do bookkeeping with accounting software but hiring a small business accountant is better. Some duties are more difficult to perform. An accountant can handle the job and certain challenges that come with it.

But do you know where to find one?

Choosing the accountant for a small business is a lot like choosing a vendor or an employee. You have to follow certain criteria to pick the best fit. You need to find someone who fits your business criteria and can benefit your company.

What Is The Role Of A Small Business Accountant?

Managing your company’s financial tasks is not as black and white as one would like to be. Handling debits, credits, and recording transactions is a job of a small business accountant with the right level of expertise.

A business accountant is an expert who can investigate or examine the company’s finances and takes care of the financial statements. He prepares the reports and makes sure all data is correctly mentioned.

An accountant can do several things for a small business like;

  • Take care of the tax deduction.
  • Find evasive information for eg disappearing inventory, increased expenses on product manufacturing or slow sales, etc.
  • Balance the cash flow.
  • Prepare the financial reports on time to handle cash flows better.
  • Prepare and file for tax returns and so on.

An accountant for a small business can do all of that and more but finding the person to do the job is the key to managing the financial side.

Why Do You Need An Accountant For A Small Business?

First, you need to determine the reason(s) for hiring an accountant. You can hire a small business accountant for a full-time in-house job or you can hire a freelancer or a remote accountant.

It all depends on the business needs. Accountants can also carry bookkeeping tasks while they keep track of business and cash flows. If you want a person who can perform the jobs as a bookkeeper and accountant you will want to look for a remote accountant or an accounting firm.

If you want to maintain books on your own, then finding a remote accountant is a better option. He can work periodically with your business (weekly, monthly, or quarterly). This way important tasks are handled by the accountant, and they can evaluate the financial status of the business in a better way.

Accountant For Small Business

For an accountant to do the job successfully, they must get involved in the business.

Save The Time

Passing the important tasks to the small business accountant is the foremost reason so that you can be productive within the quality time. Financial duties when distributed carefully saves time and helps to improve the financial process.

Navigating Challenging Tasks

Not every business owner is from a financial background. You may not be the financial genie that your accountant will be for you. They can undertake the financial challenge and handle it smoothly without fussing over the paperwork. They have the expertise to manage the accounting statements, analyze them, and evaluate them.

Eligibility To Find Tax Deductions

It’s easy to miss the deductions from a small business when you file for the tax return. That extra money can be earned back with accounting expertise. The accountant for small businesses will ensure to get the most possible refund.

Identify Hidden Problems

An accountant’s main responsibility is to manage the financial records. They keep every transaction in check.

If the ledge does not explain why the surplus is less than the deficit then you know an accountant can check into the details in a professional way.

These are just a few examples of hiring an accountant for a small business. But now you have a clear idea you need to hire regardless of the business size.

Does A Self-Employed Person Need An Accountant?

In the case where you are not even a small business but an individual running a one-man show may also need the services of a small business accountant. Even if you need financial consultation you need to consult with an accountant to manage your taxes. Doing it all on your own can be a little bit much for a single person to handle.

From managing taxes, tax returns, and deductions if your work is eligible to all of these cases, then to answer the question it’s a yes. You will need a small business accountant even as a sole proprietor.

Solving The Mystery To Find A Small Business Accountant

Look In The Right Direction

Once you are clear about the responsibilities you want to share with the accountant, you can start lining up the candidates on the hotlist.

But you cannot pick someone right from Google, you need to take precautions and screening is a must to ensure you get the right candidate from the list you prepared.

So what should you do?

  • Begin by looking into the American Institute of Certified Public Accountants (AICPA). Verify the accountant’s license for the CPAs.
  • Try some luck by checking out the Accounting and Financial Women’s Alliance (in case you are looking to hire a motivated female accountant).

What Does An Accountant’s Qualification Tell You?

Accountants come under the umbrella job. It means there are various types. According to the type, the qualifications of an accountant will vary.

They must have a bachelor’s degree in accounting or a high-school diploma with job training.

CPA must have an accounting degree with certifications.

Make sure the accountant you look for knows how to use the accounting software. Their qualification does not reflect the communication skill but is the shadow of their expertise in the relevant field.

So crunching numbers is important as long as they can communicate the financial aspects in easy words.

Evaluating An Accountant Is Critical

The evaluating process is similar to that of any other employee. Conduct a series of interviews, analyze their resumes and present them with a case. This will give you an insight into tactical skills.

Besides the resume, make sure that the proposed candidate is also certified. Also, if you are hiring a remote accountant through a firm, make sure to look up the firm and the accountant.

When Will The Accountant Be Available?

When you are clear about the type of accountant you want, make sure that the person is available during flexible hours. Find out if you are hiring a remote accountant, is it team-based hiring or individual hiring, and so on.

Confirm whether the accountant will be available to visit the business location or not. Once these minor details are clear step up to the next stage.

Cost Expectations For A Small Business

There is no standard set cost structure for an accountant. It is totally dependent on the nature of the business and the services the accountant is required to perform. Also, the prices vary from region to region as well.

Also, keep in mind that the prices for a regular accountant and CPA are different. If you hire a remote accountant it will cost you less than the freelancer.


Finding Small Business Accountants With My Count Solutions

One easy solution for any small business is to take an accountancy consultation from My Count Solutions.

As a professional accounting platform, you can hire a tax consultant, a bookkeeper, an accountant, or a CPA as per your need. Find a small business account with our experts.

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