As a small business owner, you must have asked yourself multiple times if you need an accountant or wondered how a CPA can help you achieve your financial goals. Having a Centennial CPA onboard is a great decision as they help you at every step and ensure you achieve success. However, finding the right CPA for your business is not an easy task. This article highlights how you can find the right CPA. Here we go!
Who is a CPA?
A certified public accountant, also known as a CPA, is a professional who has sat and cleared the state licensing examination and performs different finance-related tasks. These include managing accounts, conducting audits, forecasting revenues, preparing financial reports, and promising compliance with accounting standards.
What Does a Small Business Do?
- Tax return preparation, filing, and amendments
- Highlighting tax deductibles
- Maintaining a continuous and steady cash flow
- Account management and maintenance
- Financial forecasting
- Preparing financial statements like income statements, balance sheets, and cash flow statement
- Fixed assets and payroll accounting
Steps to Find the Right CPA For Small Business
Here is the step-by-step process to choose the right CPA:
1. Define your needs
Before getting into the research process, understand and define your needs clearly. You must consider your financial requirements, like financial planning, advice, tax regulation, and more.
2. Ask for referrals
An excellent way to hunt an ideal CPA for your small business is by relying on referrals. Ask people you trust, like your friends, family, or friends from the business world.
3. Find experienced CPAs
A CPA must have great experience working with similar businesses as yours. This increases your chances of achieving goals timely and meeting expectations.
4. Conduct conversations
An important thing that you must consider while choosing a CPA for your business is their communication skills. To analyze their communication skills, you must conduct conversations and see how they react and answer your queries. You need to ensure they are able to communicate and are responsive.
5. Compare rates and your budget
Once you are satisfied with their skills, experience, and knowledge; compare their rates with their overall budget to understand the billing structure. Keep a budget in mind so that you have scope for other expenses as well.
Choosing and hiring the right CPA will help your business grow exponentially. By following these five steps, you can find the right CPA.